Treatment of tax on regular assessement paid in cy
This query is : Resolved
15 September 2013
Hi,
A company whose case is pending judgement before ITAT for AY 1999-2000 has been paying tax on regular asst since Nov 12 till date. What would be the treatment of the same for taxes so paid in the books of the Co. in CY - Should it be treated as expense or under some other head ??
Thanks
A company whose case is pending judgement before ITAT for AY 1999-2000 has been paying tax on regular asst since Nov 12 till date. What would be the treatment of the same for taxes so paid in the books of the Co. in CY - Should it be treated as expense or under some other head ??
Thanks
15 September 2013
Hi Shruti,
The balance tax on assessment should be adjusted to the Provision for tax and then the balance amount should be written off to the P/L account after adjusting the taxes already paid
The balance tax on assessment should be adjusted to the Provision for tax and then the balance amount should be written off to the P/L account after adjusting the taxes already paid
15 September 2013
Dr.prior year tax A/c
Cr.Bank Account
it is disallowed
Cr.Bank Account
it is disallowed
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS 194-T applicability
- Price inclusive or exclusive of GST while made entry in P& L Account
- Applicability of GST on Salary Reimbursement Component
- Tds on commission charges
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- Dep. as per companies act
- Need Professional Opinion AY 2012-13 Old Demand
- Withdrawal in cash from partners capital account by partner
- FAST-DS Scheme - Foreign Assets
- Renovation exp. in flat by family member
- Tax rate change regarding
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
Quick Links
ARTICLESHIP
15 September 2026
Freelance Taxation Content Writer Intern
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER
Anupam Parashar & Co.
Ghaziabad
CA Final
View Details
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups Cleared
Getmyca Consultant Pvt Ltd
New Delhi
CA Inter
View Details
22 September 2026
Account Assistant
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
ARTICLESHIP
07 September 2026
CA Articles
Kothari Jain Patil & Chartered Accountants
Pune
CA Inter
View Details
CCI
Pro
CAclubindia
