a newly established company , any expenditure incurred inrespect of testing machinery and any other expenditure incurred whether provision can be able to made in respect of such expenditure ,if there is operating loss if not please specify with provision

i want to know the,how to create the provision for taxation entries at the end of the year.can any body clear my this query with example of any new company?

I have a doubt regarding ESI and PF.

If a employee's gross salary is 8000/- for that PF is 780/- @12%(6500 Max Limit) and ESI is 140(@1.75%).

my question is if he take leave for 18 day then his salary becomes 3204/-(8000/30=267. 267*12=3204).
Now on which salary we have to deduct the PF and ESI is 780/- on gross salary or 384/- on

Dear Sir,
I want to know that a company has charged 2% against Form 'C' in a bill to his buyer . Suppose the buying company did not give 'C' Form. Whether the selling company will charge balance 2% or total 4% of the Taxable goods.Then the procedure how to charge the tax to the selling company?

Dear Sir,
kindly clarify the following problems,
1) Can a Private Limited Comapany give unsecured loan to a proprietorship firm? If yes, whether the firm will repay the loan within the current year or the firm can repay in next year also?

I want to know how to make the projections in a projected balance sheet.

Plz give me a guide.

DEAR ALL,

HOW TO PREPARE BUDGET

WHAT IS A PROCEDURE FOR PREPARING BUDGET

WHAT ARE THE STEPS ARE INVOLVED IN PREPARATION OF BUDGET.

kindly help to me...

WITH THANKS

K A K

Dear Sir,

I am new in Account. I want Know how can i pass entry in Tally Software as P.F & ESIC. And ledger creation of it under Which Heads.


Thanks for your Reply. But Actuly my problem is not comlete, because P.F & Esic both are Employees contribution is paid to the goverment & employers contribution is Shown in Profit & Loss Account.


Here is problem create if i create ledger pf & Esic under Current liablities it appear in balance Sheet not P/L Account.

Dear sir,

please help me for following querries:

1) I have one Non IATA Travel Agent(Say X) he is buying Air tickets from Go-Air or from some other IATA and non IATA agents(Say Y ) the bill consist of detail as under eg.
Ticket Amount Rs.50,000
Less: Handling Chg. Rs. 2,500
Add: Service Tax Rs.5,150
Add: TDS on H.Chg. Rs. 283
---------
Net Due Rs.52,933/-

For This X paid the amount by Ch. To Y Rs.52933/-

Now X issue this ticket to (Say Z ) and charged Rs.55,150/- which he gets from Z by way of Ch.for Rs.55,150/-

Now what will be the accounting entry in books ( Whether this will be sale and purchase of ticket or commission income suggest me ) is there any procedure for travel agents to book entries.

2) what will be the amount of turover for the purpose of TAX Audit,
Commission Amount or Sale Amount


3)Is Travel agent is cover under the Provison of U/s 44AF for for payment of income tax if its turnover is not exceeding for Tax Audit under Income Tax ??

Expecting reply at earliest.

can i take plywood used for making racks in cloth manf, as capital asset,

can i take invoice date as capitalization date, asset came after invoice date