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when income tax paid is given inside trial balance Then we should deduct from drawings know sir?

siva chaitanya

CA Final

★ 13K+

23-Jul-21 09:23

670

Answers (8)

Which income tax are you referring to ?

Sudha Reddy

CA Final

★ 20K+

23-Jul-21 09:31

Please see this question mam

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siva chaitanya

CA Final

★ 13K+

23-Jul-21 09:52

Mam, can you explain

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siva chaitanya

CA Final

★ 13K+

23-Jul-21 10:01

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siva chaitanya

Mam, can you explain

Any other information given on income tax paid under additional information

Sudha Reddy

CA Final

★ 20K+

23-Jul-21 10:28

No mam

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siva chaitanya

CA Final

★ 13K+

23-Jul-21 10:55

Mam, these are the adjustments

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siva chaitanya

CA Final

★ 13K+

23-Jul-21 10:57

Can you please explain mam

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siva chaitanya

CA Final

★ 13K+

23-Jul-21 10:57

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siva chaitanya

Can you please explain mam

It will be deducted from capital in the balance sheet. It will be treated similar to drawings as income tax in case of propreitor is personal liability

Sahibdeep Singh

CA Inter

★ 14K+

24-Jul-21 08:26