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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Profit & loss
Replies (5)
Quick Summary
Its your choice how you like to draw p&l. but in itr3 you have to disallow it.
Provision should be made but in companies balance sheet partners income tax should not be shown
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.
Usual practice is to take to make provision
Its your choice, how you like to present it.
people adopt different presentation styles. there is no single way of presenting it.
people adopt different presentation styles. there is no single way of presenting it.
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