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Categories >> Accounting
 
  Audit (428)  CompanyAffairs-CS (159)  Taxation (1917)  Accounting-General (2844)  Accounting-AllOther (4376)
 


 

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Question
Dear Sir,

i am doing excise part, now I have a dout Please clarify 
any one. my question is I submitted July month return in  
before 10th August. But we sold material in july to x party 
excise value 12% - 1000, 2% - 20 and 1% - 10 Rupees 
respectively, we paid this amount in the same month it's no 
problem sir. but now x party reject the material and 
invoice in september month. may i adjuste above paid amount 
in september month return? How can i adjuste and where can 
i metione this details in Excise return? please give answer 
it's help full for me. Advance thanks for every one reply.

Rank Answer Posted By  
 Question Submitted By :: Prasad
This Interview Question Asked @   Working
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Answer
any sales return nothing but purchase bill 
you take it as purchase bill and posted it to RG 23-partii
it is effected in next month ER-1 as purchase .
 
0
Ch.venkata Ramana
 
 
Question
What is difference between financial lease & operating lease 
(IAS 17)? Also pass the journal entry treatment for both the 
leases.
Rank Answer Posted By  
 Question Submitted By :: Barodianbuddy(ACCA)
This Interview Question Asked @   QX-Limited
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Answer
Financial lease:- 

1. long term lease
2. one lessee usually
3. accounting treatment:- lessee capitalize leased asset as non-current asset. Hence depreciates it.
 obligation to pay future rentals but this must be split between current & non current liabilities.

4. Substance over the foam concept (IAS 1 & 8)

Operating lease:- only renting of the asset

1. short term lease
2. Accounting treatment:- Lessor shows it as non current asset and receives rentals from lessee.

Lessee shows any amount accrued but unpaid as payable.
 
0
Barodianbuddy(ACCA)
 
 
Question
What is Deferred tax??
Rank Answer Posted By  
 Question Submitted By :: Barodianbuddy(ACCA)
This Interview Question Asked @   QX-Limited
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Answer
deferred tax arises because accounting profit will not be equal to taxable profit. The reason can be split into 2 categories:

1. permanent difference:- items that would have been used in calculating accounting profit but would not be used in calculating taxable profit. eg entertaining expenses (UK tax)

2. TEMPORARY DIFFERENCE:- Items that would have been used in calculating accounting profit and taxable profit but in different accounting periods. eg depreciation/tax allowances.

IAS 12 considers only the temporary differences.
 
0
Barodianbuddy(ACCA)
 
 
 
Question
SIR ,
PLZ DEFINE 'H' FORM,E1 FORM,D2 FORM
Rank Answer Posted By  
 Question Submitted By :: Rajesh Kumar
This Interview Question Asked @   JCB
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Answer
H form- issue of certificate as proof of export

E1 form- obtain from sales tax office. claiming exemption from cst for inter state sale.

D2:- issued to dealer to export goods outside India without charge of sales tax.
 
0
Barodianbuddy(ACCA)
 
 
Question
Journal Entry:-
Till taking for the months Rs 10000.
Rank Answer Posted By  
 Question Submitted By :: Cmc.vikaskumar1994
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Answer
Please Give me a answer of this journal entries
 
0
Cmc.vikaskumar1994
 
 
Question
IF I HAVE RECEIVED 75000 LEAVES ENCASHMENT TAXABLE OR NOT 
TAXABLE PLZ TELL ME
Rank Answer Posted By  
 Question Submitted By :: Khan
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Answer
Leave Encashment is fully taxable in case received during the employment period.
 
0
Barodianbuddy(ACCA)
 
 
Question
how to a/c in all bank passbook entry in tally erp 9 and all 
bank passbook short form informetion
Rank Answer Posted By  
 Question Submitted By :: BHAILALGOTHI
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Answer
i have no ans.
 
0
BHAILALGOTHI
 
 
Question
if i have 180000/- salary per annul so how much i have to
pay itr. and i havet pay any itr so what is the procedure
for minimum salary tax.
Rank Answer Posted By  
 Question Submitted By :: Gks0286
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Answer
income tax
 
0
Gks0286
 
 
Answer
THIS AMOUNT IS TAX FREE
 
0
Vikas Sharma
 
 
Answer
The amount of INR 18000 is tax free. No income tax needs to be paid. The basic exemption limit in case of individuals (other than senior citizens) has been increased from existing INR 200,000 to INR 250,000 per year.(Government of India, Finance act 2014)
 
0
Barodianbuddy(ACCA)
 
 
Question
What is the treatment of partners salary in profit and loss 
account.
Rank Answer Posted By  
 Question Submitted By :: Narender
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Answer
it is recorded debit side in the p/l a/c
 
0
Kapilsingh
 
 
Answer
it is recorded debit side in the p/l a/c
 
0
Kapilsingh
 
 
 
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