Itr

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

21 July 2013 Where to Show Advance Tax,Self Asstment Tax in ITR 4???
Should i show it in "Balance with revenue authorities" with Tds??

Pls help!!!

Thanks

Ganeshbabu K

Ganeshbabu K (Expert)
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21 July 2013 provide details in Sheet name "IT"

refer

https://law.incometaxindia.gov.in/DITTaxmann/IncomeTaxRules/PDF/Ay-2013-2014/instructions_ITR_4.pdf

Thanks & regards
Ganesh babu k

Querist : Anonymous

Querist : Anonymous (Querist)

22 July 2013 No, I mean where to show in b/sheet??
either in current asset ot should i deduct it from my capital???

Ganeshbabu K

Ganeshbabu K (Expert)
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22 July 2013 1)advance tax paid will be in current asset in books of 12-13

2)later after computation of tax ..tax payable will be ascertained and provision for tax entry will be passed in books on 31.march which will be current liability.

3)now return filed. self assessment tax paid

4)entry for self assessment tax would be

Provision for income tax A/c Dr
To income tax paid

(being self assessment tax paid)

5)and you need to adjust advance tax paid also to provision for income tax..

Provision for income tax A/c Dr
To Advance tax paid

Now all these temporary accounts closed..

Thanks & regards
Ganesh babu k

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