Expenses


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Querist : Anonymous

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Querist : Anonymous (Querist)
15 September 2016 Sir please tell me what type of expense is income tax and EMD

15 September 2016 Income tax it is not ALLOWABLE expenses as per income tax act.
Income tax paid is treated s Current Asset. So also EMD (Earnest Money Deposit)

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Querist : Anonymous

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Querist : Anonymous (Querist)
15 September 2016 thanks sir but please tell me if our company/Owner paid their income tax so that tax case what type of group is as under current asset and duty & taxes or Current Liabilities for income tax A/c

15 September 2016 put it under current assets.......dont go in sub grouping


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