Audit

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 December 2012 In a proprietary concern,the assessee has paid advance tax of Rs.25000/- for assessment year 2011-12 which is shown in other debit balance, no provision for tax was created in the final accounts.
Now for the assessment year 2012-13,where will we adjust the advance tax (same with tds receivable)

Guest

Guest (Expert)

04 January 2013 Check out the Income Tax return for the amount of tax payable. Transfer the amount of tax liability to the capital a/c of proprietor and show the balance amount as income tax refund receivable which shall be adjusted against the refund received.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

divakar podaturu

SHRI HARIRAO

Dalbir Singh Wadhera

Rajesh Surapaneni

Sandeep Ranjan

Subscribe Now

Audit

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

CA Final

GST CONSULTANCY

Manager- Finance and Compliance

Accountant

Article Assistant

GST CONSULTANT