Income tax provision entries
This query is : Resolved
ramachandra
(Querist)
12 August 2014
sir/madam, please give me accounting entries for following transaction
whether entries for provision of tax are shown net of advance tax,TDS receivable or the advance tax and TDS is shown separate?
whether entries for provision of tax are shown net of advance tax,TDS receivable or the advance tax and TDS is shown separate?
Rupesh Jain
(Expert)
12 August 2014
you can show net tax or separately.
provision of tax a./c dr
to TDS receivable
to advance tax depostited
to bank a/c
provision of tax a./c dr
to TDS receivable
to advance tax depostited
to bank a/c
CA UMESH DULAL
(Expert)
12 August 2014
Profit & Loss A/c Dr
To, Provision for Taxation.
After receiving intimation u/s 143(1) or completion of assessment, you are write off against Advance Tax, TDS
Profit & Loss A/c Dr
To, Provision for Taxation.
After receiving intimation u/s 143(1) or completion of assessment, you are write off against Advance Tax, TDS
CA UMESH DULAL
(Expert)
12 August 2014
Profit & Loss A/c Dr
To, Provision for Taxation.
After receiving intimation u/s 143(1) or completion of assessment, you are write off against Advance Tax, TDS
Profit & Loss A/c Dr
To, Provision for Taxation.
After receiving intimation u/s 143(1) or completion of assessment, you are write off against Advance Tax, TDS
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- EPF ECR NEW FILE SEP 17TH 2026
- Oct 2025 Invoices
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- GST on Renting godown to KFCSC for Storage of Raagi
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Capitalgain tax purposes for valuation report compulsory
- TDS on Fixed Assets purchased
- Import of Software Service.
- TAX AUDIT ON PROFESSIONAL INCOME
- Capital Gail Exemption Certificate
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
