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[Information Consultant]

advance Tax sec 147 Income tax ordinance

6[(4) Where the taxpayer is 7[an association of persons or] a company,the amount of advance tax due for a quarter shall be computed according to the following formula, namely-

(A x B/C) –D

A is the taxpayer‘s turnover for the quarter;

B is the tax assessed to the taxpayer for the latest tax year

C is the taxpayer‘s turnover for the latest tax year; and

D is the tax paid in the quarter for which a tax credit is allowed under section 168, other than tax deducted other than tax ded u/s 155

Journal entry

Advance Income tax Debit

Bank Credit


Provision of Taxation

Yes u make provision at the tme of closing of account

Salary of Employee

Agar salary 25000 per month say zada hay to us per tax deduct hoga
Agar ap apnay accounts may salary show karain gay to tax deduct karna paray ga

One query balance

Ap nay new company incorporate ki hay hum softwares and websites bhi designed kartay hain agar us kay hawalay say koi quer ho to zaroor bataya ga