March closing entry
Ankit (Officer) (41 Points)
05 May 2019
During the year jitni bhi fine or interest ki entry hai jo ki tax k late payment ki vajah se hui ho uski closing entry kya hogi.
3 Replies
Giridhar S Karandikar
(Team Lead)
(7553 Points)
Replied 05 May 2019
transfer it profit and loss account
Ankit
(Officer)
(41 Points)
Replied 05 May 2019
Sir ek video me ye bataya gaya tha ki Capital account main transfer karna padega
Giridhar S Karandikar
(Team Lead)
(7553 Points)
Replied 05 May 2019
as per accounting principle all expenses shud be routed through profit and loss except drawings.
while computing taxable income all fines interest and penalty are disallowed if debited to profit and loss.
while computing taxable income all fines interest and penalty are disallowed if debited to profit and loss.
Recent Topics
- ITR-2 Excel Utility for AY-2025-26, My Update on u
- Form 26AS shows a credit and tax deduction under A
- GSTR-1 Export Invoice Query - Partial Payment Rece
- TDS u/s 194-IA - Joint Ownership in Sale Deed, Ful
- Form GSTR-3A Notice - Notice to return defaulter u
- Itr forms released itr 2 3
- Query related to E-invoice
- Project Finance Process
- Miracle on 11-Jul-2025. ITR-2 and ITR-3 Now Availa
- 80ddb and discharge summary
Related Threads
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through AI Tools
CA Deepak Gupta15 July 2025
CAclubindia
