Please Help: provision for income tax
Posted Date : 11-Oct-2011 , 10:44:25 pm | Posted By: R.K.Saini
Category :
Accounts | Answers :
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dear all please solve my query, in account entry how we calculate the amount of provision for income tax for current fin.year |
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Answers:
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 Answer by: Ketan Samdani |
| Provision for tax needs to caluculated as per income tax applicable provisions.
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| Comments |
| Posted By : Shivashish Karnani |
21-Nov-2011, 05:51:51 |
| right..... 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
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| Posted By : JEET REWRI |
09-Nov-2011, 05:31:12 |
| simply as per tax rate applicable for the financial year |
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| Posted By : CA Amit Bajaj |
15-Oct-2011, 03:39:10 |
| Dear Mr Saini,
Calculate provision on the basis of monthly profit shown as per books of account. |
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