wats the journal entry for payament of Company's Income Tax &
under what head does income tax comes in TAlly
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first create the income tax ledger under group as indirect expenses.
the journal entry is...
Debit: incometax xxxxxx
credit: cash/bank
in payment voucher
| Is This Answer Correct ? | 9 Yes | 3 No |
Advance Tax A/c Dr.
to Bank/cash
(Being Advance tax deposit 1/2/3 or final Installment)
if TDS Deposit
TDS on Professional fees/contract/Salary Dr.
to Bank/cash
(Being TDS deposit for the month of........)
| Is This Answer Correct ? | 4 Yes | 0 No |
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