Query

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C.A. Sandeep Wawhal

CA PGDFM BCom

1831 Points Joined June 2010

Simply LTD (Limited) companies are corporate assessee whether Private or Public

Replies (18)

C.A. Sandeep Wawhal

CA PGDFM BCom

1831 Points Joined June 2010

Simply LTD (Limited) companies are corporate assessee whether Private or Public

Shah Tarun

Student

800 Points Joined May 2008

Form 3CA : is for the assesses who are required to get it's accounts audited under any other law,like companies act...

Form 3CB : is for the assesses who is not required to get his accounts audited under any other law..

As company,whether Pvt. Ltd. or Ltd,requires to get it's accounts audited under Companies Act,The form CA is applicable to them.In case of proprietary concerns,partnership Form 3CB is applicable..

srinivass

CA Final

2466 Points Joined December 2010

Originally posted by : CA Anjali Aswal
	you have to make provision for taxation for the tax liability on 31st march. Also on the same date Advance Tax would be standing in assets side of the balance sheet. In next year i.e. on 1st April when you will set off the amount of provision and Advance Tax the balance will stand as Refund of Income Tax. Entry on 31st March Profit & Loss A/c Dr. 100000 Cr. Provision for TAxation 100000 Entry on 1st April Provision for Taxation Dr. 100000 Refund of Income Tax Dr. 25000 Cr. Advance Income Tax 125000 Its all what I think should be the accounting treatment. Any corrections plz reply.

pankaj

student

22 Points Joined February 2010

if i sold agriculture land after fulfilling all conditions prescribed in meaning of capital assets excluding capital assets then what should be profit on sale of agriculture land.