dear sir
i have not paid tds for fy 2008-09 for period april 08 to feb 08 the amount of tds is rs 74695
interest rate for tds is 1% per month

so plaese check the interest calculated on the amount say is it right figure

tds april to feb rs 74695
due dt 7 of ech month
delays days 11 month

tds 74695.00
11% int 8216.00

total payable today is 82911.00

is it right

sir
one of my staff is paid salary per month rs 23000.00 but our firm doesnt have any salary structure please can u provide salary structure because some expenses are allowed & some disallowed

regards

sir
we are a cha firm.I have not deducted tds from april 08 to feb 09 now i will deduct tds for april to feb.the tds amount is rs 74695.00 but i dont now how to cal. the interst.so please say me the formula for cal. interest on tds. 1% interest is charged so from april to feb its 11% so i should cal.74695*11%=8216.00 is it right please say.

please say me the accounting entry to pass the tds for party
party dr
interest dr
tds payable cr
is the entry right.

regards
survesh

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The company's contention is that it incurs no additional cost.
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Who can adept cash or Mercantile system of accounting ?

What is the major difference in cash and mercanile system of accounting ?

Can a company follow cash accounting system ?

please also tell when it can follow cash accounting and mercantile system of accounting ?

I HAVE RECEIVED RS 100 /- AS PER BILL FROM A .

SAME I DISCOUTED WITH BANK BANK AGREED TO PAY 90/- RS 6/- KEEPS TOWARDS MARGIN AN RS.4/- TOWARDS INTEREST

BANK PAID AS PER AGREED TERMS THEN WHAT WILL BE THE ENTRIES FOR THIS

sir
1)please say that how should i calculate tds interest for period april to feb not yet paid tds amount is rs 74695.00 please say the formula and say what are the last date for payment of tds.

2) should the interest debited to party or shown in expenses.

what date should be consider for cal. interest if i pay tne amont dt 7/3/2009