if Advance Tax is diposited by u Rs.200000/-
TDS Deposited Rs.100000/-
Assesment tax raised by It depart ment Rs.350000/-
What will be the Journal entries?

Answer Posted / 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)

Is This Answer Correct ?    9 Yes 2 No



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