Sir
I have found two different treatments in respect of IT payment.
1. Posting to P& L account
2. Posting to capital of Proprietors/Individual (in case of sole proprietary firm).
please clarify the difference 🙏
In case of firms, share of profit after tax would be transferred to the partners account in the profit sharing ratio.
T R SOOD & CO
New Delhi
CA Inter
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SSGS and Associates
Chennai
CA Inter
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SMJ global advisors pvt ltd
New Delhi
B.Com
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O P Bagla & Co LLP
New Delhi
CA Inter
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CAclubindia
