Finalizaion of accounts
This query is : Resolved
19 July 2022
I want to kbow about finalization accouts. Which entry will be done .
Please explain in detailed .
Then how to count tax . How to do entry of tax in finalisation entry.
Thaank you.
Please explain in detailed .
Then how to count tax . How to do entry of tax in finalisation entry.
Thaank you.
19 July 2022
Refer:: 1. https://taxguru.in/chartered-accountant/steps-time-finalization-books-accounts.html
2. https://www.vedantu.com/commerce/finalization-of-accounts
2. https://www.vedantu.com/commerce/finalization-of-accounts
19 July 2022
But i want to know about tax on profit, its entry for any firm or company how to calcutae and it entry on profitloss and balance sheet .calculation of tax and after deposit of tax still any other pending the account entry pending or not.
Please suggest me.
Please suggest me.
20 July 2022
Make 'Provision for Tax' acc. before finalization of P&L acc. Whenever any tax need to be paid, its credited to the provision for tax acc. No change occurs in P&L acc.
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