Advance tax

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Monark (Querist)
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19 October 2013 Can anyone suggest how to deal with balances (opening and closing) of advance tax and taxprovision:assessed liability in vash flow statement?

Monark

Monark (Querist)
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19 October 2013 I mean cash flow statement!

CA Pallav Singhania

CA Pallav Singhania (Expert)
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19 October 2013 PROVISION FOR TAX FOR THE CURRENT YEAR IS TO BE ADDED TO THE PROFIT IN CFS IN THE BEGINNING OF CFS UNDER INDIRECT METHOD AND ADVANCE TAX IS ADJUSTED AGAINST TAX PAYABLE FOR THE CURRENT YEAR......

Advance Tax will be deducted from "cash from Operating Activities" & "Provision for Tax" will be added for adjustment of Non cash items....

Fore more detail info

https://www.caclubindia.com/articles/preparation-of-cash-flow-statement-13957.asp

Monark

Monark (Querist)
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19 October 2013 Can you show me by treatment in cash flow statement..i am actualy not getting the above solution!!

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