Income tax paid entry

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136 Points Posted on 05 September 2022
aise he ke hamre firm mein income tax pay karna Aya hai 54000+4000interst pay Kiya he aur usme hamne direct ca ke bank account mein Paisa jama karva Diya he 59000 to ub uski entry kaise kar sakte he pls suggest me
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On 05 September 2022 at 17:01 Report
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Quick Summary
A user needs assistance with recording an income tax payment of £54,000 plus £4,000 interest, which was paid directly to their Chartered Accountant's bank account, totalling £59,000. They are seeking the correct accounting entry to reflect this transaction, specifically how to account for the interest paid.

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Practising CA
8954 Points Posted on 06 September 2022
Dr Income tax
Cr Bank
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On 06 September 2022 at 00:14
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136 Points Posted on 10 September 2022
Ye entry kais hogi to usme interest kaha gaya pls reply me
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On 10 September 2022 at 13:57
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Practising CA
8954 Points Posted on 10 September 2022

Interest on income isn't important to consider in books of accounts.

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On 10 September 2022 at 14:21
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136 Points Posted on 13 September 2022
Per aap kya bol rahe wo samaj mein nahi aaraha he
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On 13 September 2022 at 17:09

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