Provison for income tax !!
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 November 2014
Hello CCI members
what is the treatment of Provision for Income tax?? and what is current year's tax expense and its accounting treatment.
Thanks
what is the treatment of Provision for Income tax?? and what is current year's tax expense and its accounting treatment.
Thanks
05 November 2014
Income tax Dr....................
To provision for Income tax..................
Provision for income tax Dr.............
To Advance Tax
To TDS
To Bank.......................
Current year tax means income tax+Deferred tax asset/liability
To provision for Income tax..................
Provision for income tax Dr.............
To Advance Tax
To TDS
To Bank.......................
Current year tax means income tax+Deferred tax asset/liability
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