Please Help: provision for income tax
Posted Date : 11-Oct-2011 , 10:44:25 pm | Posted By R.K.Saini
dear all please solve my query, in account entry how we calculate the amount of provision for income tax for current fin.year
Category : Accounts | Answers : 1 | Comments : 3 | Hits : 511
Answers
Answer By: Ketan Samdani
Provision for tax needs to caluculated as per income tax applicable provisions.
Comments
CA Amit Bajaj
15-Oct-2011 , 03:39:10 pmDear Mr Saini, Calculate provision on the basis of monthly profit shown as per books of account.
JEET REWRI
09-Nov-2011 , 05:31:12 pmsimply as per tax rate applicable for the financial year
shivashish karnani
21-Nov-2011 , 05:51:51 pmright..... it will be not made on actual basis...that is one of the reason why it is called provision..because actual amt is not known... i.e with the help of profit and tax rate applicable