How to record this entry in books of acoounts and tally
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 June 2013
i have paid rs 40000 asadvance tax for f.y2012-2013 & a.y 2013-2014.
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.
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.
28 June 2013
Open Advance Tax AY 2013-14 A/c and Income Tax A Y 2012-13 A/c.
.
In case the assessee is a Proprietor, transfer Income Tax A Y 2012-13 A/c to his capital account.
.
Retain Advance Tax A/c in the balance sheet . It can be opened under the head Loans & Advances.
.
.
In case the assessee is a Proprietor, transfer Income Tax A Y 2012-13 A/c to his capital account.
.
Retain Advance Tax A/c in the balance sheet . It can be opened under the head Loans & Advances.
.
Querist : Anonymous
Querist :
Anonymous
(Querist)
28 June 2013
thanks for valuable answer
income tax is posted under which a/c ?
sir
income tax is posted under which a/c ?
sir
28 June 2013
Capital account.
.
.
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