How to book Provision for Income Tax | Income Tax Adjustment Entry | Account Finalization
ฝัง
- เผยแพร่เมื่อ 3 ต.ค. 2024
- In this session we have discuss important part of account finalization i.e. Booking provision of income tax and its complete adjustment.
Provision for income tax is is below the line entry. After adjusting necessary items from gross profit, (e.g. depreciation booked in books of accounts and depreciation allowable as per income tax rules) taxable income arrives. On that taxable profit we have to make provision for income tax at prevailing rate of income tax.
Advance Tax need to pay by the taxpayer according to sec 208 of income tax act. In this session we have covered all accounting aspects of taxation including advance tax, self assessment tax & TDS receivable.
Notes are part of paid course
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Kindly, explain Tax Expenses, Deferred Tax, Current Tax Calculation and Presentation as per Latest "Guidance Note on Financial Statement for Non Corporate Entities"
I also vouch for this comment
Respected sir,good information and explanation but you should add one more things interest 234A and 234b interest 234 C should show under finance expenses and same disallowed under income tax return.
THANKS A LOT FOR CRYSTAL CLEAR EXPLANATION OF PROVISION FOR TAXATION SRI GURU CHARANAM SHARANAM MAHMA
Sir please make a detailed video of deferred tax journal entries of subsequent years and its adjustment and provision of tax entries
Lovely, excellent, Master class, classic. Love you sirji ❤
Thank you sir for this information ❤ its very useful
very nice explain sir
16:47 nicely very useful video
Thanks a lot Sir
Good level ke. Video fintax pro
Please upload lecture on how to prepare cash flow statement in financial ❤
Sir please make a video on Tax expense, Deferred Tax Asset/Liability & its entries in tally.
Nice explanation
Hello sir,
Please share some video on HUF return filing,
Only income from other sources, mainly interest income.
87A rebate. And any other deductions.
Please discuss on deffered tax
Thank you sir legend sir ji
explain % also of advance tax
I have made a seperate video on Advance tax please refer that
Refund for 23-24 dr jo ledger hai wo kis ke under hoga?
Current assets?
How calculate of advance tax ?
What will be the provision entry when the actual tax is less then the provision created
Reduce the provision first through PnL then do adjustment entry.
Just opposite of 1st case
Hello sir... Individual/proprietorship ke case mein provision entry karna padega ya nahi....
please explan how to calaucation provision of income tax ????
Under sub head air bta diye comment mein of these ledger
Nice sir
Sir provision for income tax ki entry proprietor ke case mein nhi karte hai kya
Dear sir, ek question hai, office m ek client hai jiski february month m ₹44312 GSTR-1 m jyada dikha diya tha. Lekin jab amedment kiya hoga to amount amendment nhi kiya tha march ke gstr-1 m. to ab . May month m kaise thik kru
Please bta dijiye
FY23-24 ke liye september 2024 tak amendment kar sakte hai
TDS will go to the receivable group
Sir old tax regime mein jane ke liye form 10ie 31 july tak file kar de uske baad yadi aug sep mein income tax return bharte hain to old tax regime mein return bhar sakte hai..
Sir Provision Book karlie the ab mujhe Interest k sath payment karna hai jo ki karlie extra jo payment aya interest ka usko profit and loss mein debit karlia but Balance sheet mein kaise dikhana hai matlb ki FACE of BS and PL mein kaise report hoga old AY and new AY
Commission income
194H Me TDS Kata hai
800,000 Amounts ke upar 5% TDS Kata hai
ITR 3 me Kitna tak ka Expenses Bata Sakte Hai limit
Nice
Tds receivable books me less se form 26AS se to kya adjustment entry kre
Sir aesi GST ki bhi Banado
B sheet me
GST final ledger adjust with payabl e
Final JV ka bhai
Pls sir
Bhai study visa ley ITR kesa file karta hai. Agriculture income hai please eus par video bana ji.
Aap kaha se ho? Place?
Hum itr file krte he aise case me
Namaskar sir
Sir agar mene business april 2024 m suru kiya and gst number may 2024 m liya regular. To april ko sale ka kya krna hoga? Becauze us time toere pass gst nai tha.
Sir I Have applied for cancelation of gst. Now Can I revoke my gst number anyway after canceling with self application
Hello Sir, Income Tax Paid not allowable in Income Tax. So, we use 'Capital A/c' group for Advance Tax, TDS and SA Tax by which it reflected on Debit side of Capital A/c. You have taken 'Current Account' Group for Advance Tax, Is this Corporate style of Accounting ? Because we mostly do small traders accounting so we take 'Capital Account' group.
Income tax is just like an normal expense from accounting point of views.
small trader k case m books to ITR se match karne k liye capital account se adjust karwate hai (ispe bhi video banate h)
You Can Take Advance Tax, TDS, And SA under Loan and Advance and 31 March pass the entry Dr. Capital accunt Credit advance tax, tds, etc
Ye video apke staff k liye hai 😊
सर एक काम ये भी कर सकते है न -
जैसे कैपिटल 50 लाख हैं और इनकम 16 लाख हैं जिसपर इनकमटैक्स 4 लाख बन रहा हैं तो पहले 16 लाख इनकम को कैपिटल में add कर देंगे 31 मार्च को तब कैपिटल 66 लाख हो जाएगा फिर जब इनकमटैक्स का पेमेंट करेंगे तब पेमेंट के अमाउंट को कैपिटल से less कर देंगे तब कैपिटल 62 लाख हो जाएगा
Sir namaste
Hmne ek 5 lakh fd banai or wo 1 year m kafi bar close or open ki ab total ammount 3300000 pahunch gya and ab message recieve hua h e campaign ka usme hme jo question answer diye hain ammount recived and paid wala wo yes krna h ya no please help
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Income tax dr
To provision for tax cr.
Ye entry hota h provision ka..main to ye janta hu .P/L ko dr.karke kiyu kiye...samjhaiye.samajh nehi Confusion dur kijiye
are wahi baat hui bhai. ye bhi sahi h tension not
@@fintaxprop5542 bol rahe hai income tax ka under kya hoga.. indirect expenses ya kuch aur.
And jab it department provision for tax ko p/l mein disallowed karega tab to net profit bhi change hoga!!
Tab kase calculation hoga.bataiye..
@@tanmoyacharya5934 Simple aap Capital account ko Dr . Kardo aur Provision for Income tax credit kardo