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Should we take the taxes in to P& L A/c.

Answer Posted / shiva

taxes paid should be shown in the P & L a/c. and Provisions
also should be shown in the debit side of the Profit & Loss
a/c. at the same time these provisions should be effect on
the Laibility side of the Balance Sheets. Income Tax and
and Other Taxes might be shown when you prepared Profit &
Loss Appropriation A/c.

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