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
(Personal account)
| Is This Answer Correct ? | 29 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 ? | 5 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 ? | 6 Yes | 4 No |
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