Income Tax Provision Entry | Advance Tax Payment Entry by The Accounts

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Our course is the most comprehensive and up-to-date training program available on GST, ITR & TDS. It is suitable for anyone who wants to gain a deeper understanding of these important taxation concepts, regardless of their background or experience.
The course covers a wide range of topics, including:
The basics of GST, including registration, classification of goods and services, invoicing, and returns filing
1. The different types of ITRs and how to file them accurately
2. The different types of TDS and how to deduct and remit them correctly
3. The different types of TCS and how to collect and remit them correctly
4. Complete salary processing
5. The latest updates and changes to the tax laws
In addition to the theoretical knowledge, the course also provides hands-on training on GST return filing and TDS computation. This helps learners to gain the practical skills they need to comply with the tax laws.
Here are just some of the benefits of taking our course:
1. A deeper understanding of the taxation system in India
2. The ability to file GST, TDS, TCS returns and Income Tax correctly
3. Compliance with the latest tax laws
4. Increased confidence in handling tax-related matters
5. Improved career opportunities in the taxation field
No matter what your background or experience, our Taxation Mastery Course can help you to improve your knowledge and skills in the taxation field. So what are you waiting for?
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[@kaleemafzal434]

Sir aapse Acha koi nhii samjhata KZbin par clearly smjhate hai aap sir bhut helpful Hoti hai aapki vedios sir thanks sir

[@dilipmaurya4594]

I was confused in Income tax provisions from 2 years but you explained in this video, I am very confident now........thank you so much sir😊😊😊

[@vishnukumar3831]

Sir aap ki video se bahut sikhane ko milta h sir aap esse hi knolegable videos bnate rhe apki video bahut hi knowledge wali hoti h and very very thanks sir itna kuch fone per hi sikhane ke liye

[@mohammadsaqib5898]

Really appreciate ur effort to make us knowledgeable in this field . Thanks for all . Allah bless u

[@vishnupareek630]

Your explaining way is very simple and effective.....pls upload more videos about final accounting ..

[@gouravkumar5769]

Great video sir aapki video dekhkar confidence aata hai

[@sujeetkumarsharma8989]

Sir Maine aapka bahut video dekha. Seriously agar koi tally fresher wall videos dekha le to senior accountant jarur ban jayega.. Mujhe vi ek aisi hi channel ki talas thi. Jo mujhe mil gaya. Thank u very much. Aur ha sir sath sath. Jo vi update hota hai. Tds me. Gst me. Pf me esi me.. In sabhi ko update karte rahe.. Philhal aapse ek request hai ki. Pf me jo naya update huaa hai. Espe ek video banaye. Once again thank u sir 🙏💕

[@raghavkabra2747]

Thank you sarkar

[@sunilkrjaiswal2712]

Yes sir ...want to know about modern approach

[@TheAccounts]

Video already uploaded h u can watch that video

[@unglieaditz8599]

Bilkul sir modern approach ke baare mein video bnaye

[@venkata3116]

Great sir aapka teaching very easy to catching jee...Wonderful sir🙏

[@shaanaasif5631]

अरे sir...आप कमाल हैं...!!!

[@vikiriti7344]

Jbarjast theching safi sir

[@maumatkar1772]

Sir ji good teaching provisional entry thanks

[@abhishekbharatkumarshah3537]

So,please make video about modern approach and how to do tds,gst,I.t return file in company

[@garywhite9677]

For GsT tds income tax return filing services Sab sikhata hun me whatsapp no [phone]

[@kesharsarde6304]

Sir thank you very much for most valuable & knowledgeable video

[@saritapatel3951]

Veryyy nice sir and please ek vedio morden approach par bhi baniye

[@mgs2abhishek]

It was too good👍

[@smitshah415]

In case of company, instead of using capital account of director we need to use liability for taxation account. It is as per new format of company act 2013.

[@akmanwarulkabir8729]

Many thanks. Just to add a few things, although I m not aware of Indian CA Institutes status of IFRS and IAS adoption, in our country, we create provision for tax in the Statement of Comprehensive Income (P/L Account) by giving a Journal entry: Provision for Tax (P/L Item) Dr. and Reserve for Tax (Balance Sheet Item)Cr. This provision is created on the basis of the Taxable Income (Calculated in compliance with Income Tax Ordinance).While paying Advance Tax, we pass the following entry: Advance Tax Dr. Bank Cr. After Assessment (hypothetically if advance and assessment are same) , we just square off the Advance with Reserve for Tax. If the assessment falls short of Advance or more than Advance, we treat the balance amount as prior years adjustment which affects the Equity block. We don;t increase or decrease Capital which can not be done except some exceptional situation. If no provision is done, then adjusting entry after assessment has to go through Prior Yrs Adjustment as per IAS. This will certainly affect the Equity Block in the Balance Sheet. Thanks and Regards, Anwarul Kabir FCA, from Bangladesh

[@topperstopclasses1145]

Safi sir you are the great Magnificent teaching mehod👍

[@swapnilpawar3537]

Please make video on modern approach

[@TheAccounts]

Very soon

[@vinaydadhich]

Nice video Sir. Aae din gst me notification aate hai. Aap use bhi btaya kro. Kyo ki aap bhut ache se smjate ho.

