Fahim Shaikh (184 Points)
18 March 2021
prasad Nilugal
( GST Practitioner & Accounts )
(14183 Points)
Replied 18 March 2021
Advance Tax Payment under Short Term Loans & Advances , under Current Asset asset Side Balance sheet as per Schedule III of the Companies Act 2013
Pass J. E
Advance Tax A/c Dr
To Bank A/c Cr
( Payment of Advance Tax to Govt A/c )
CA. Sourav Sarkar
(Chartered Accountant )
(24578 Points)
Replied 18 March 2021
prasad Nilugal
( GST Practitioner & Accounts )
(14183 Points)
Replied 18 March 2021
We are paying Tax in advance therefore It is under Advances under Current Asset and Same was mentioned above .
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