Income tax paid amount in PL
Himanshu Agarwal (Proprietor) (186 Points)
25 September 2023If client has paid income tax for the FY 2021-22, CAN IT BE SHOWN UNDER EXPENSES SIDE OF PROFIT AND LOSS OR how would it be shown?
Himanshu Agarwal (Proprietor) (186 Points)
25 September 2023
prasad Nilugal
( GST Practitioner & Accounts )
(14868 Points)
Replied 25 September 2023
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 25 September 2023
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 26 September 2023
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 26 September 2023
Originally posted by : sabyasachi mukherjee | ||
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Income tax paid amount paid in pl | ![]() |
Super Super..
Eswar Reddy S
(CFO- at NHTF)
(58275 Points)
Replied 27 September 2023
N. A
(JOB)
(45 Points)
Replied 28 September 2023
Income Tax paid is a personal expense of the owner, hence this has to be debited to drawings account.
sabyasachi mukherjee
(27732 Points)
Replied 28 September 2023
RAJA P M
("Do the Right Thing...!!!")
(128101 Points)
Replied 28 September 2023
It's under capital account for proprietor...
Shaw Randolph
(2 Points)
Replied 02 October 2023
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