mahendra


{ City } delhi
< Country > india
* Profession * accountant
User No # 30976
Total Questions Posted # 6
Total Answers Posted # 13

Total Answers Posted for My Questions # 20
Total Views for My Questions # 39530

Users Marked my Answers as Correct # 205
Users Marked my Answers as Wrong # 60
Questions / { mahendra }
Questions Answers Category Views Company eMail

any change in service tax rate 10.3%?

 4 Taxation 5211

expand ERP

 6 Accounting AllOther 9533

E payment is valid for Income Tax only or can other payment will me made?

 1 Taxation 2911

what is document require for vat registration?

 4 Taxation 13060

pLAESE TELL ME ENTRY ONE PURCHASE BILL RECEIVED THERE IS PURCHASE AMOUNT 15000/- INPUT VAT 4%-600, FREIGHT CHARGE IS 400/ .SO THAT IS THE ENTRY

 4 Accounting AllOther 6271

DEAR ALL WE RECENTLY GET TIN .CAN WE SALE CENTRAL ON THIS TIN ? HOW TO FILE DVAT RETURN?

 1 Taxation 2544



Answers / { mahendra }

Question { Influx Info Solutions, 16181 }

What are the exemptions from salary


Answer

50% hra in metro and 40% other city

Is This Answer Correct ?    12 Yes 1 No

Question { 94225 }

Professional fees of Rs.30000/- is paid to a consultant ABC
& Co.
please pass the necessary entry for the same


Answer

1- Journal entry
Professional Fee DR 30000.00
To Tds Paybale 3090.00
To ABC & Co 26910.00
(Being Professional fee payable)

Payments-
2- Tds Payble a/c Dr 3090
To Bank A/c 3090
( Being tds deposit)

3- Abc & Co Dr 26910
To bank a/c 26910
( Being Amount paid to Abc & Co.)

Is This Answer Correct ?    14 Yes 7 No


Question { Dozco, 15283 }

WHAT IS SERVICE TAX.


Answer

service tax applicable both service you received & you
provide service tax rate 10.30%

Is This Answer Correct ?    0 Yes 3 No

Question { 19358 }

Can i clarify, whether VAT & Service Tax are Proffit & Loss
A/c items (or) Balance Sheet Items.


Answer

both are balance sheet item

Is This Answer Correct ?    2 Yes 1 No

Question { Syntel, 14577 }

Which form we use for depositing VAT?


Answer

form dvat 20

Is This Answer Correct ?    2 Yes 2 No

Question { 10183 }

I gave cash advance of Rs. 70000 to one our enginner at
site. He submitted only bills of 69000. Please tell me, how
I can write these transaction in the Day book.


Answer

1- payment entry
party name dr-70000/-
To Cash 70000/-
(being cash paid to party as advance)

2- Journal entry when bill Received
Expenses a/c dr 69000
To Party A/c 69000

(Being bill Received from party)

1000/- Is balance in party a/c till date when bill not
reveiced

Is This Answer Correct ?    2 Yes 1 No

Question { 50531 }

DEAR ALL,
HOW TO ACCOUNT THE SALARY ADVANCE A/c. I HAVE TAKEN AN
ADVANCE OF Rs.25000/-. I HAVE DEBITED SALARIES ADVANCE A/c
AND CREDITED THE PETTY CASH A/c in TALLY. I dont't know
whether it is correct or not. If correct, in my individual
ledger no entry is reflected. Alternatively, if I debit my
self and credit petty cash a/c it is reflected in the P & L
Account, but it is not an expense. and not reflected in the
balance sheet, but reflected in P & L. I think I need to
put a journal entry. Like debiting the salary account and
crediting the salary advance account. Is this correct or
not? Can any one help me please. my mail add:
cdvijay100@yahoo.co.in or kmlnkml@live.com


Answer

first entry payment is

Vijay a/c dr 25000/-
To cash /Bank 25000/-
(being advance salary paid to Vijay)

Second entry when Salary due-

journal entry
Salary a/c dr 25000/-
to Vijay a/c 25000/-
(Being salary paid to Vijay)

If Salary is 25000/-

Is This Answer Correct ?    41 Yes 18 No

Question { Capital IQ, 32516 }

what is sevice tax present rate


Answer

servicetax rate is 10.3%

Is This Answer Correct ?    21 Yes 5 No

Question { 8250 }

expand S T P


Answer

sales tax paid

Is This Answer Correct ?    0 Yes 0 No

Question { 59441 }

Received from Krishna Murthy Rs 26500/- in full settlement
of due Rs 30000/-. Pass entry


Answer

RECEIPT ENTRY

CASH/BANK A/C DR 26500/-
DISCOUNT A/C DR 3500/-

TO kRISHNA MURTHY 30000/-

(BEING AMOUNT RECEIVED FROM 26500/-)

Is This Answer Correct ?    36 Yes 10 No

Question { 7519 }

purchases for rs100. vat @ 10% and cash discount rs 5 what
is the entry passed


Answer

purchase a/c dr 95
inputvat @ 10% 9.5
to cash 104.5

(being cash purchase )

Is This Answer Correct ?    3 Yes 8 No

Question { 4954 }

what is service bill and what is the nature of this bill
how handle in a firm and how treat thi type entry in tally

FOR EXA. SERVICE CHARGE AMOUNT IS = 1500
ADD SERVICE CHARGE @10.3 = 154.50
ADD SURCHARGE @2% ON SERVICE CHARGE = 3.90
ADD CESS EDUCATION TAX 1%ON SERVICE TAX= 0.0309

TOTAL AMOUNT =


Answer

service charges 1500
service tax 154.50

------------
total bill amt 1654.50
------------

Is This Answer Correct ?    1 Yes 0 No

Question { 21912 }

What will be journal entry for TDS deducated from an
freight payment of RS. 15000.00 , applicable TDS rate is
2.266%


Answer

FREIGHT A/C DR 15000/-
TO TDS PAYABLE A/C 340
TO PARTY A/C 14660

(BEING AMOUNT OF FREIGHT CHARGE)

TDS PAYBLE DR 340
TO BANK/CASH 340
(BEING TDS DEPOSIT )
PARTY A/C 14660
TO CASH/BANK 14660
(BEING PAYMENT AGST BILL NO----)

Is This Answer Correct ?    71 Yes 4 No