Adjustment for self assessment tax & Provisions

A/c entries 4431 views 3 replies
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Chartered Accountant
413 Points Joined September 2007

Hi everybody,

I wanna ask that if we make provision of tax for the year & while paying self assessment tax what should be the entry made in tally for adjustment of Provision of tax, Advance tax & Self asessment tax or any tds, if we wanna find if their is any refund or payable.

Pls. tell me. Thx

 

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On 11 March 2008 at 20:42 Report
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ACA
618 Points Joined March 2007
a) In case of payment of Self Assessment Tax Dr. Provision for Income Tax xxxxx Cr. Advance Tax xxxxx Cr. TDS xxxxx Cr. Bank A/c. xxxxx b) In Case Advance Tax & TDS exceeds Income Tax laibility Dr. Provision for Income Tax xxxxx Dr. IT Refund (Specify A.Y) xxxxx Cr. Advance Tax xxxxx Cr. TDS xxxxx
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On 12 March 2008 at 03:10
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Chartered Accountant
413 Points Joined September 2007
ahh gr8 thx a lot m8.
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On 12 March 2008 at 21:02
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ACCOUNT Manager
21 Points Joined July 2012

 Dear Friend  

now i have start our career recently and i have confused regarded  tax adjustment pls help me

I Handel a case of our client wihch balansheet show provison of tax liablitiy Rs 729 and his itr varification

form show self assesment  tax Rs1131,i want know about what will be entry in account entery

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On 11 August 2012 at 11:23


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