[@sureshlad5908]

Nice explanation sir.

[@sashikantasahu4058]

Many many thanks sir . Long live sir . Excellent explanation

[@vikashjaiswal347]

thank you so much for such a amazing informative video. but sir ye batana ki in case of companies capital account ki jgh kis account ko debit karenge. Waiting 4 y reply

[@kamaln8270]

Sir, what if tax liability is 20k, advance tax is 12k, tds deducted is 5k then will the tax provisions to br made is 3k? And wt will the entry???

[@Optimistic2296]

Very nice video sir. Yes, hum log modern approach ke bare me janna chahte hain. Aur sir, Jo GST ke ander changes aaye hain jaisa ke RET-1, RET-2 and RET -3 usper bhi video banaye sir. And ANX-1 & ANX-2 Per bhi. Thank us sir.

[@ramanand4963]

one video ON SALARY TDS

[@deepakdolas1949]

Sir ek question tha ki J.V. kab marte he , or baki voucher receipt & payment kab entry karte he pls suggest

[@gouravkumar5769]

Sir 2 Bills par ek hi check se payment kar sakte hai kya agar woh ek hi company ke ho

[@TheAccounts]

Yes

[@gouravkumar5769]

@@TheAccounts Thanks sir

[@dollyshah5973]

Great..thnx sir ❤️

[@manojgupta3632]

Sir financial year m advance tax pay kya but itr file time income tax jada pay kya tha bo refund show ho rha h tally m entry kese kare next year m.

[@RS-sk6iv]

What is the accounting treatment for, if in the case of Individual not a company, amount of TDS deducted and Advance Tax paid exceeds the actual tax Income tax Liability. 1) Is there need to make provision for the Income Tax? If yes then what will be the Journal entries? 2) Is there not any need to make provision for the Income Tax? If No then what will be the journal entries? 3) When they have to be passed either at the end of the financial year or at the time of submission of ITR?

[@mohdiqbalkhan393]

Thankyou sir for this video

[@hemabenjadav8809]

Very very useful video 🙏🙏🙏🙏

[@GrivitJewellery]

Yes, Sir U should make video on modern Approch.

[@arcnomic]

Nice vedio sir... Sir but mera ek question hai 18-19 k liye hamne advance tax ki entry book kr li lekin fhir usi fin yr k liye provision kese book kr skte hai... Q k advance tax pay kr ke hmne to book us particular yr k liye close kr di hogi...? Please thoda aur detail me bataenge sir...?Agar calculation aur example k saath vedio banaye to aur clarity aegi..

[@kalpanajamdade8186]

Pl. Sir make vedio Cash sale ,credit sale

[@shivshankarprajapati1484]

Advance tax , self assessment tax aur gst payable in balance sheet pr please vedio bnaye sir

[@mainaksengupta-ds3gq]

Sir agar kisi businessman jinko income tax dene ki koi jarurat nai ha, us businessman agar kisi ko koi service sale karta hai aur jin customerko woh businessman service sale karta hai unhona agar us businessman se koi TDS deduct karta hai toh phir woh toh us businessman ka Current Assets hoga, aab sawal mera yeh hai kya us businessman ko woh TDS jo unse deduct kiya geya woh kabhi refund mil sakta hai? Agar nehi toh phir woh kyu hota hai? Please tell me Sir.

[@collegenaama]

SAP per kab video ayegi bhai

[@kavitarawat4708]

Sir, please make video on modern approach., And thanks for this video

[@TheAccounts]

Video already uploaded h u can watch that video

[@grajnish]

Bhae Sahab aap proprietorship and partnership k Tax ki entries kr rahe ho. Na ki Company ka

[@ninja918]

Sir jo hum har month tax pay krte hai gst 3B kai jo bank k tax pay krte hai iski entry kaise hogi

[@deepakpatralekh6270]

Aapka bhut bhut dhnyad.

[@umeshmishra2010]

pls make sure one another video for provision of tax in view of modern approch.

[@avasim2911]

Thank you Sir.

