Question { Capital IQ, 27524 }

what do you mean by fixed asset?

Answer

fixed assets are those fixed assets which can be use for
long term which cannot easily convered into cash, example
of fixed assets vehicles,machinery,building,plant etc,

Question { Perot Systems, 18655 }

what is surcharge?

Answer

surcharge is charged, Income tax covred under income tax
Act 1961,if taxable Inocme exceed above 10 lakh then
surcharge should be pay by assessee @ 10% with ed.cess 3%

Question { 5816 }

what are the golden rules of accounting?

Answer

account are three types
1. Personal A/c - Firm,name,Company,person.
DR- The Reciver
CR- The Giver

2. Real A/c- Cach a/c,Bank a/c,
DR- What comes IN
CR-What goes OUT

3. Nominal A/c Interest,Penalty,Copyright.wil
DR - All losses
CR- All Gains

Question { Vertex, 124399 }

what is 94c,94J,and 94I form meant for ?

Answer

94c for the main contractor for 2% if exceed agreegate
income RS 50,000/- PA

94J for professional or technical services.10% for all payee

94I for Rental services.Ind/HUF 15% or any other person 20%

Question { Vertex, 6672 }

Expand W C T

Answer

As per D-vat Act-2004,As per WCT rule every contractor
charged wct to contracty. (must get TIN no. for Contractor)
so contractor must get registration under -vat act, if
their annual turnover exceed Rs 10 Lakh,

1.The contracty also deducted TDS 2% on the gross bill
amount.

2. The contracty deposite sush TDs to govt.a/c with 28days
to next month throw challan no D-vat20.

3.for the TDS every contracty must get TAN no from sales
tax dept. throw application form no D-vat 44. And after
that sale tax dept issue TAN no in form no D-vat45.

4.The contracty issue certificate to contractor after
deposite TDS in sales tax office in form no D-vat43, with
in next 28days of month.

5. these above said detail only for RD in Delhi.