Income tax provision
This query is : Resolved
07 June 2014
what would be accounting entry for excess tax provision .and under which head it will appeared ?
Amol S Joglekar
(Expert)
07 June 2014
excess tax provision should be written back to general reserve. Normally this is done after the assessment is completed by the assessing officer.
Ganeshbabu K
(Expert)
07 June 2014
Shown as prior year tax in statement of profit and loss
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