What will be the journal entry of provision for income tax
in the financial year .

Answer Posted / sapna agarwal

profit & loss A/C Dr
To provision for tax A/C
(being provision created for the financial year)

Is This Answer Correct ?    5 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

With scan-based trading, are retail companies creating inventory at the point of sale or recording income/expense?

1954


what is similarites between tata motors and airtel

2168


How do we return the loan in equal installments with interest in tally

1661


1.What are the basic accounting Standards ?? 2.What is the main importance of Bank Reconcilation Statement? 3. What is Form 407 in Vat ??

1634


explain the difference between LIFO and FIFO?

729






How can a Society be converted to a Private Limited Company in the Real Estate Industry and at the same time have the least tax liability upon it's profits earned during the financial year closing

1778


how MIS statements used in accounts receivables n payables? n what is the advantage of this reports?

1466


do we have to learn all the shortcutkeys in tally.i am from non commerce background ,where should i start from.

1542


What Question ask in MARKIT Company?

6517


what is your achievements?

1519


what is forecast

1116


How to enter PO in SAP

1460


Short Answer on __________written Down value

1509


What type of Questions are asked for Interview in Infosys - Financial Process. Any one who is into Research Analyst or Process Executive role, kindly contribute the Questions faced by you?

1773


What is written off?

1655