shishu yadav


{ City } gurgaon
< Country > india
* Profession * accountant
User No # 15697
Total Questions Posted # 0
Total Answers Posted # 17

Total Answers Posted for My Questions # 0
Total Views for My Questions # 0

Users Marked my Answers as Correct # 300
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Questions / { shishu yadav }
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Answers / { shishu yadav }

Question { Syntel, 296731 }

What are accounting Principles?


Answer

Three types of Accounting Principal

1. Personal Account
Dr - Reciever
Cr. - Giver

2. Real Account
Dr. - Assets Comes in
Ct. - Assets Goes out

3. Nominal Account
Dr. - All Expenses
Cr. - All Imcomes & Gains

Is This Answer Correct ?    9 Yes 10 No

Question { 27464 }

Pass a entry for salary payment basic 5000, HRA 3000,
Medical 200, TDS 500 Adv 200 & deducted PF with narration.


Answer

Basic Salary A/c Dr. 5000/-
HRA A/c Dr. 3000/-
Medical A/C Dr. 200/-

To Salary Advance A/C 200/-
To P.F. Payable A/C 600/-
To Bank / Cash A/C 7400/-

(Being Salary Paid to Mr. ... for the M/O... Through Ch.
No... )

Is This Answer Correct ?    4 Yes 2 No


Question { 7825 }

What is Service Tax Rate & who exempt Service Tax Rate


Answer

Service Tax rate 10% + 2% Ed.cess+ 1% Higher Edu. Cess=
10.3% for F.A. 2009-2010

If P.A. Turnover more than 10 Lacks - Compulsory S.Tax
Registrantion

If P.A. Turnover Less than 10 Lacks - Not Compulsory S.Tax
Registrantion but u can registration for input benefit.

Is This Answer Correct ?    10 Yes 1 No

Question { ABC, 47434 }

What is minium bill of TDS Deduction

Example

If Contractor give us 1st Bill - 10000/-
2nd Bill - 15000/-
3rd Bill - 7000/-



Answer

TDS applicable on Minimum Bill amount 20000/ P.A

1 10000/ TDs Not applicable
2. 15000/ TDS applicable (15000+10000) 2%+3% E.Cess
for Main Contractor
3. 7000 on 2% + 3% Education Cess.

Note- in case 1 (10000/-) applicable if a contractor bill
rs. more than 20000/- in a year

For sub contracot & advertising com. 1% + 3 % edu. cess

Is This Answer Correct ?    24 Yes 12 No

Question { 22532 }

what is E.S.I, P.F rates and working notes


Answer

Total PF Contribuiton is (25.61% on Maximum 6500/-)

Employer's 12% on basic (Maximum on Rs. 6500) = 780/-
Emolyee's 12% on basic (Maximum on Rs. 6500) = 780/-

But 1.61 % Extra had to pay by Employer's for
Administrative Exp. o(Maximum on 6500) = 105

Total Payable by Empoyer's(25.61%) = 1665/-

Total Contribution E.S.I (4.75+1.75)= 6.5%

Employer's 4.75% on Earning Salary (Maximum Rs. 10000/-)
Employee's 1.75 on Earning salary (Maximum Rs. 10000/-)

Is This Answer Correct ?    84 Yes 18 No

Question { Deloitte, 27062 }

Do companies pay exactly same amt of P.F (as employer's
Contribution )as deducted from employee's salary
Eg. employee's cont. 5000/-
employer's cont. 5000/- is it


Answer

Employer contribution 12% of basic (maximum on Rs. 6500)
Emplyees Contirbution 12% of basic (Maximum on Rs. 6500)

But 1.61% extra has to paid by employer's as a Admin
charges.

Gross Amount will be deposit in PF.

1. Employer's Of Rs. 780+105 (12%+1.61%on 6500/-)
2. Employee's Of Rs. 780 (12% on 6500/-

Total 1665/-

Is This Answer Correct ?    10 Yes 1 No

Question { Deloitte, 27062 }

Do companies pay exactly same amt of P.F (as employer's
Contribution )as deducted from employee's salary
Eg. employee's cont. 5000/-
employer's cont. 5000/- is it


Answer

Accourding To Answer No 3 by Mr. Vinay Kumar Kharbanda

Employer's contribution 5000/- on Rs. 41667/-
Employee's Contribution 5000/- on Rss. 41667/-

Admin Pay by Employer's 1.61% - on Rs. 41667/- = 671

Total Payable by Employer's = 10671/-

Is This Answer Correct ?    4 Yes 1 No

Question { Deloitte, 27062 }

Do companies pay exactly same amt of P.F (as employer's
Contribution )as deducted from employee's salary
Eg. employee's cont. 5000/-
employer's cont. 5000/- is it


