I enrolled for porfessional tax recently and had to pay the previous 2 years dues. What will be the journal entry for the arrears paid? No liability was shown in the previous perid
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Journal entry for professional tax
Replies (4)
due entry will be
pt a/c. Dr
to PT payable A/c
payment entry will be
PT payable
to bank
pt a/c. Dr
to PT payable A/c
payment entry will be
PT payable
to bank
Exactly precise.
what is the meaning of professional tax credit mean
Under which head will PT A/C and PT Payable A/C come under?
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