Treatment of Provision for Tax | Income Tax Paid | Cash Flow Statement

In this video, I am going to discuss the adjustment of provision for tax in the chapter of cash flow statement for class 12 students. This video will help you understand the process of adjusting the provision for tax in the cash flow statement.
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[@AkashKumar-jr8qp]

🙏🙏🙏🙏 This is the actual and amazing power of a CHARTERED ACCOUNTANT to make accounts super easy.

[@missfactiangirl4155]

Sirrr seriously your explanation is super duper I understood all the points of this adjustment

[@zoya_creation2908]

Thank u sir its really helpful.

[@amaansaiyed5129]

very useful video for whole accounts cash flow statement

[@palak9075]

Became a benefactor for revision 👍🎗.. You are doing a great job sir. Keep going 😊👍

[@garimasahu3468]

Thank you so much sir for your beautiful explanation 🤗🎉

[@sipunpanda808]

Thank you sir for this clerificatio 🙏 I hope sir may your blessings will remain like this😊

[@HegdeSv]

always had confusion when it comes to treatment for provisions but its clear feeling really relived thank you for the simple explanation

[@suj_1857]

Sir, in Case 3, the adjustment given: 'Income Tax Provided' be written as 'Income Tax Expense'?

[@ThePreciousPintu]

Thanks sir ...for individual information.......

[@kushalpandit.61]

Really sir more helpful ❤️❤️❤️❤️❤️ 🤗🤗🤗 thankyou sir

[@bhimaja107]

Thanku sir. U helped me out of my dout related to provisin of tax

[@simranpundir8192]

Thank you so much sir 🙏🙏it is very helpful 😊

[@mohammadali-rp5ds]

Thank you so much for such a great teaching in simple language to understand

[@itsmusical-slowed_reverb]

Thank you sir for clearing our doubts.

[@anuragmishra1730]

Sir aap ek no. Padhate ho

[@kishanbishwakarma729]

Thank you so much sir this is very helpful

[@anirudhnarasimhan9785]

Excellent video. Very useful for those having doubts.

[@CMAVindujapchinjus]

Thank you so much sir❤clear and perfect ly explained😊

[@Pebblescribbler]

Profit taken in cash flow is ready Profit before tax which means tax has not been deducted from that amount, then there's no point of adding it back to Profit before tax.

[@afifanasim]

in cash flow statement, there is a rare case when profit before tax is given. other wise, we have to compute it, in that we have to add provision

[@noname-ur2pu]

Es you are correct @pebblescribbler

[@infinite8739]

Very clearly explained thanks sir

[@varshabhagchandani20]

Sir in case 1 can't we just add the balance in net profit before tax It will still give the same answer

[@lovekushYadavDU]

Thank you so much sir mera doubt poori tarah clear ho gya You're a very nice teacher Sir aap kahan rehte ho ?😇

[@crackhack6763]

Thank You

[@sanaansari4621]

Thanku sir 🤗

[@shiv_anand_chaurasia]

6:30 sir here you said ki 1,25,000 wo amount hai Jo humne provision for tax create Kiya hai iss saal , lekin question mein jo 75,000 diya hai wahi hai na provision for tax for current year. Sir this creates contradiction? Please explain it .

[@shiv_anand_chaurasia]

Sir ye tax provided kya hai? Wahi mujhe nahi samajh aa raha.

[@CAKunalKumar]

@@shiv_anand_chaurasia Tax Provided means jo provision hum create karte hai...jo 75000 diya hai usse provision for tax ka closing balance bolenge..if possible watch this video again and note down everything properly with pen and paper as I am doing. Hope you will get the solution...

[@majorsingh275]

Thanks a lot

[@ritik094]

Thanks Sir 😊

[@GST_Reviews]

thank u sir

[@kArANsiNGh-od8es]

Thankq sir💥

[@illusion2005]

It helps me alot sir thankyou ❤️

[@kavitaverma4635]

Thank you for this separate video❤

[@Sahil-wd8um]

Ty sir

[@suyashwatve]

very helpful

[@wel_come]

Sir please make treatment for provision for doubtful debt

[@SM-bh9ct]

A lot of thanks 🙏🙏

[@CAKunalKumar]

Most welcome

[@kaifakram9062]

Thanks sir very useful

[@jobancheema1982]

Sir agr income tax refund bhi given ho uska kya treatment hoga..

