Answer / pradeep

income tax a/c dr 23000
to provision for taxation 23000

advance tax a/c dr 20000
to income tax a/c 20000

P/L a/c dr 20000
to advance tax a/c 20000

income tax a/c dr 20000
to cash/bank a/c 20000

balance amount will remain left in provision for taxation a/c:

Income tax a/c dr 3000
to provision for taxation a/c 3000

Answer / krishna

previous year there is a balance in provision for income tax
a/c Rs.23000,we need to carry forward that one and you need to
do the following process:
first add current year provision amount,
next less whatever you paid as an advance
and the balance you need to carry forward i.e.Rs.3000
(23000+0-20000)

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