Accountancy, asked by 2y285fjdr7, 1 month ago

Provision for taxation is recorded as

Answers

Answered by Anonymous

Entities are liable to pay income tax on their yearly profit. This is usually estimated by applying a fixed percentage. As it is an estimate of tax liability therefore, it is recorded as a provision and not a liability.

Answered by elagandulagovardhan

Answer:

current liability

Explanation:

provision for taxation is recorded as current liability

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