Fund flow statement income tax treatment

Akshita (student) (108 Points)

24 August 2012  

please explain with concepts the treatment of the following

  31.3.2008 31.3.2009
provision for tax(cr.) 70,000 1,00,000
advance tax payment(Dr.) 80,000 1,05,000

additional information:

during the year, income tax for the year 2007-2008 was assessed at Rs.76,000. a cheque of Rs.4,000 was received along with assessment order towards refund of income tax paid in excess, by way of advance tax paid in earlier years.


thanks in advance/........