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Is "Income Tax" written separately from other expenses on the income statement?

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Question added by Mehboob Ali Laghari , Social Mobilization Team Incharge , TRDP-European Union
Date Posted: 2015/08/09
Shahbaz Hayder
by Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option2 is the right answer.

Mustafa Haider
by Mustafa Haider , Assistant Manager Accounts , Kamal Hosiery Mill

WE ACTUALLY WRITE INCOME TAX SEPERATELY ON INCOME STATEMENT...NORMALLY WE DIVIDE PROFIT/LOSS IN DIFFERENT PARTS..E.G:1ST GROSS PROFIT,,THEN PROFIR BEFORE INTEREST AND TAX,,THEN PROFIT AFTER INTEREST/BEFORE TAX AND THEN WE WRITE INCOME TAX.SO MY ANSWER IS YES

Ahmer Zamir
by Ahmer Zamir , Consultant , Saleem Associates & Co

Income Tax is separate from other expenses .It is mandatory legal obligation and separate from operating or administrative and selling expense.These expenses are avoidable and controllable but income tax is unavoidable or uncontrollable so that  it is separately presented in the income statement as a charge over the income.

Waqar Latif Butt
by Waqar Latif Butt , Auditing & Business Development , IBC (Sweden - Pakistan)

2. YesIncome Tax written separately from other expenses as in special dedicated head of "Tax".

2. Yes ....................................................................................

Zehab Osman
by Zehab Osman , Accountant , Aldar Consultancy Co.

yeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeees

all answers are right,,,,,,,,,,,,,,,,,,,,,,,,,,

Sayed Rubab Sayed
by Sayed Rubab Sayed , Finance Officer , The Next

My answer is YES...................................................

Rohini Yadav
by Rohini Yadav , Account Executive , Manubhai & Shah (Chartered Accountants)

Yes, Income tax expenses are always shown separately from other expenses as these expenses can not be clubbed with other expenses and require separate disclosure.

Md. Moshiur Rahman Sumon
by Md. Moshiur Rahman Sumon , Assistant General Manager( Corporate Finance & Head of Internal Audit) , Progressive Life Insurance Company Limited

2. yes is the Correct answer..........................

2. Yes income tax is writeen separtaely from other expenses in income statement

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