Revised scedule
Querist : Anonymous
suppose my tax is 50 and advance tax is 30 or tax is 30 and advance tax is 50
please provide the answer
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
2)advance tax entry for 30
3)balance will be tax payable or tax refundable
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