PROVISION FOR TAXATION

Cagaurav (58 Points)

10 May 2007  


Hi This is GAurav


I am pe2 qualified in may 2005. but i have a problem
i am working  in a smalll firm
can any one tell me  how to set of provision for taxation with advance tax, tax dedtucted at source and deferred tax liablity. and how to show these things in accounts as per company act.

At which time entry of this effect will be passed on 31st march or 31st october. plz. tell me these things thru journal entries.

My question is this

PROVISION FOR TAXATION==> RS. 3000000
ADVANCE TAX PAID====>        RS.    800000
TDS====>:                            RS.     276000
DEFERRED TAX LIABILITY====>RS.   729000

PL.Z TELL ME THE ABOVE TREATMENT OF PROVISION FOR TAXATION


Best Regards
Gaurav Rustagi
cagaurav1234 @ gmail.com