Interested to Buy Any Domain ? << Click Here >> for more details...
Income Tax Department sends cheque for INR 2 Crore as
Refund after completion of Assessment for A.Y.2011 - 2012
to a Company. As per IT Return filed for this year I.T.
due to Government was INR 60 Lac but was assessed at INR
70 Lac. TDS due to Company was INR 3 Crore which was
admitted as INR 2.7 Crore by Government. Government also
adjusts Tax dues for A.Y. 2009 - 2010 of INR 40 Lac which
was disputed earlier by the Company and Appeal was lying
with the CIT. Government pays Interest to the Company
amounting to INR 40 Lac. Provision for Income Tax made by
the Company in its accounts for F.Y. 2010 - 2011 (A.Y.
2011 - 2012) was INR 50 Lac. What would be the Journal
Entry at the time of receipt of Refund of INR 2 Crore
from the Government in A.Y. 2014 - 2015 in the books of
the Company?
- 0 Answers
- 2516 Views
- I also Faced
- E-Mail Answers
No Answer is Posted For this Question
Be the First to Post Answer
The stock investment and opening stock of a firm are Rs.500 and Rs.1000 respectively. Calculate its closing stock.
Occasionally it is said that issuing convertible bonds is better than issuing stock when the firms shares are undervalued. Suppose that the financial manager of Decent Furniture Company does in fact have inside information indicating that the decent stock price is too low. Decent furniture earnings will in fact be higher than investor’s expectations. Suppose further that the inside information cannot be released without giving away a valuable competitive secret. Clearly, selling shares at the present low price would harm Decent’s existing shareholders. Will they also lose if convertible bonds are issued? If they do lose in this case, is the loss more or less than it would be if common stock is issued? Now suppose that investors forecast earnings accurately, but still under value the stock because they overestimate Decent’s actual business risk. Does this change your answer to the questions posed in the preceding paragraph? Explain.
what is mergers and acqusitions? what is holding company?
what are all the things to be checked while consolidation of project/site accounts?
what is credit managment & quqlity managment
STATE & EXPLAIN THE IMPACT OF GLOBAL FINANCIAL CRIS ON CEMENT SECTOR IN INDIA:
MY QUESTION IS THAT IS WHEY WE SELL THE UPS IN THE MARKET BUY FROM THE IMPORT WHAT THE DUTY WE WILL FORWARD TO THEM.
what is the difference of Capital and Investment?
Can a Chairman of the Board be removed from the chair by the Managing Director And other Directors of the Company during the Course of the Board Meeting.
what is the difference between debenture and baond
analyses of Cost control
WHAT IS THE PROCESSOR OF IMPORT & EXPORT
Audit 
