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advance tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 July 2010 hey friends..
what is accounting entry for advance tax for f.y. 08-09 standing as current assets in balancesheet as last year return is also filed...
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CA.Mini

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CA.Mini (Expert)
02 July 2010 adjust to the provision for income tax created for fy 2008-09.
Provision for income tax a/c dr
to advance tax
to cash
hope now it is clear.

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