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Profit & loss

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self
289 Points Joined May 2018
sir kya hume sole proprietor k case k income tax ko p&l m deka saktai h
ki direct provision bnana hoga
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On 17 May 2021 at 20:37 Report
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tax consultant
3306 Points Joined October 2018
Its your choice how you like to draw p&l. but in itr3 you have to disallow it.
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On 17 May 2021 at 20:53
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Chartered Accountant
24588 Points Joined November 2019
Provision should be made but in companies balance sheet partners income tax should not be shown
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On 17 May 2021 at 21:05
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Practising CA
8954 Points Joined December 2013
It's better to put income tax directly under capital account on payment basis in case of a sole proprietor. This would avoid unnecessary complications of disallowance etc.
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On 17 May 2021 at 22:28
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CMA
13117 Points Joined May 2009

Usual practice is to take to make provision

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On 17 May 2021 at 22:28
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tax consultant
3306 Points Joined October 2018
Its your choice, how you like to present it.
people adopt different presentation styles. there is no single way of presenting it.
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On 18 May 2021 at 09:52

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