Advance Tax

Entry of Advance Tax.

To Advance tax  Dr.

   By Bank A/c   Cr.

Provisional entry of advance tax.

To Provision for tax A/c   Dr.

     By Advance Tax  Cr.

at the time of makking provision  for tax

p&l(apprppriation) a/c....dr

to provision for tax a/c...cr

at the time of making advance paymeny of tax

advance payment of tax (under loans and advances to keep in b/s)  a/c....dr

to bank a/c...cr

incase of tax laibility settiled

provision fot tax a/c...dr

to  tax payable  a/c...cr

at the time of adjustment

taxpayable a/c...dr

tax refund a/c (IF ANY)  a/c...dr

to tax advance payment  a/c...cr

to bank a/c....cr