Earlier such taxes would have been debited to capital account. Now you will have to credit to capital account.
Bank A/c Dr.
To Capital Account.
Adjust with capital because you have earlier given the effect in your P/L A/c which is adjusted with capital
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
