Tds asset and self assessment tax

sujata (article clerk) (37 Points)

07 June 2013

how to close the very old TDS receivable legder, Advance tax ,provision for tax, provision for gratutity and provision for deferred tax???

also Provision for FBT is showing in trail.

Plz experts give me a detailed view.

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CMA Ramesh Krishnan (Cost & Management Accountant) (71609 Points)
Replied 09 June 2013

Provision for income tax need to be adjusted with your actual income tax payment & tds receivable for the particular financial year.

FBT also need to be adjusted with the fbt payment for the particular financial year

Grautity provision need to be corrected with every year provision requirement whether debiting or crediting the gratuity expenses

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