[@ishaa1901]

Thank-you sir

[@bodybuilderzone4072]

Thanks buddy

[@vyshnavpradeep3713]

Thank you sir ❤️

[@wrf1108]

Dher sara love for you sir 🥰

[@amitsaroj2504]

Sir ledger provision for depreciation ka ledger me kaise treatment karenge

[@chiragdora7122]

Mza aagya sir thank u💯👏🏻

[@icai6354]

Sir aapne case 2 me 31-3-2021 ka ledger banaya tha to statement of profit and loss me 1,25,000 gya tha but question me 75,000 de rakha hai provision for tax

[@ChotuShaa558]

Agar sir provision for tax ki information ho per opening Aur closing nhi ho to Income tax ka treatment Kya hoga

[@nishantkautkar7325]

Bal fig is provision created hai to closing provision kya hai , hum to provision last me creat krte hai na to closing provision hi is year ka provision created hona chaiye to bal fig phir se provision created kaise hua , in nutshell I didn't not understand the difference between closing provison and provision created during the year

[@NeerajKumar-jd2bp]

Agar que me sirf tax paid dia ho to whi tax paid or tax made dono mana hai kya?

[@ShubhamKumar-qb4pd]

Thank you so ji❤❤❤❤ aapka

[@navneetkaur3337]

Sir if only income tax paid is given then?? And when there is refund of tax also given

[@saifsidd2891]

Sir how to do treatment of Tax refund adjustment?

[@surbhisharma8674]

Agr adjustment me tax paid de rkha h sirf to use operating activities se minus krenge na sirf?..meri book me use profit and loss account me add bhi kiya hua h ...is this right?

[@CAKunalKumar]

They are assuming that amount of tax paid is equal to Provision for tax created during the year... Isliye add kiya hua h..

[@surbhisharma8674]

@@CAKunalKumar should I need to do the same in exam?..or i can just deduct it from operating activities?

[@sudhirchoudhary9768]

If only one year balance given then which assume paid or made

[@chanchalpandey585]

If only tax paid is given additional information and no information in balance sheet. Then what is the treatment ?

[@vipinprajapati39]

Very helpful thanks sir ❤❤

[@fakeacc1199]

Provision for tax and advance tax both opening and closing balances are given, then how do we calculate sir?

[@HarshRajabmn2004]

Tax is calculated on the basis of income/profit of the firm so there is no advances in tax .

[@DEADPOOL-jk9se]

Sir agar Additional point mei tax of 15000 was paid during the year likha ho ,and balance sheet aur notes to account mei kuch bhi given nhi ho phir treatment kya hoga..

[@purabnegi10-e21]

Terko pta chla kaise hota?

[@DEADPOOL-jk9se]

@@purabnegi10-e21 tax paid phle plus hoga uske baad last mai minus hoga

[@DEADPOOL-jk9se]

@@purabnegi10-e21 ha

[@DEADPOOL-jk9se]

@@purabnegi10-e21 phele plus hoga and last mai minus hoga

[@aashi._.i]

Thanks a lot sir 😭

[@sarikagarole3231]

Only give the adjustment tax paid when how to solve

[@sakshamtarawat7394]

💯💯

[@AnnapurnaTheArtofCooking]

Thanks sir. Pls explain illustration 61 of cash flow of TS grewal.

[@surajitroy5368]

Sir, what is the accounting treatment of Income tax appeal payment?

[@Motivational_and_love_thoughts]

Agr sirf income tax paid hi diya ho adjustment m phir kya hoga

[@RadhaKrishna-qq4rg]

Thank you so much sir

[@trustonme5527]

Half dout clear 😅 Profit and loss account me ess entry ko kaise treat kare?

[@HarshRajabmn2004]

Sir first case me mere pass opening balance of provision diya hai aur closing balance of provision diya hua hai aur kuch information nhi hai toh hum kaise man le ki jitana opening hai utana paid hua hai ? Case 1. Ka treatment hum provision ko liability man kar bhi toh kar sakte hai ? Plzz reply me ya answer me to clear my doubt

[@CAKunalKumar]

Jitna opening mein hai wahi pay kar diya humne this is best assumption otherwise agar company agar ek saal tak tax nhi karegi toh income tax department ka notice ayega... Interest lagega then penalty.... Liability assume karna is not good assumption.. Hope your doubt is clear now..

