i want to pass entries for payment of self assessment tax. i have debited advance tax and tds receivable in current assets.
now, while paying self asseesment tax, what entry i am supposed to pass and when i receive the assessment order from the itax dept. after a year or two, then what entry i am supposed to pass if the amount as assessed by the department is different from the amount paid as income tax by the company.

SIR IF WE PURCHASE A BATTERIES FOR (5800)PERSONAL USE WITH 13.5% TAX.. IN CASH . THAN SIR WILL I SHOW THIS ENTRY IN PURCHASE MODE(F9). OR IN JOURNAL MODE (F7).AS PAR MY KNOWLEDGE THIS ENTRY SHOW IN JOURNAL MODE(F7)
FURNITURE & FIXTURE A/C DR.5800
TO CASH 5800
SIR IS THIS ENTRY IS CORRECT IF WRONG THAN SIR CLEAR MY DOUBT.
THANKS IN ADVANCE
REGARDS
RAJEEV(A/C)

I am using tally 9. TDS rates given in tally in respect of commission & brokerage is 5% where as TDS rate on commission & brokerage given in income tax act is 10%. How I can alter TDS rates in tally Tell me the steps.

I am using tally 9. TDS rates given in tally in respect of TDS on commission or brokerage is 5% whereas TDS rate on commission & brokerage given in income tax act is 10%. How i can change TDS rates in tally Please tell me the steps.

In tally at the time of passing entry in respect of tax deducted at source on commission or brokerage TDS is calculated at the rate of 5% by system where as the actual rate of TDS ON COMMISSION & BROKERAGE IS 10%.What is the reason.

I want to ask that how do we come to know that whether to calculate PC by net asset method or net payment method in the question????

and is there any difference between the calculation of PC by the way of merger or in the Purchase method??

please reply soon its urgent.............

A COMPANY HAS IMPORTED MACHINERY AGAINST ADVANCE LICENSE . NO CUSTUM DUTY WAS PAID ON IT AS IT WAS AGAINST ADVANCE LICENSE. HOE EVER BILL OF ENTRY MENTIONED CUSTUM DUTY ADJUSTED AND CVD ( ON THIS EXCISE MODVAT IS AVAILABLE ) ADJUSTED AGAINT LICENCE E.G. RS. 100000/= EACH. WHAT WILL BE THE ACCOUNTING TREATEMENT OF THIS CUSTOM DUTY AND THIS CVD ( MODVAT ) IN THE BOOKS

Sir,i completed my m.b.a. Presently iam working wit a manufacturing unit since a year no iam preparing for interviews how should i?what r the best books for basic accountanny & finance and sir in one they asked me the question on types of BRS contingent liability and difference between journalvs geneal entries olease help me

and wanted to know about taxation ,how tds is calculated & filed please help

Hello everybody please help me regarding to Reimb. of Medical Exp. & LTA.
(Medical & Lta is the part of the CTC)

I have allready provision for last f.y. but some employee is absconding in current f.y.

so provision of medical & lta is not paid

my auditor is ask to me i can set-off previous provision to current exp.


please help me

my client bought a sharecerficate from the bangalore stoch exchange for which he paid rs.200000 to the stock exchange.
my question:-
to which account this expenditure should charge.
i mean how to the entry to book this expenditure. (head of expenditure)