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provision of income tax

This query is : Resolved 
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(Querist)
08 November 2010 provision of income tax 3300
actual tax paid ,.,,, 3211
tds during the year 20628.
no advance tax paid.....

wat will be the entry to adjust the provision
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
08 November 2010 Written back the excess provision ( 3300-3211 ) to P/L account.
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CA.Madhusudan B.P.

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CA.Madhusudan B.P. (Expert)
08 November 2010 Rohit Kumar
You would have passed an entry for creation of liability right....
Debit Income Tax 3300 Group - P&L
Credit income tax payable 3300 - Provision

Now the entry would be

Debit Income tax payable 3300 Provision
Credit Income tax 89 P&L
Credit Bank/Cash Rs3211 -Current Assets
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