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DHEERAJ PUJARI (Querist)

14 August 2017 Sir
of provision for taxation made of Rs 408206.00
& Advance Tax Payable Rs 125000.00
or TDS Rs 145259
& Self Assessment Tax of Rs 110817.00
how will entered this entry.

Thanks

RAJA P M

RAJA P M (Expert)

14 August 2017 Advance Tax Payable or Paid...?

DHEERAJ PUJARI

DHEERAJ PUJARI (Querist)

14 August 2017 advance income tax already paid
sir pls clear

RAJA P M

RAJA P M (Expert)

14 August 2017 Yes... I'll clear you query.
But, I want some clarifications right...!
1. How many Rs payable amount to ITD after 31/03/201...? Rs. 408,206 or 408,206-125000=283206...? or 408,206+125000=533,206?
2. Provision is after less TDS amount or Not less TDS amount...?
3. Self Assessment Tax is actual or Approximate...?

DHEERAJ PUJARI

DHEERAJ PUJARI (Querist)

14 August 2017 provision actually made of Rs 408206
Actual TDS deducted by party of Rs 145259
Actual Advance Tax Deposited Rs 125000.
Actual Self Assessment Tax Paid of Rs 110817.00

RAJA P M

RAJA P M (Expert)

14 August 2017 Okay. i'll reply the adjustments. But, Your above said reply is not understood. Bcoz, Provisions is entered only payable amount. Your provision 408256 and advance tax 125000 (if its paid on or before 31st mar) then your provision is not matched your Tds amount and assessment amount.....

RAJA P M

RAJA P M (Expert)

14 August 2017 Your above said amount is not matched to anyone...

RAJA P M

RAJA P M (Expert)

14 August 2017 Dr. Provision amount - 145259
Cr. TDS Received - 145259......... After the entry TDS Balance is 0.

Dr. Provision Amount - 110817
Cr. Tax paid Amount (Self assessment) - 110817... After the entry Tax paid amount is 0.

Dr. Provision Amount - 125000
Cr. Advance Tax amount - 125000. After the entry Advance Tax amount is 0.

After all entry ll be passed Provision amount's balance is Rs. 27130.....

DHEERAJ PUJARI

DHEERAJ PUJARI (Querist)

14 August 2017 sir thanks please also tell me Rs 27130 in which ledger will be taken

RAJA P M

RAJA P M (Expert)

14 August 2017 Above said values are correct then it ll be adjusted to Proprietor's current/capital account....

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