Question

what will be the journal entry when paid income tax?
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Answer 1

It all depends on the type of assesse and the type of method of treatment they are adopting.

TYPES:-

1)WITHOUT CREATING PROVISIONS FOR INCOME TAX :-(applicable to companies, firms etc.)

>Income tax ac Dr

To bank /cash account

Answer 2

Explanation:

Make an accounting entry for tax refund money

You will debit an asset account and credit the originally debited account for the taxes paid. To show that you received a tax refund, use the following entries: Debit the cash account. Credit the income tax expense account.