web analytics

Suppose Company made Rs 30000 provision for tax on 31 March

it paid the same on 30 Sept by paying challan online

Pass Entry

-a-

Entry for Provision for Tax

31st March

Tax exp Dr.    30000        

To Provision for Tax  30000

 

Entry for Paying Balance Tax

30 September 

Provision for Tax Dr.   30000        

To Bank    30000

-ea-

Suppose Company made Ra 30000 provision for tax on 31 march

Company adjusted 10000 TDS Receivable.it paid 20000 on 30 sept by paying challan online

Pass Entry

View Answer

Suppose Company made Ra 30000 provision for tax on 31 march

Company adjusted 30000 TDS Receivable.it did not pay anything

Pass Entry

View Answer

Suppose Company made Ra 30000 provision for tax on 31 march

Company adjusted 32000 TDS Receivable.it did not pay anything and got 2000 income tax refund after one month

Pass Entry

View Answer

Suppose company suffered a lose and hence did not make any provison

Company had 32000 TDS Receivable.it did not pay anything and got 32000 income tax refund after one month

Pass Entry

View Answer
  1. Accounts and Finance
  2. Step 3 Passing Book Closure Entries
Ask Download

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides courses for Practical Accounts, Taxation and Efiling at teachoo.com .
Jail