Partnership

This query is : Resolved

survesh (Querist)
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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

Aditya Maheshwari

Aditya Maheshwari (Expert)
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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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