Revised scedule

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 August 2013 In revised schedule Vi advance tax and provision for tax where to show

suppose my tax is 50 and advance tax is 30 or tax is 30 and advance tax is 50
please provide the answer

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 August 2013 i) Tax 50, Advance tax 30.
Balance 20 (Cr)may be disclosed as follows.

Line item:- Current liabilities.
Sub-line item :- Other current liabilities
A/c head :- other payable.

ii)Tax 30, Advance tax 50.
Balance 20(Dr) may be disclosed as follows.

Line item :- Non current assets.
Sub-line item :- Long-term Loans & advance
A/c head :- Other loans & advances.

Querist : Anonymous

Querist : Anonymous (Querist)

10 August 2013 provision for tax has do be done or not

Querist : Anonymous

Querist : Anonymous (Querist)

10 August 2013 can we shoe provisionfor tax tax rs 20 after netting advancse tax

Ganeshbabu K

Ganeshbabu K (Expert)
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23 August 2013 1)provision for tax entry to be passed for 50

2)advance tax entry for 30

3)balance will be tax payable or tax refundable

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