Tally head
This query is : Resolved
Ajay Mishra
(Querist)
26 July 2012
I HAVE DEPOSITED INCOME TAX AS PROPRIETOR ON 16-7-2012.
1 IS IT INDIRECT EXPENSIVE IN TALLY HEAD ? OR
2 IS IT CAPITAL AC (-) ?
EXPLAIN GROUP HEAD IN TALLY
1 IS IT INDIRECT EXPENSIVE IN TALLY HEAD ? OR
2 IS IT CAPITAL AC (-) ?
EXPLAIN GROUP HEAD IN TALLY
Amol S Joglekar
(Expert)
26 July 2012
For proprietor, it should go to DRAWINGS. For company form, open income tax paid account under current asset.
CA BHARATH KUMAR
(Expert)
26 July 2012
in companies . it should be provission made in 31/03/2012. so you have debit that provision for income tax .
Amol S Joglekar
(Expert)
26 July 2012
First debit it to income tax paid. The journal entry be passed on year end to transfer to provision account.
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