Short provision of income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
03 December 2012
what should be the treatment in tally if we have made short provision of tax when we have paid a higher amount than that
e.g we have made provision for tax of rs. 810 and real tax liability which we have paid is Rs. 1980
can we adjust it from short & excess
in addition i want to ask whether we enter mat credit in tally as one of my friend tell me that mat credit which we claim can be entered in tally
e.g as income tax liability is rs. 810 and mat is 1980 so can we entered it in tally as
Provision for tax Dr. 810
Mat credit (A.y. 1213) Dr. 1170
bank 1980
e.g we have made provision for tax of rs. 810 and real tax liability which we have paid is Rs. 1980
can we adjust it from short & excess
in addition i want to ask whether we enter mat credit in tally as one of my friend tell me that mat credit which we claim can be entered in tally
e.g as income tax liability is rs. 810 and mat is 1980 so can we entered it in tally as
Provision for tax Dr. 810
Mat credit (A.y. 1213) Dr. 1170
bank 1980
Aditya Maheshwari
(Expert)
03 December 2012
1. adjust it from short & excess
2. entry is proper
2. entry is proper
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