Partnership
This query is : Resolved
21 January 2010
Dear Sir,
My Partner Ship firm has taken TDS benefit against Incometax for FY 2008-09
The opening bal Debit Bal. of TDS Fy 08-09 I Have passed Following entry
Income TAx Dr
TDS Fy 08-09 Cr
Please Say under what head should be Income tax Ac Created. (Group Ac)
Is the Income Tax Ac to be Adjusted against Capital Ac
Is there any other entry Please say.
Regards
My Partner Ship firm has taken TDS benefit against Incometax for FY 2008-09
The opening bal Debit Bal. of TDS Fy 08-09 I Have passed Following entry
Income TAx Dr
TDS Fy 08-09 Cr
Please Say under what head should be Income tax Ac Created. (Group Ac)
Is the Income Tax Ac to be Adjusted against Capital Ac
Is there any other entry Please say.
Regards
21 January 2010
Income Tax A/c should be Adjusted against Capital Ac and be debit to that account or if provision for tax is made then debit in that account.
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