Journal entry of Provision for taxation
This query is : Resolved
21 May 2022
Journal entry of Provision for taxation , whether provision for taxation made after deducting TDS Receivable, Advance tax paid. and
Also for Interest expenses.
Also for Interest expenses.
21 May 2022
yes Provision for Taxation is not allowable Expenses it need to be apportioned against profit Total Tax determined adjusted with profit net payable under provisions determined after adjusting TDS Receivables and Advance Tax actual Payable at the time of filing or taxes paid subsequent year of filing need to provision
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