[@HarshRajabmn2004]

@@CAKunalKumar sir ye assumption app jo bataye hai wo assumption app kis basis par liye hai ? Aur app yahi assumption kyu liye aur koi assumption kyu nhi liye ? Plzz reply me sir clear my doubt

[@CAKunalKumar]

@@HarshRajabmn2004Apko kon se assumption appropriate lag rhi hai.. Ki tax nhi pay kara? Can you imagine implications of not paying tax due for one year

[@HarshRajabmn2004]

@@CAKunalKumar yes sir I think these are implications of not paying tax due of 1 year are - Penalities, bad impact on market , if the company not pay tax then the govt. May close it etc . I think so this are the some implications of tax not paid due on one yea As a result we assume that the provision for tax of previous year paid on current year.. and current year provision are added to net profit to calculate net profit before tax and extraordinary item .. Am I now thinking in right direction sir ya need some more clearity in my thinking ? If more clearity is needed then suggest me sir otherwise confirm my thinking by replying me something sir ....

[@CAKunalKumar]

@@HarshRajabmn2004 Thinking correct now 👍

[@AJIT_01M]

Thankyou sir ✨✨

[@kunalsonak1992]

Sir treatment of dividend or bta do??? ::

[@CAKunalKumar]

Check karo video hai already mere channel par.. Treatment of dividend ki

[@kArANsiNGh-od8es]

❤️

[@abdulabdulwaris8668]

A businessman starts his business by issuing 10 lakh debentures of 10 each at the interest of 10% he borrows rupees 250000 at 12% per annum from the bank he bought a machine of 300000 he also paid interest on loan on on debenture during the year end in net profit of 10 lakh find out cash flow from financing activities

[@Jyotiyadav-iw3nu]

Thanks a lot for your help with this word sir ji amazing class 🙏 👏 🙏🙏🇮🇳🇮🇳🇮🇳

[@jyotigandhi3856]

Hi Sir Would there be any impact due to deferred tax?

[@Lakshyarajkalra]

Add in Non operating/Non Cash Expense

[@siddharthaggarwal884]

thanks

[@kunalrastogi4939]

Main advance tax ka treatment to btaya hi ni..?

[@anitaswami5428]

new subscriber 🤩💯💯🛐🛐🛐

[@CAKunalKumar]

Thank you

[@nileshshukla1192]

sir kuch reason to btaoo

[@CAKunalKumar]

Provision for tax is created on Profits earned by the Company. It is created due to prudence principle. I think I have started with this concept only. After this I have discussed its treatment in Cash Flow Statement. Let me know what else you wanna know. I would definitely try my best to explain.

[@kashishkundal8797]

Kya koi please mujhe bataega ki adjustment me agar "premium on redemption of preference share 5000" diya ho to use 1. Finance activity me outflow dikhayenge Per kya net profit me add back bhi karenge? Jaise aur expenses ko karte hai Mujhe ye doubt isliye aaya kyunki preference share pl appropriation ka part hai pl ka nahi Please help

[@HarshRajabmn2004]

Finance me toh outflow hoga hi par net Profit tab hi add karenge jab quest specific kuch mention karega otherwise usko as it is chod denge .... I think you got my point that what I am trying to tell you...

[@Balgopalkanha83]

🙏🙏🙏❤️❤️

[@Gavvvyy]

Ye kitna easy hai aur Mai faltu mein kuch bhi logic bnake solve kar rha tha😢

[@aymanchaudhary5179]

👍❤️

[@RaushanKumar-vn7nb]

Yadi advanced tax ho to

[@RouttheSagar]

One comment for helping me sir😁😁😁

[@abdulabdulwaris8668]

Sir is ka solution send kar da na

[@nileshshukla1192]

app ne to ratawa diya

[@gurbaani.vichar]

Thank so much it's very helpful 😊

[@sahilmishra4079]

thank you

[@uddipangarrix340]

Thank you sir

[@harman1807]

Thankyou so much sir

[@emilthomas2867]

Thankyou Sir.

[@Anantkriz]

Thanks a lot sir really helpful 🙏🙏🙏

[@shristikumari434]

Thank u sir ☺️

[@mukul_singhal_13]

Thank u sir