If Advance deposited Rs.200000/-, TDS diposited Rs.100000/-
& Provision for Income Tax is Rs.250000/- but It department
raise the Assessment Tax is Rs.350000/-. What will be the
journal entries?
Answer Posted / s.balakrishnan
Dr Assessment tax 100000
Cr Provision for IT 100000
Dr Advance tax 50000
Cr Tax payable acct 50000
Dr Provision for IT 350000
Cr Advance tax 250000
Cr TDS receivable 100000
Is This Answer Correct ? | 5 Yes | 7 No |
Post New Answer View All Answers
when we want bought a new asset (for ex. car)how we calculate our income with the eye of income tax
hi which form issue again ogs purches & sales ? which is the tax rat we issue c form?it's cst3% is avelabe to issue the c-form?
Hi, Can somebody help me to know whether WCT MVAt is applicable on catering service, if the caterer is uses his own material and labour for doing cooking in our premises and later the product is sold in the same premises for the employees. Kinldy advice whether WCT will be deducted on this.
how can I know the status of the service tax filing of my organisation when I don't have any details except St number. I want to know till what date the returns are filed etc as I have recently joined.
i want about TDS full details with Limit,Rate and Entry in Tally ?
WHAT WOULD BE THE RATE OF DEPRECIATION OF RAILWAY SIDING AT STRAIGHT LINE METHOD UNDER COMPANIES ACT?
what is procedure to get c form? what is procees to get vat /tin no
How To Calculate Gross Sales for vat return -15
what is the difference b/w deferred tax exp and defeered tax liab? should Deffered Tax expense be deducted b4 computing Net profit?
We are a UK company selling electronic s/w licenses to customer in India. We have a PAN Number. Why is TDS being deducted on a product? Why is TDS calculated on the invoice value - surely it is supposed to be on Income and not Turnover? What is the correct TDS % deduction?
HOW TO CALCULATE PF, ESI, VAT, SALES TAX ETC.,
Any one can mail soft copy of Balance sheet,Trading and profit and loss alc.of a small firm or small co for study
How much is the tax & surcharge % against d-1 form. on cement,steel,electrical item,RMC,
What are the deductions under salary head?
i want know central excise duty codes with cess?