How to record this entry in books of acoounts and tally
Querist : Anonymous
and paid income tax rs 25000 for a.y 2012-2013 & f.y 2011-2012.
pls help me how we can posted these entries in books of accounts and tally also.
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In case the assessee is a Proprietor, transfer Income Tax A Y 2012-13 A/c to his capital account.
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Retain Advance Tax A/c in the balance sheet . It can be opened under the head Loans & Advances.
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Querist : Anonymous
income tax is posted under which a/c ?
sir
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