Advance tax a/c entry partnership firm

IF WE PAID ADVANCE TAX ON 15TH SEPT WHEN SHOULD WE DEBIT THIS TAX TO PARTNERS CAPITAL ACCOUNT  

Replies (2)

If Advance Tax is paid on behaft of the partner, debit to partners current account. If advance tax is paid on behalf of the firm Debit to Advance Tax Account.

At the time of deposit.

thanks

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register