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anil-kumar
Sep 26, 2019 11:08 PM UTC
Question

IN: How to record Advance Income Tax Payment in Quickbooks in Indian context ?

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    1 reply

    asha_kanta_sharma
    asha_kanta_sharma
    Dec 21, 2020 11:23 AM UTC
    You have to create an Account like "Advance Income Tax - FY 2020-21" in QB which should be an Asset Account. The below will be the Journal Entry at the time of payment of Advance Tax.

    Advance Income Tax - FY 2020-21 - Dr.
    Bank Account Cr.


    Hope this helps. Thanks
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