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drawing a/c

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(Querist)
04 November 2009 what is drawings a/c of properitor in case of firm.whether we add last year advance tax paid & tds in properitor"s drawings a/c.
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chetan soni

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chetan soni (Expert)
04 November 2009 Drawings account means under which all personal expenses done by the proprietor will be dr. and also we dr. advance tax & TDS of last year to drawings account.

The reason behing dr. advance tax & TDS is that this is not allowed as expenses in income tax act.
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CA. Gurdeep Singh Chawla

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CA. Gurdeep Singh Chawla (Expert)
04 November 2009 agree with Chetan ji
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BALASUBRAMANYA B N

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BALASUBRAMANYA B N (Expert)
04 November 2009 Agree
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
04 November 2009 agree
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