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If Advance deposited Rs.200000/-, TDS diposited Rs.100000/-
& Provision for Income Tax is Rs.250000/- but It department
raise the Assessment Tax is Rs.350000/-. What will be the
journal entries?
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Answer Posted / s.balakrishnan
Dr Assessment tax 100000
Cr Provision for IT 100000
Dr Advance tax 50000
Cr Tax payable acct 50000
Dr Provision for IT 350000
Cr Advance tax 250000
Cr TDS receivable 100000
| Is This Answer Correct ? | 5 Yes | 7 No |
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