Answer

Suppose Basic Salary Rs. 100

PF on 100 rs.@12% 12

when we paid 12 rs. on= 100

What will be on Rs. 5000*100 / 12= 41667

Is This Answer Correct ?    5 Yes 4 No

Question { Deloitte, 27062 }

Do companies pay exactly same amt of P.F (as employer's
Contribution )as deducted from employee's salary
Eg. employee's cont. 5000/-
employer's cont. 5000/- is it


Answer

Dear All

Emplyee Side- 12 % of Basic + DA and maximum cellig limit
of PF Rs. 6500/- PF 780/- and

Employer Side - 13.61% of Basix + DA contribution would be
6500 * 13.61% = 885. as per list

Provident Fund : 3.67%
Pension Scheme : 8.33%
Admin Charges of PF : 1.10%
EDLI : 0.5%
Admin Charges of EDLI : 0.01% (Employee Deposit Link
Insurance

Note: Employee can availe the benefit of voluantry
contribution in PF A/c.

Thanks

Is This Answer Correct ?    0 Yes 0 No

Question { 53730 }

What is the difference between input vat & out put vat?


Answer

Actually, We purchased materil wihtin state and paid tax
that is called Input Tax

Exm. (Input Tax)-Mobile Purchased in Haryana for Rs. 2000/
and Vat Tax 4 % total Cost Rs. 2000+800= 2800 (800/ is
Input Tax)

Exm. (Output Tax)Mobile Sold of Rs. 3000/- & charged vat 4
% taotal collection rs. 3000+1200= 3200 (1200/ is output
tax)

Vat Payable = Output vat - Input Vat
= 1200 - 800
VAt Payable is Rs. 400/-

Please leave your comment

Thanks

Is This Answer Correct ?    109 Yes 54 No

Question { 53730 }

What is the difference between input vat & out put vat?


Answer

I made a calculation mistake toward Input vat & Output Vat


Mr Bharat is right

Is This Answer Correct ?    5 Yes 7 No

Question { IBM, 23044 }

Rent paid rs 2000 in Jan and feb 2009. What will the entry
in Feb 1st 2009.


Answer

1) Rent A/c Dr. 2000/-

To Rent Payable A/c 2000/-
(Being Rent Due for the Month of Jan)

2) Rent Payble A/c Dr. 2000/-

To Cash/ Bank 2000/-
(Being Rent paid for the M/o Jan)

Note- Same entry will be pass for Feb-)

Please leave your comment

Is This Answer Correct ?    7 Yes 5 No

Question { 4068 }

what is the diffrance between tax invoice & retail invoice
what is the rule of making invoicing please detail about
this./


Answer

A delear (hole saler) sales goods and create tax invoice
with tax.
and collected Tax. He makes tax invoiced for tax credit


And retailer makes invoice to customer. it's Retail Invoice
He can't claim input tax.

Is This Answer Correct ?    10 Yes 2 No

Question { 3123 }

I WANT FULL DETIAL FOR TDS I AM NEW JOING THE GOLD COMPANY
I WAN TO PAY TDS BUT I KNO WHAT IS THE TDS PLEASE SEND ANS
FOR FULL DETAILS HOW TO PAY, AND WHAT A/C PAY TDS ALL
DETAILS I WANT PLEASE SEND THE DETAILS.


Answer

We can deduct tds of followings services

Suppose we paid rent of Rs. 50000 in Apr'2011.

first of all we checked the nature of payment. this is
building rent of section 194I Tds rate 10% for both company
or individual and exempted upto Rs 180000/ from Apr to Mar.

We will not deducted any TDS of Rs. 50000/- Next mont rent
paid of Rs. 150000/- Now we will deducte tds on Full amount
of same pary (50000+150000)200000 * 10% = 20000/- we paid
alread of rs. 50000/- now we will paid 13000/- and 20000/
payable to goverment on befroe 7th of next month by challan
No. 281. You need any clarification Please call me on
9990333679

Is This Answer Correct ?    3 Yes 0 No

Question { Infotech, 4576 }

if A company pay salary to X 10000 after deduttion of 2000
advance and12% PF . what is the entry of it.


Answer

Salary A/c Dr 12000/-
1.
To PF Employee Cont.A/c 780/-
To Employee Advance A/c 2000/-
To Salary Payable A/c 9220/-

Salary Booked on 31st March'2011

2.
Salary Payable A/c Dr. 9220/-

To Bank / Cash 9220/-

Salary Paid for the month of March_2011.

Is This Answer Correct ?    7 Yes 4 No

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