i paid income tax (FY 2016-17) on 31 Oct. 2017 of ₹50000.
what i do entry in telly for that payment in FY 2016-17 f 2017-18
please guide
i have no any payment of advance tax
Answers!
Provision for tax is under provisions
Income tax exp is indirect exp
Comment
Entry on 31 March 2017 (FY 2016-17)
Income Tax Exp Dr
To Provision for Tax
Entry for Paying Tax in 2017-18
Prov for Tax Dr
To Bank
Learn more here
https://www.teachoo.com/5110/1314/Provision-For-Income-Tax/category/Provision-for-Tax/#
Answer the question...
Provision for tax is under provisions
Income tax exp is indirect exp
Comment
Entry on 31 March 2017 (FY 2016-17)
Income Tax Exp Dr
To Provision for Tax
Entry for Paying Tax in 2017-18
Prov for Tax Dr
To Bank
Learn more here
https://www.teachoo.com/5110/1314/Provision-For-Income-Tax/category/Provision-for-Tax/#