I have rd bill of rs 17500 net plus reverse charges of service tax 2450 plus swatch Bharat tax 0.5% of 88 and also they mention service charges for receivable for same amt and final bill amt is 17500 now what is provisions entry to pass in March and in April when I will pay what will be the entry

Dear Experts

Our client has paid Rs. 9,75,000/- (TDS deducted as well) to contractor for Interior work done in his building.
Interior work includes Grid ceiling/Glass partition/alumimuin work/camera wire/wooden partition/granite stone etc etc.

My query is-
1) Under which head it should be capitalized?
2) Depreciation rate?

dear Sir , my aunt has earned pension income of rs. 186790 & earned interest on FD's of 182592.11 on which tds has been deducted for rs. 18266. The above info is for A.Y. 2014-2015 . Aunts age as on 31.03.2014 is 59 yrs. plz help me calculate tax payable or refundable... for A.Y. 2014-2015

Sir, How many years the audited account books to be kept, as per rules of IT Dept.

we had paid service tax liability behalf of our client RS-145000 , client paid same amt partly after paid liabilitys.. tell how to pass journal entry in my books of accounts.?

What is the percentage of Depreciation for Items purchased for our society for the FY 15-16

1, Computer software
2, Furniture
3, Computer & printer
4, Airconditioner
5, Multi Functional Printer
6, Water Dispenser
7, Steel Magazine stand
8, UPS
9, Microwave oven & Fridge

Experts kindly reply how to calculate depreciation and its percentage for each item as I am doing Accounts finalization for the first time.

Hi All
Our organization received an amount a year back as a lum sum amount. we deposited service tax @12.36 on it (by applying concept of grossing up). We did not generate the invoice at that time.
In current year we issued the invoice for the whole amount with service tax @14% and Swach Bharat cess @0.5% the client deducted the amount paid earlier and paid rest amount. information below may help you.

Amount received in 2014-15 1,00,000/- journal entries made as below
bank Dr 90,000
TDS 10,000
To Party 89,000
To Service tax @12% 10,680
To Cess 2% 213
To SHEC1% 107

Now we issued invoice as under

Service charge 2,00,000
Service Tax @14% 28,000
Swach bharat cess 1000
TOTAL 2,29,000

The client made the payment as 2,29,000 - 1,00,000 = 1,29,000 - 12,900(TDS) = 1,16,100

How to incorporate this in my books?

on 25 december 2015 i paid Rs. 56000 for Annual General Meeting for 2015-16 which is going to held on 1 June 2016 (fy 2016-17). What entry should i pass on 25 dec 2015 and which year this expense it pertain. My senior partner told me that it pertain to 2015-16 since meeting is for 2015-16 . kindly suggest.........?

Dear expert,

Journal entry for goods in transit -git dr to creditors cr , first whether this entry correct.?Secondly by including git in closing stock we are increasing profit ?

Please reply

please if is is possible could anybody's tell me that how can make monthly P&L account. plz tell me format if any. e mail - opyadav261@gmail.com