advance tax
This query is : Resolved
16 March 2009
if any partnership firm paid advance tax in F.Y. 07/08 but it is reflacting in F.y 08/09 so how we writeoff it & agaist which account.
16 March 2009
It will be written off to partners capital account.
17 March 2009
If the profit for the year distributed to partners was profit before tax, then as mr.sharma says, otherwise adjust it against provision for tax.
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