Suppose my capital is 50 lacs
Income tax provision in books is 10 lacs
This is now not needed
So we will pass entry
Prov for tax Dr
To Capital/P&L A/c
this should increase capital not decrease it
Written on Nov. 8, 2017, 5:03 p.m.
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Namaste sir...plz guide me in this query. In Balance sheet of 31 Mar,2
Davneet Singh
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