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How to show tds recd.& income tax paid in pl a\c

This query is : Resolved 
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(Querist)
27 August 2013 Dear sir
Please help me
qustion for the F.Y-2011-12
TDS Deducted By party = 10
income tax paid = 2
Total = 12
income Tax payable = 12

how to show in profit & loss a\c
becoz income tax paid in sep-2012,when balancesheet will final 2012-13 than income tax amount stand Rs.2.how to provision,,,,,,
plz suggst me
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Ganeshbabu K

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Ganeshbabu K (Expert)
27 August 2013 Income tax paid will Knock off the current liability which arises by provison for tax entry in previous year
.
.
entries is as follows

Dr.Current Tax(P&L A/c) 12
Cr.Provision for tax A/c 12
(being provision for tax 11-12)

Dr.Provision for tax A/c 12
Cr.TDS receivable 11-12 A/c 10
Cr.Income tax payable 11-12 2

Current year that CL will closes on payment of IT

Dr.Income tax payable 11-12 A/c 2
Cr.Bank A/c 2
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