HI Friends
Whether the tax paid for earlier years shown seperately or it is clubbed in 'Current tax' in "Provision for tax" in Profit & Loss account.
Regards
Amit
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Earlier year Tax Expenses
Replies (4)
It Should Be Separately Show As " Tax on Self Assessment" Below The Line
Thanks Ayush
Can you please tell me under which AS it is specified?
There are No Such Specific AS For This.
But U May Refer AS-22 Accounting For Tax.In That Same Concept is There if It Is Paid For earlier Years.
The Above Accounting is Based on GAAP in India.
Thanks Ayush
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