which type of account is income tax is it a personal,real
or nominal or what?
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Answer / jaganvizag
Nominal account. because the expenses for the company is
comes in Nominal account.
If provision for Income tax then it comes in liability
|Is This Answer Correct ?||26 Yes||5 No|
Answer / cma aziz chishti
Income tax being personal liability is not business related expense. On contrast it is expense for the sole trader on profits earned from business.hence personal
|Is This Answer Correct ?||3 Yes||0 No|
Answer / tooba syed
It is nominal if the it is an expense of the business
And personal if it's not from business point of view
|Is This Answer Correct ?||5 Yes||3 No|
Answer / amey
|Is This Answer Correct ?||0 Yes||0 No|
Answer / jagadish
|Is This Answer Correct ?||7 Yes||12 No|
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