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(Querist)
23 February 2016 I have paid income tax demand for F.Y 2012-13 of a firm =8990.Under what head I will enter it in tally? Whether I have to debit it from partners accounts?
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Ganeshbabu K

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Ganeshbabu K (Expert)
23 February 2016 Dr.Prior year taxes(expense)
Cr.Bank
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Gokul Sharma

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Gokul Sharma (Expert)
23 February 2016 Income tax paid is not allowable exp under income tax act. You have to disallowed while making computation
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