Entry for income tax treatment in company's ac
This query is : Resolved
Vaibhav Jandey
(Querist)
05 June 2013
Respected Expert(s),
Kindly tell me entire entries to be done to adjust income tax paid with provision for income tax in company's accounts.
Please also tell regarding the same where provision exceeds income tax payment and vice versa
Kindly tell me entire entries to be done to adjust income tax paid with provision for income tax in company's accounts.
Please also tell regarding the same where provision exceeds income tax payment and vice versa
Rupesh Jain
(Expert)
13 June 2013
income tax payable (provision ) a/c
To Bank
if amt is excess from prov.
then with diff amount
reserve & surplus/ Profit & loss a/c
to provison of income tax
To Bank
if amt is excess from prov.
then with diff amount
reserve & surplus/ Profit & loss a/c
to provison of income tax
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