Answer Posted / arun chauhan

For creating the provision of current year
i)Current Tax A/C Dr
To Provision for Income tax A/c
ii) Advance Income tax A/C Dr
To Bank A/C
Next year adjustment of Previous yr(because income is assessed in next yr)
a)If advance income tax paid is less than the tax liability
i)Advance income tax A/c Dr
To Provision for Income tax A/C
To Income Tax Payable A/C

ii)Income tax payable A/C
To Bank A/C
a)If advance income tax paid is more than the tax liability
i) Advance income tax A/C Dr
Income tax refundable A/C Dr
To Provision for Income tax A/C

ii)Bank A/C Dr
To Income Tax refundable A/C

IN VAT INVOICES DISCOUNT ALLOWED OR NOT

2153

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Tell us what is your proudest accomplishment?

1212

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Explain what is the disadvantage of double entry system?

1131

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What would greater impact a firms valuation, a 10% reduction in revenues or 1% reduction in discount rate?

8341

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HOW WE MAKE A RESERVE AND AFTER ITS USE HOW WE NIL IT PLEASE MAKE A PROPER ENTRY.

2094

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What does the financial statement of the company include?

1173

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Can you differentiate public and private accounting?

1362

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how do made in finalization

2142

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Sir how the enter of GST adjust of sales return

1757

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What is accrual accounting?

1335

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What is the basic accounting equation?

1104

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what is the basic difference between pooling of interest method and purchase method in amalgamation

3754

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When we received payment from creditors

1696

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HP EMPLOYYES - If any one in HP company, Please give refernce for attend the Accounting Job in chennai,Bpo- chetpet.If any one Worked there Please,Send mail to me Umaiyo@gmail.com.I have 1 year exp in banking sector, & 8 months exp in accounting in SIEMENS, at present I'm searching for a job.If any person see this mail,Kindly send mail to me. Thank U Friend.

2087

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can any one send me tally professional version link

1693

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