Answer / thakur

Income Tax Dr 350000
To Adv Tax 200000
TDS 100000
Income tax payable 50000

(Being IT assessed by IT dept sett off adv tax and TDS,)

you require journal entry that is above and when you pay
the payable IT the entry will be :-

Income tax payable Dr 50000
To Cash/Bank 50000

Answer / smitha satheesh

Income tax Dr 350000
To Advance Tax 200000
TDS 100000
cash/Bank 50000

(Being IT assessed by IT dept paid after setting off
advance tax & TDS)

Answer / sridhar

income tax a/c 350000

to advance tax 200000
to tds received 100000
to final assessment tax 50000

while prepairing the quarterly retun for 26Q a validation errer is coming and cannot create the fvu file. The Challan details are NIL.The message is T-FV-1029 Invalid Challan Input file.

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