As-22
This query is : Open
mudit gupta
(Querist)
24 July 2012
can anyone plz tell me,
whether AS-22 accounting for taxes on income is applicable on proprietorship business also???
urgent
whether AS-22 accounting for taxes on income is applicable on proprietorship business also???
urgent
Amol S Joglekar
(Expert)
24 July 2012
Yes. In proprietory business, we normally debit the capital account for taxes.
Chirag Chordia
(Expert)
24 July 2012
In proprietory business, we normally dnt follow dep. rates as per companies act, and for other items, u can apply AS 22 also
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mudit gupta
(Querist)
24 July 2012
MR AMOL,
SIR CAN U PLZ GUIDE ME HOW SHOULD I PASS NECESSARY JOURNAL ENTRIES REGARDING:-
1) TDS DEDUCTED OF PROP.
2) ADVANCE TAX DEPOSITED.
3) SELF ASS TAX DEPOSITED.
4) PROVISION FOR TAX.
5) IN CASE OF REFUND.
THANK U....
SIR CAN U PLZ GUIDE ME HOW SHOULD I PASS NECESSARY JOURNAL ENTRIES REGARDING:-
1) TDS DEDUCTED OF PROP.
2) ADVANCE TAX DEPOSITED.
3) SELF ASS TAX DEPOSITED.
4) PROVISION FOR TAX.
5) IN CASE OF REFUND.
THANK U....
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