As-22

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mudit gupta (Querist)
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24 July 2012 can anyone plz tell me,
whether AS-22 accounting for taxes on income is applicable on proprietorship business also???

urgent

Amol S Joglekar

Amol S Joglekar (Expert)
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24 July 2012 Yes. In proprietory business, we normally debit the capital account for taxes.

Chirag Chordia

Chirag Chordia (Expert)
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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

mudit gupta (Querist)
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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....

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