Answer Posted / sathees

the following steps are followed by employer

1. Monthly salary converted to yearly.

ie.28000x12 = 336000/=

then, yearly total PF contribution by employees should
deducted from gross salary u/s 80ccc

and any savings LIC, 5 years postal saving, etc taken to
consideration. The saving limit upto 100000/- should taken
u/s 80

and the employee getting any HRA exemption that also
deducted.

after that we can see the net salary is taxbale salary as
per the income tax slab rules.

ie, upto 160000 - nil
160000- 300000 -10%

A loan of 10000 with 10% interest is fully due after 6 month. What will accrue differed, outstanding?

2162

---

what is a grn in terms of accounting ? what is a grnthroughpo in terms of purchase order? what is a direct grn?

4291

---

Do you know balancing in accounting?

987

---

What are the 5 basic accounting principles?

1001

---

how much cash transaction to single transport company per day and also per year

1540

---

what is a corporate chart of accounts and its purpose?

1790

---

Tell me what is the general classification of accounts that usually ledger account involve?

1066

---

Explain what does financial statement of the company includes?

1041

---

what accounts payable applications are your familiar with?

1100

---

is it related to b.com syllabus or puc syllabus

2274

---

Why did you select accounting as your profession?

957

---

what is the enty for contract bill raised?

2378

---

consultancy charges receivable Rs 30000 from abc & co. tds receivable 3000

1357

---

Accounting transactions are recorded in accordance with thier legal form or substance. Briefly explain the legal form and substance of the accounting transactions and give one relevant example.

2182

---

under the modified cash basis of accounting, most revenues and expenses are recognized on the cash basis. Which one of the following items is an EXCEPTION to this accounting practice? a.Advertising b.Professional Fees. c.Supplies d.Rent

2088

---