[@vishnukumar3831]

Sir me modern approch nhi janta hu please aapp modern approch ki full video banaye thanks sir

[@TheAccounts]

Video already uploaded h u can watch that video

[@anilphulari185]

I have query that, I broke FD before maturity, and the interest which was supposed to be received is actually not received so can I make entry of that in tally?

[@AhteshamRulani]

Good very helpful video Sir👌 agar koi form composition me kuch month Rahi fir regular me aa gayi tho uski accounting kaise kare..? Mains uska ITC n purchase kaise set off kare plz help sir

[@TheAccounts]

I will make a video on that

[@AhteshamRulani]

@@TheAccounts thank you so much sir😊

[@RRK537]

Hello Sir have a nice day

[@akashhela8521]

Modern approach.

[@vishal7269]

What in case if less tax than advance tax paid ? Balance transfer to p&l ?

[@swapanmukherjee1219]

Sir, adjust advanced tax on capital goods ka entry tally me kaise hoga .

[@Comply_990]

Hi Pls tell me where to transfer in private limited company

[@bhavikdhingra2746]

Sir you are brilliant !!!

[@patilakshay4137]

Ye hairstyle aap pe accha lagta hai

[@bharat4891]

Sir make vedio on advance tax calculation..

[@sail944]

Company m b kya capital account debit hota hai

[@prajaktajadhav6265]

we paid advance tax 9lakh, provision for tax 18lakh, what will be the entry for 9 lakh advance

[@sourav7990]

Thanks sir

[@shashikantvakte8988]

Sirji tussi Great ho

[@susmitgawade6760]

Hi sir Agar co. Balance sheet banani hai yo provision for interest on income tax (section 234 wale)ka calculate kaise kare Kyoki balance sheet final hogi in sep in annual general meeting but income tax return file hoga uske bad me. To balance sheet me kya entry ayegi

[@supriyasharma5121]

Modern approach k bare me video bnao sir

[@TheAccounts]

Very soon

[@gouravkumar5769]

Sir plz Bill pay method ke bare mai bataiye

[@sahusurendra6943]

Sir plz make a video about modern approach.

[@TheAccounts]

Video already uploaded h u can watch that Video

[@beHappy-yf2wo]

hii sir, can you explain deferred tax in tally?

[@arnabbanerjee9692]

Thanks for this vdo

[@malcolmrodgers295]

Thank you so much sir . god bless u

[@skasrafulhaque3080]

Very good sir

[@sandeepsinghp8760]

Sir Gst Payment Ki Entry Kaise Karte H Is Pr bhi Video Banaye

[@rajeshrawat761]

Sir, TDS recivable ko kaise adjust karna he...

[@shree_9175]

Very nice sir 👌

[@sandhyayadav4616]

so informative

[@caaman93]

Good work

[@sohanKumar-fq4rt]

Sir agar 31 march ko advance tax jame karte h to kay provisional ki ho ya nahi

[@srinivasavanchi3414]

Sir, please upload how file gst return ourselves without CA

[@navneeshkumar9256]

Nice video sir please make video on deferred tax

[@himalchand1662]

Thank you so much sir ji 🙏

[@mohdasifrangrez1810]

Yes sir modern approach par video bnaiye

[@helpinghand3159]

Dear Sir can you provide defeered tax chapter or any class of your lecture

[@rajadey1552]

Sir company ki. Case mai entry kyaa hoga

[@Abduraraquibkhan]

I learnt something new.

[@ramanand4963]

sir how to prepare and read computation chart

[@jawharmondal7117]

Sir how to calculate advance tax? Kindly make a vdo on this subject.....god bless u.....

[@mohinshaikh9769]

Agar tax paid kiya hai tds receivable k against to entry kaise karenge

[@kbashutoshverma1018]

Modern approach

[@Lawineasylanguage]

Nice Computation kaisa bnta hai income tax ka Es par video bnaye

[@vivekkumarmishra6955]

Thank U very much sir

[@snehojitpandit3599]

Good analysis ❤️

[@navneeshkumar9256]

Thanks sir for information

[@nexbelt173]

Sir advance Tally aur Excel Mein GST adjustment payable nikale online classes

[@splayschool1058]

Sir moden approach ke bare ek complite video banaye

[@manishsingh9687]

1000वा लाईक हमारी तरफ से TDS calculate form 16 pe video banaiye

[@ankitpande5535]

What is the provision entry in the case of llp

[@gatikpatel1838]

Sir mere exam aane wala hai accountant ka job ke liye so sir aayse videos banayi na job ke liye kaam hai. Specially receipt accountant, expenditure Accountant

[@krishnendupramanik5051]

Awasome sir

[@shaileshkulaye4503]

Sir we are not taken provision tax tax entry in March so is it necessary make provision tax entry? Pls reply

[@akshayshah7472]

Thanks sir