Overview of the Income and Expenses. While the tax liability will appear as an expense in the profit and loss account the provision for income-tax will be shown in the Balance Sheet as a current liability and the Advance Tax of Rs. It is shown under. NoAdvance Tax is not an expense and an asset […]
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Vitol Financial Statements
Find out about Vitol. Where is VITOL headquarters. Vitol has 40 offices worldwide and its. Latest VITOL revenue per employee is 1081 m. Vitols net income plunged 70 per cent in the first quarter to 180m the Financial Times reported last year a sharp decline from the 600m the company made in the same period […]
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Employees Income Tax Payable On Balance Sheet
The recognition of income taxes in the balance sheet is done after the calculation of tax expenses. Income taxes payable appears in the current liabilities section of the companys balance sheet. John Mathay while introducing the Finance Bill reduced income tax from 5 annas per rupee to 4 annas. While accounts payable may seem similar […]
