Query

In case of a proprietor deducted from capital balance.

Suraj Lakhotia

Admin

15-Dec-20

Why sir

Thread Starter

Reetikaa R

CA Foundation

★ 5K+

17-Dec-20

And in case other firms ,where will be recorded

Thread Starter

Reetikaa R

CA Foundation

★ 5K+

17-Dec-20

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

Suraj Lakhotia

Admin

18-Dec-20

I didn't understand sir

Thread Starter

Reetikaa R

CA Foundation

★ 5K+

25-Dec-20

Which part?

Suraj Lakhotia

Admin

25-Dec-20

Both life insurance and income tax sir

Thread Starter

Reetikaa R

CA Foundation

★ 5K+

25-Dec-20

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

Suraj Lakhotia

Admin

26-Dec-20

Why not shown in p&l account sir

Thread Starter

Reetikaa R

CA Foundation

★ 5K+

26-Dec-20

Its personal expense.

Suraj Lakhotia

Admin

26-Dec-20

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

Thread Starter

Reetikaa R

CA Foundation

★ 5K+

26-Dec-20

What is Flrm tax sir

Thread Starter

Reetikaa R

CA Foundation

★ 5K+

26-Dec-20

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

Suraj Lakhotia

Admin

26-Dec-20