Journal entry for advance tax

sayad (Executive) (175 Points)

09 April 2022  

what is the journal entry for advance income tax paid and how and what will be the entry for the next year for advance

for eg  Mr X paid advance tax for 2022-23  and he deposited  in the bank on 3  March  2022 ( 2021-2022)


and what entry to pass if the amount is due for paymnet but not paid in current year and paid in next year

For ex  X  has to make labour payment of rs 10000 on 31.3.2022 but he dont pay  and make and arrangemnet to pay on  15.04.2022  since the paymnet is due for current year but it is made next FY