ADVANCE TAX THROUGH HIS PERSONAL BANK ACCOUNT

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Working
65 Points Posted on 10 March 2023
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
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On 10 March 2023 at 10:49 Report
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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.

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CFO- at NHTF
58280 Points Posted on 10 March 2023
You have to pass journal entry

Advance Tax a/c Dr
To Capital a/c
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On 10 March 2023 at 11:03
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Working
65 Points Posted on 10 March 2023
Thanks for your information bro...
1 Reply
On 10 March 2023 at 12:05

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