20 February 2013
Dear Experts If a co. Prov For I Tax For FY 11-12 Rs 60349 and Paid Adv TAx 30000 and TDs Receivable Rs 726 and Self Assmmt. tax Paid in Aug 12 Rs 47830.00 including Intt amount. then Total Tax paid is more than Prov Amount . then what will be excess amount paid, is there any entry will pass for that. Please guide me. Thanks
Guest
Guest
(Expert)
20 February 2013
Tax provision - Rs. 60349/- Tax paid = 78556/- Excess payment = 18207/- Verify and confirm the refund amount with IT Return and disclose as Advances recoverable in cash or in kind.
CAclubindia
