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PROPERTY TAX EXPENSE

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72 Points Posted on 22 January 2019
How can we show in tally property tax paid ?
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On 22 January 2019 at 15:59 Report
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Quick Summary
Property tax paid for business use is recorded as an indirect expense in Tally. The journal entry is: Debit Property Tax (Indirect Expenses) and Credit Bank. If personal property, it is treated as capital withdrawal, not business expense.

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Coaching and Practice in Tax Audit Law
4429 Points Posted on 22 January 2019

Property tax paid if related to business then it will be expense account debit to bank and if in personal nature then capital to bank

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On 22 January 2019 at 16:07
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72 Points Posted on 22 January 2019
can u Tell the entry
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On 22 January 2019 at 16:17
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Coaching and Practice in Tax Audit Law
4429 Points Posted on 22 January 2019

I have written up

54 Reply
On 22 January 2019 at 16:40
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student
138 Points Posted on 22 January 2019
Property tax relating to business is allowed as expense and entry will be Debit Property tax (under head indirect expense) and credit bank
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On 22 January 2019 at 17:29
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72 Points Posted on 22 January 2019
which Head ? can u tell Head name ?
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On 22 January 2019 at 17:50
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student
138 Points Posted on 22 January 2019

In tally while creating ledger Property tax select the head indirect expenses

1 Reply
On 22 January 2019 at 18:11


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