Adjustment entry of provision of income tax

suppose, I have private company...
profit 50000( f.y. 2017-18)
means total tax approximately 15000
advance tax ( f.y. 17-18) 10000
tds receivable (f.y. 17-18) 2000

means self assessment tax 3000

now I will pass entries as followings

1. profit & loss account dr 15000
to provision for tax 15000

2. profit & loss account dr 35000
to reserve and surplus 35000

3. self assessment tax dr 3000
to cash/bank 3000

4. adjustment entry....
provision for tax dr 15000
to advance tax 10000
to self assessment 3000
to tds receivable 2000

my question is.....when we will pass adjustment entry for provision for tax ????

on 31st march 2018 or 31st march 2019????
Replies (2)
Quick Summary
This discussion clarifies the correct timing for passing adjustment entries related to income tax provisions for a private company. It explains the accounting entries for profit, advance tax, TDS, and self-assessment tax. The key question addressed is whether the adjustment entry for the provision for tax should be made on 31st March 2018 or 31st March 2019, with the consensus being that the provision account becomes nil upon payment of self-assessment tax.

For provision as on 31.03.2018, that provision a/c will be nil when you pay the self assessment tax
Ohk...thanks

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