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Provision

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Guest (Querist)
12 April 2013 Income Tax as per Computation is Rs 55000.
TDS is Rs 40000
Advance Tax is Rs 30000.

So why a provision of Rs 55000 is required in accounts when i do not have to pay anything or there is no outflow of resource.
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srinivas reddy

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srinivas reddy (Expert)
12 April 2013 you need not required to maintain any privison for the accounting year
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