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drawing a/c

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gurru (Querist)
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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.

chetan soni

chetan soni (Expert)
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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.

CA. Gurdeep Singh Chawla

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

BALASUBRAMANYA B N

BALASUBRAMANYA B N (Expert)
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04 November 2009 Agree

CA Devanshi Gandhi (Ajani)

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

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