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
- Report Swiggy and Zomato Sale in GSTR1
- Form 10IE before due date and ITR filed after due
- BUC SALE
- Seeking Clarification on Tax Implications for Ex-G
- Tax for Advisor service
- HRA EXEMPTION FOR TWO DIFFERENT CITIES
- Bg claim period charges
- TDS deducted u/s 194N but showing as 194NF in 26AS
- Traces - Unable to register
- Partner required for 10 yr old firm on fix basis
Related Threads
Trending Online Classes
-
Certification Course on GSTR-3B Reconciliation with GSTR-2B through AI Tools
CA Deepak Gupta15 July 2025
CAclubindia
