Provision of Tax & advance Tax
This query is : Resolved
04 June 2010
Weather Provision of Tax & advance Tax can be shown seperately in Balance sheet till the Assessment for that year made or can be written-off in the same ledger before the assessment in mentaining books of accounts of the company ?
which is the right process ? or
what is the right procedure of mentaining book of accounts for this ?
which is the right process ? or
what is the right procedure of mentaining book of accounts for this ?
04 June 2010
Provision for Tax and advance tax should be shown separately in the balance sheet till the assessment for that year is completed in all respect.
Message likes :
1 times
04 June 2010
My view is same as above but accounting standards recommends set off.
Message likes :
1 times
04 June 2010
what about in mentaining books of accounts ?
In which AS.
In which AS.
04 June 2010
AGREED WITH MR. PALANI. IT SHOULD BE SHOWN SEPRATELY ASSESSMENT YEAR WISE, TILL ASSESSMENT IS MADE FOR THAT PARTICUALR ASSESSMENT YEAR.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Value of property in capital gain
- Annual return in Gst
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
