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Provision for taxation

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Querist : Anonymous

Querist : Anonymous (Querist)

28 June 2013 Dear Sir,

I have not made the provision for income tax for year 2011-12
My Tds Receivable was Rs. 30,000/-
As per my working income tax payable was Rs. 64663/-
In current year i paid Rs. 34663/- and pass the entry as below
self assetsment year2012-13 Dr. 64663
To Tds Receivable Cr. 30000
To Bank a/c Cr. 34,663
Now what i should do pl. let me know.
my all accounts are nil do i require to any modification

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

28 June 2013 Now transfer the Self Assessment year 2012-13 A/c's Balance to your capital account.
.

Querist : Anonymous

Querist : Anonymous (Querist)

28 June 2013 Dear Sir,

There is no balance both accounts areknocked off.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

28 June 2013 On the basis of your query it does not seem so. Just tell me which account shows a Dr. balance of Rs. 64663/- now. Transfer that to capital a/c.
.

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