Why provision for income tax

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This discussion explores why partnership firms often don't make a specific provision for income tax. It clarifies that while it's possible to make such a provision, it's not standard practice. The key questions addressed are the effects of making a tax provision on the profit and loss account and how it would alter the profit distribution among partners.

21 February 2022 why provision for income tax is not made in the case of partnership firm.

22 February 2022 no bar, you can make provision for tax

22 February 2022 IF PROVISION MADE THEN WHAT WILL BE THE EFFECT IN PROFIT AND LOSS ACCOUNT AND PARTNER SHARE. PLEASE REPLY


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