Dear All,
any one can help me how to make adjustment entries for provison for income tax and under which head i have to create a ledger in tally. How it con be effected for accounting pls advice me.
Thanks in Advance .
Shaik ( M.com,IC(W)AI - Inter) (723 Points)
11 May 2011
Dear All,
any one can help me how to make adjustment entries for provison for income tax and under which head i have to create a ledger in tally. How it con be effected for accounting pls advice me.
Thanks in Advance .
Devendra
(Chartered Accountant)
(4775 Points)
Replied 11 May 2011
Following is the Journal Entry to be passed
Income Tax paid A/c Dr. XXX
(grouped under the head Indirect Expense) XXX
To Income Tax Payable A/c
(Being Income Tax Provision made for A.Y _____)
Note : But the Income Tax expense will be disallowed while computing the Income from business.
Regards,
Devendra K
| Originally posted by : Devendra | ||
 |
Following is the Journal Entry to be passed Income Tax paid A/c Dr. XXX (grouped under the head Indirect Expense) XXX To Income Tax Payable A/c (Being Income Tax Provision made for A.Y _____) Note : But the Income Tax expense will be disallowed while computing the Income from business. Regards, Devendra K |
 |
agreed
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