ADVANCE TAX THROUGH HIS PERSONAL BANK ACCOUNT

A PROPRIETOR SHIP HAS PAID AN ADVANCE TAX THROUGH HIS PERSONAL BANK ACCOUNT
DO WE WANT TO PASS AN ENTRY IN TALLY IF SO PLEASE EXPLAIN THE ENTRY. PLS HELP
Replies (2)
Quick Summary
This discussion addresses how to record advance tax payments made from a proprietor's personal bank account within Tally accounting software. The recommended journal entry involves debiting the 'Advance Tax' account and crediting the 'Capital' account. This ensures the transaction is properly reflected in the business's financial records.

You have to pass journal entry

Advance Tax a/c Dr
To Capital a/c
Thanks for your information bro...

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