In case of a proprietor deducted from capital balance.

Suraj Lakhotia

Admin

15-Dec-20 20:05

Why sir

Reetikaa R

CA Foundation

★ 4K+

17-Dec-20 21:17

And in case other firms ,where will be recorded

Reetikaa R

CA Foundation

★ 4K+

17-Dec-20 21:18

FIrm tax - Debited to P&L Individual Insurance premium - Respective partners.

Suraj Lakhotia

Admin

18-Dec-20 07:26

I didn't understand sir

Reetikaa R

CA Foundation

★ 4K+

25-Dec-20 12:40

Which part?

Suraj Lakhotia

Admin

25-Dec-20 19:42

Both life insurance and income tax sir

Reetikaa R

CA Foundation

★ 4K+

25-Dec-20 21:01

If they are of the proprietor, they would be adjusted against capital account.

Suraj Lakhotia

Admin

26-Dec-20 06:55

Why not shown in p&l account sir

Reetikaa R

CA Foundation

★ 4K+

26-Dec-20 12:05

Its personal expense.

Suraj Lakhotia

Admin

26-Dec-20 16:28

In case of partnership firm ,where will income tax be shown sir

Reetikaa R

CA Foundation

★ 4K+

26-Dec-20 16:32

What is Flrm tax sir

Reetikaa R

CA Foundation

★ 4K+

26-Dec-20 16:33

Income tax paid by Firm. It will be shown in P&L

Suraj Lakhotia

Admin

26-Dec-20 17:28