Interview Questions Answers in Taxation

sathish

{ City } hyderabad
< Country > india
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Question { 15227 }

wats the journal entry for payament of Company's Income Tax &
under what head does income tax comes in TAlly

Answer

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