wats the journal entry for payament of Company's Income Tax &
under what head does income tax comes in TAlly
Answers were Sorted based on User's Feedback
first create the income tax ledger under group as indirect expenses.
the journal entry is...
Debit: incometax xxxxxx
credit: cash/bank
in payment voucher
Is This Answer Correct ? | 9 Yes | 3 No |
Advance Tax A/c Dr.
to Bank/cash
(Being Advance tax deposit 1/2/3 or final Installment)
if TDS Deposit
TDS on Professional fees/contract/Salary Dr.
to Bank/cash
(Being TDS deposit for the month of........)
Is This Answer Correct ? | 4 Yes | 0 No |
What is MAt
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