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WHAT IS THE AMOUNT LIABLE TO THE DEDUCTION OF ESIC?
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Answer Posted / rajesh kumar yadav
EMPLOYEE WHOSE SALARY IS 10000/- PM. IS LIABLE TO DEDUCT
THE ESIC
| Is This Answer Correct ? | 14 Yes | 13 No |
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In the Balance sheet of a company you see the following details, Liabilities: Provision for tax - AY 2008-09 RS 200000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 Assets: Advance Tax- AY 2008-09 RS 150000 AY 2009-10 RS 300000 AY 2010-11 RS 200000 On 15-03-2011, the assessment order for AY2008-09 was received and the final tax liability was stated to be RS 250000. Pass the journal entry for the closing of the relevant accounts in the books for the AY 2008-09.
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