Managing Director personal income tax is company exp ? in
which a/c ledger we should debit MD income tax amount ?
Property tax is exp. or liabilities ?
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Answer / mohsin1133
Managing Director Personal Income Tax Is not company Exp.
it will be debited in Capital a/c of Director.
Property tax is liability untill it is not paid & treated
Exp when paid.
| Is This Answer Correct ? | 12 Yes | 0 No |
Answer / mahesh
This is not company expeses. It sould be posted to
directory remuneeraion account. it is expenses.
| Is This Answer Correct ? | 10 Yes | 0 No |
Answer / bharathi
MANAGING DIRECTOR INCOME TAX IS NOT COMPANY EXPENSE. THE AMOUNT OF TAX TO BE DEDUCTED FROM HIS REMUNERATION UNDER SEC 192 B (TDS ON SALARY OTHER THAN GOVT. EMPLOYEES). PROPERTY TAX OF THE COMPANY TO BE TREATED AS EXPENSES IF THE TAX IS PAID ALREADY. IF IT IS DUE IT SHOULD BE ACCOUNTED IN EXPENSES AND THE SAME WILL REFLECT IN OUTSTANDING EXPENSES IN LIABILITY COLOUMN
| Is This Answer Correct ? | 1 Yes | 0 No |
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