Our client sells car-insurance policies. The company gives 4% commission on policies sold. I want to know that what journal entry is to be passed, because there is 2% deduction of TDS, and also, 10.3% Service Tax element. How to pass the journal entry for TDS and Service Tax Element?

For example, policies sold, and its 4% is1,40,000 and 10.3% Service Tax is14,420. Total is1,54,420.

Of this1,54,420 TDS of 2% is 3088, and net amt receivable is1,51,331.

Anybody please tell me, how to pass journal entry for it. Thanks.

Hi sir,

Can you please explain what is a debit note when seen from accounts payable?

and when should an entity recieve or raise a debit note.

Hi,

Our co. has taken a land on lease for 12 years. Co. has incurred Rs. 5 lakhs approx on the filling of land and other land improvement cost. Apart from the above monthly lease rent of Rs. 30000/- is also being paid by the co. What should be the treatment of above expenditure of Rs. 5 lakhs? Whether this should be taken as fixed asset in the books of account or shall be written off over the lease period. If it is to be written off please tell that the balance portion shall be presented under which head in the balance sheet?

Looking forward to an early reply from all.

can you please tell me how enter voucher in tally regarding imported fix asset (machinery)
& how much take custom duty & excise please brief with figure???????????

sir,
(1) what is the main and exact difference between acts and rules?

(2) when shares originally issued at discount and re-issued also at discount, then what will be the journal entry for this situation at the time of the re-issue of shares and why?

Please explain Deffered tax Assets & Deffered tax liabilities.

Dear experts,

can any one please specify the applicability date of IFRS for Indian companies in India..urgent

thank you,


Surya

Hi!

What s the best way to account for excess quantity of material received than specified in Excise invoice.

we are requesting the vendor to give seperate invoice for the excess material. But it is taking lot ot time to issue.

Can we issue credit note for the excess material received? How far it is justified as far as CENVAT Rules are concerned?

Dear Sir,

I want to know about the accounting procedure of Media/Entertaining companies. I just want to know about the which type of taxes in these companies. Awaiting your reply.

Thanks
Sarita

sir i am unable to calculate DCF values of share please explane me in very deatiled way because it is very important and i m totally blank in this.