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when income tax paid is given inside trial balance Then we should deduct from drawings know sir?
Answers (8)
Thread Starter
siva chaitanyaMam, can you explain
Any other information given on income tax paid under additional information
Thread Starter
siva chaitanyaCan 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
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