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Q. > Please Help: Accounts
Tax is Expenses or not, if not then why do we show it in debit side of P/L A/C
answered Mar 06, 2012 by Ketan Samdani , V V Nagar
Tax is an expenditure which is charged on accrual basis as per provisions of AS 22.
answered Aug 17, 2012 by Rambabu Senkarasetti , Guntur
Yes it is an expense, and shown in P&l
answered Aug 17, 2012 by Rambabu Senkarasetti , Guntur
Yes it is an expense, and shown in P&l
answered Aug 17, 2012 by Rambabu Senkarasetti , Guntur
answered May 20, 2013 by Vikash Kumar Jha , Cuttack
Tax is arise on the profit as per income tax act and we need profit after tax paid thats why we are showing as debit side of profit and loss A/c.
Experts Panelist
Comments
zeba
25-Jun-2011 , 09:47:06 amyes, it is an expense.it is an operating expense as business can not be run sucessfully if tax is not paid.hence should be shown in P&L.
Niraj Kumar Sharma
29-Jun-2011 , 03:50:30 am