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If Advance deposited Rs.200000/-, TDS diposited Rs.100000/-
& Provision for Income Tax is Rs.250000/- but It department
raise the Assessment Tax is Rs.350000/-. What will be the
journal entries?
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Answer Posted / pawan chavhan
provision for income tax DR 250000
Income tax for earlier year DR 100000
INCOME TAX PAYABLE CR 50000
TDS RECEIBABLE CR 100000
ADVANCE TAX CR 200000
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