Provision for income tax in profit & loss a/c
This query is : Resolved
Sankar Chakraborty
(Querist)
02 September 2013
HOW CAN I SET PROVISION FOR INCOME TAX FIGURE IN PROFIT & LOSS A/C AS WELL AS BALANCE SHEET ?
USING CALCULATOR OF INCOMETAXEFILING WEBSITE WHERE TO INPUT
ASS YEAR = 2013-14,
TAX PAYER : DOMESTIC COMPANY,
NET TAXABLE INCOME: 10066004.00
NOW TAX PAYABLE FIGURE WILL BE POPULATED : 3157980.00 (A)
OR,
BY FOLLOWING CALCULATION
NET PROFIT AS PER PROFIT & LOSS A/C : 10066004.00
ADD: DEPRECIATION AS PER CO. ACT : 12887674.00
LESS: DEPRECIATION AS PER I.T. ACT : 11141853.00
TAXABLE INCOME : 11811831.00
TAX PAYABLE : 3832348.00 (B)
WHICH FIGURE TO TAKE IS IT ‘A’ OR ‘B ‘ ???????? PLEASE GUIDE
ALSO PLEASE LET ME KNOW MARGINAL RELIEF IS APPLICABLE OR NOT IN THIS CASE ?????
BECAUSE I THINK ‘A’ FIGURE IS POPULATED AFTER TAKING MARGINAL RELIEF, PLEASE GUIDE
USING CALCULATOR OF INCOMETAXEFILING WEBSITE WHERE TO INPUT
ASS YEAR = 2013-14,
TAX PAYER : DOMESTIC COMPANY,
NET TAXABLE INCOME: 10066004.00
NOW TAX PAYABLE FIGURE WILL BE POPULATED : 3157980.00 (A)
OR,
BY FOLLOWING CALCULATION
NET PROFIT AS PER PROFIT & LOSS A/C : 10066004.00
ADD: DEPRECIATION AS PER CO. ACT : 12887674.00
LESS: DEPRECIATION AS PER I.T. ACT : 11141853.00
TAXABLE INCOME : 11811831.00
TAX PAYABLE : 3832348.00 (B)
WHICH FIGURE TO TAKE IS IT ‘A’ OR ‘B ‘ ???????? PLEASE GUIDE
ALSO PLEASE LET ME KNOW MARGINAL RELIEF IS APPLICABLE OR NOT IN THIS CASE ?????
BECAUSE I THINK ‘A’ FIGURE IS POPULATED AFTER TAKING MARGINAL RELIEF, PLEASE GUIDE
Sankar Chakraborty
(Querist)
11 September 2013
is there any expert to answer ????
please answer someone
open????????????
please answer someone
open????????????
10 August 2024
https://docs.google.com/document/d/1ps1m8l-k_VUc714jktSrWaOWcqLPVorgD4bLqbYyAPs/edit?usp=sharing
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