FBT Entry
This query is : Resolved
Gopal Sahani
(Querist)
30 April 2009
Dear Expert,
Please inform, what entries would be passed for the FBT March'09. and entry on the FBT payment.
Please inform, what entries would be passed for the FBT March'09. and entry on the FBT payment.
Ram Avtar Singh
(Expert)
30 April 2009
FBT Dr
bank A/C Cr
bank A/C Cr
CA. B.SRINIVASULU
(Expert)
30 April 2009
March 31st
FBT Dr
To FBT Payable
IN april when actual payment is made
FBT Payable Dr
To Bank
FBT Dr
To FBT Payable
IN april when actual payment is made
FBT Payable Dr
To Bank
CA Nitin Wadhwani
(Expert)
30 April 2009
For providing FBT,
Profit & loss A/c...........Dr
To Provision for FBT A/c
For Payment of FBT
1.Advance FBT........Dr
To Bank A/c
or
2.Self-Assessment FBT A/c...Dr
To Bank A/c
Adjustment of provision and payment in the following year
Advance FBT A/c.............Dr
Short Provision(if any)A/c..Dr
To Provision for FBT A/c
To Excess Provision A/c(if any)
If there is short or excess provision
Profit & Loss A/c.......Dr
To Short Provision A/c
or
Excess Provision A/c....Dr
To Profit & Loss A/c.
I hope the entries would suffice your requirements.
Profit & loss A/c...........Dr
To Provision for FBT A/c
For Payment of FBT
1.Advance FBT........Dr
To Bank A/c
or
2.Self-Assessment FBT A/c...Dr
To Bank A/c
Adjustment of provision and payment in the following year
Advance FBT A/c.............Dr
Short Provision(if any)A/c..Dr
To Provision for FBT A/c
To Excess Provision A/c(if any)
If there is short or excess provision
Profit & Loss A/c.......Dr
To Short Provision A/c
or
Excess Provision A/c....Dr
To Profit & Loss A/c.
I hope the entries would suffice your requirements.
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