Very helpful. Sir I regular watch your video and it really helps my accounting knowledge. Sir I ve a question regarding AIT ( Advance Income tax from sources). We receive export proceeds from customer. In our realisation voucher 0.5% deduct as a AIT. My question is what is the accounting treatment of this transaction and how it effects our financial reporting. Need your advice.
Thank you sir to share with us knowledge
Thank you
Jazakallahu khairan Thanks sir
Many many thanks
Thank you so much sir.
Thanks
Very helpful. Sir I regular watch your video and it really helps my accounting knowledge. Sir I ve a question regarding AIT ( Advance Income tax from sources). We receive export proceeds from customer. In our realisation voucher 0.5% deduct as a AIT. My question is what is the accounting treatment of this transaction and how it effects our financial reporting. Need your advice.
Dr Cash/Bank Cr Sales proceeds (excl. AIT) Cr AIT as a current liability
@@Tem209 thank you Sir
@@shahjadamonsur1110 you welcome sir