Provision for tax
This query is : Resolved
17 March 2017
How we will treat balance left in provision for tax? Is it carry forward to next year or not?
17 March 2017
If tax paid is less than provision for tax to extent of tax liability created, Balance is liable to pay same can c/f,
If wrong provision or excess provision made same can be reversed or adjusted.
If wrong provision or excess provision made same can be reversed or adjusted.
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19 March 2017
If Provision of tax is done excess then you have to set off the excess amount of tax at the time of doing tax entry.
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