When Tax paid comes under expenses account instead of
duties and taxes(current liabilities) ?
Answer / sjha.jha
If tax is paayable by assesse for any fynancial year and
how long it is not paid will have to show in Duties & taxes
(current liabilities). After paid it will be expenses.
| Is This Answer Correct ? | 3 Yes | 1 No |
What is the mode of payment of Entry Tax?
what is the rate of tds on interest payment and basic exemption limit for general insurance co.
We paid advance rent of office for next 6 months, when should we pay the TDS into bank, is it will monthly or it will be in advance?
My question is that if only 20% amount of lic is elgible in one financial year for tax exemption, than one time instalment in lic is elgible for tax exemption ?. for suppose i invest 25000 Rs. only one time in lic.pls. tell me it is elgible or not.
What is the different types of rates of TDS for different Catogaries of services.
how to pass service tax reverse charge entry pass in books
Service tax applicable or not for Govt Guest House contract work.
What is Vat and how it is adjustable with input vat and what return form required for DVAT?
0 Answers Construction, Ernst Young,
what is tds ?
Ganesh & Gopal joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Ganesh 90000 Withdrawals of Gopal 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.
when will submitt the c form and what is the percentage?and also hearing details?
I am paying LIP to my daughter Rs 12500 per annum since 5 years. last year she got married. Pl advice me whether I can add her LIP payment to my savings to get Tax benifit