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entries when assessment cloaed
can any one help what are entries to be posted when assessment closed
Replies (4)
Adjust provision for tax and advance tax
For whome you are asking Proprietorship, Individual, Partnership, Company
sir it's company
Kindly follow the audited BS
Normallythe entry are
1) Profit should be transferred to R&S
2) DTA/DTL entry
3) MAT entry if any
4) Depreciation
5) Book Profit/Loss on sale of asset
6) Entry for taxes i.e Prov. for tax, Advance Tax, TDS
7) some other entry depending on your company
Normallythe entry are
1) Profit should be transferred to R&S
2) DTA/DTL entry
3) MAT entry if any
4) Depreciation
5) Book Profit/Loss on sale of asset
6) Entry for taxes i.e Prov. for tax, Advance Tax, TDS
7) some other entry depending on your company
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