banner_ad

Disclosure of Advance Tax

This query is : Resolved 
Profile Image

Profile Image

(Querist)
22 June 2011 Under which head Advance Tax will be classified?
and if it is disclosed under loans and advances why should we do so?
give reasons for clasification..
Profile Image

CA Harish Suwalka

Profile Image

CA Harish Suwalka (Expert)
23 June 2011 Advance tax is disclosed under " Loans and Advances head"

because the same treatment has been approved by AS-22 and schedule VI of companies act
Profile Image

yerriswamy

Profile Image

yerriswamy (Querist)
24 June 2011 Thank you Mr Harish..
but exact doubt is why AS 22 or Sch VI says it should disclose under the head Loans and Advances?
Profile Image

CA Harish Suwalka

Profile Image

CA Harish Suwalka (Expert)
24 June 2011 if we don't show it in loans and advances head than it would have been deducting from the Current Tax payable
so to provide more disclosure, and correct amount of current tax in balance sheet,
by keeping this in mind these provisions might be inserted
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
Featured 27 May 2026
Lead Conversion Executive / Sales Closing Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
22 May 2026
U.S. Financial Reporting & Consolidation Manager

Karia Overseas

Ahmedabad

CA

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details