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How to record income tax payment entry

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(Querist)
30 August 2016 income tax - 102903=00
education cess - 3087=00
interest - 9960=00
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ACA Anurag

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ACA Anurag (Expert)
30 August 2016 Dear Jagdish, Income tax is deals as drawing and entire amount will be booked as drawing. Hope your query is resolved Kindly like if my response has helped you
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CA ANILKUMAR B.COM FCA DISA

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CA ANILKUMAR B.COM FCA DISA (Expert)
30 August 2016 what is the constitution of your business? Treatment will differ case to case. If any provision for tax is created , first need to adjust towards provision. If not you can account as drawings in case of proprietorship concern . If it is any other type, can debit in P& L A/c.
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