Answer / bhupender janmejai

Taxation acc. DR
to provision for taxation acc. CR

At the time of payment of tax..

Provision for taxation acc. DR
to cash or bank acc. CR

Answer / madhulika2011

1)
P & L A/C...DR.
TO PROVISION FOR TAXATION A/C

2)
PROVISION FOR TAXATION A/C...DR.
TO TAX PAYABLE A/C

3)
TAX PAYABLE A/C...DR.
TO BANK OR CASH A/C

I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 - 0 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?

1 Answers  

---

what is the incometax

3 Answers  

---

what is the process of paid unpaid in service tax

2 Answers   Airtel,

---

how tds is calculated?

1 Answers  

---

What are Excise Duty rates for Fin.Year 2009-10 for Pesticides and Chemicals Industries.

0 Answers  

---

---

What are the streamlined sales and use tax agreement?

0 Answers  

---

Why Tds is not deducted on service tax amount of rent bill(let out for business purpose).

2 Answers   Mphasis, VNS Accessories,

---

WHETHER IN RETAIL INVOICE IS IT NECESSARY TO SHOW TAX PERCENTAGE OR NOT.

2 Answers   Genpact, KFCSC,

---

which amount filling in c form (in invoice) its urgent basic value of item + excise duty + cst

2 Answers  

---

ON WOODEN FURNITURE EXCISE IS APPLICABLE OR NOT ?

0 Answers  

---

Total amount inclusive of tax is 1,00,000 1) ST @ 14.5% on 30% of value 2) COT @ 4% on 100% of value Please find the answer?

1 Answers   GW,

---

How to prepare the Income Tax and income Tax return?

1 Answers  

---