Provision
This query is : Resolved
09 May 2018
Dear Sir,
we have tax liability as on 31 march 2018 Rs .63000/- but we deposit Rs .27000/- in Dec 17 so please suggest what entry should be in tally for provision of income tax in Partner ship firm
Dear Sir,
we have tax liability as on 31 march 2018 Rs .63000/- but we deposit Rs .27000/- in Dec 17 so please suggest what entry should be in tally for provision of income tax in Partner ship firm
09 May 2018
Credit Provision for Income Tax payable by Rs 36000/ and debit to all the partners in their profit sharing ratio.
Message likes :
1 times
09 May 2018
Thank you Sir
Can We need to mention Tax payable or can we write Provision for income tax
Can We need to mention Tax payable or can we write Provision for income tax
09 May 2018
'Provision for Income tax' is the appropriate a/c head.
Message likes :
1 times
09 May 2018
"Provision for Income Tax " sounds better. Use this only.
Message likes :
1 times
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
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- TDS related Query_Liquidated Damages
- CA IPCC Registeration in 2012, Is my registration Active or Expired
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Plot of land. Cost of Acquisition
- Long Term Service award taxability in hands of company
- Last year TDS Claim
- Free lancer income
- Form 27Q Correction statement taking too long to update on IT Portal
- ITR selection for salaries and capital gain less than L
- Showing Gift from relative in ITR for this year
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
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
