Excess Tax paid after adjusting ( Provision for taxation)


This query is : Open 

Quick Summary
This discussion addresses the classification of excess income tax paid after adjusting the provision for taxation. The consensus is that this amount should be treated as a current asset, specifically as a tax refundable item. It can be shown either in the Capital Account or as a current asset.

26 May 2022 excess tax paid after adjusting ( Provision for taxation ) whether excess income tax paid should be keep under current assets or non current assets.

26 May 2022 Keep it under current assets tax refundable.

29 May 2022 Either you show it in Capital A/c or as current assets.


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



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 17 August 2026
Article Assistant

Jain Ankit and Co

Gurgaon

CA Inter

View Details
Company
14 August 2026
Article Assistant CA Articleship

Eshwar & Co Chartered Accountants - Nungambakkam

Chennai

CA Inter

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
Featured 19 August 2026
Chartered Accountant

apricus india

Pune

CA

View Details
Company
21 August 2026
Finance Manager

Resollect Technologies Pvt Ltd

Mumbai

CA

View Details
Company
14 August 2026
Semi Qualified

Goyanka & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 17 August 2026
CA Article Trainee

ASC Group

Noida

CA Inter

View Details