For a private limited company, while filing Profession tax returns (maharasthra), a Rs.1000/- late return filing fee was paid. So what will be the journal entry for the same and will it be consider as Indirect expenses?

Also the PTEC of Rs.2,500/- paid for Profession tax will be an indirect expense allowed to be deductable from profit and loss?

A company was charging depreciation on wdv method of income tax in books from year of incorporation. this year it has changed the method of depreciation to straight line method of companies act with retrospective effect. as a result depreciation saved(cr) has been charged to profit and loss account.

My query is (i) whether the deferred tax will be calculated considering differences of depreciation of all the years or difference of current year only.

(ii) whether deferred tax also be calculated on depreciation saved and added back to profit and loss account.

pls reply urgently.

Dear Experts

we have purchased goods from outside state against form C 2% CST RS 1820.00. We have sold goods under output tax VAT Rs 130000 & CST Rs. 97000.Now my query is that can i adjust this input tax Rs 1820.00 against my output tax VAT & CST amount?

How Much Interest is Taxfree ?

Dear Experts,

ABC LTD have a Car purchased 2 years back AND today incurred Rs. 9000 for its new tyre purchase,I want to know that said expenses fall in which category whether it is a revenue expenditure or its a capital nature expenses.



Thanks

what types of exp we can club under group rates and tax I know only one wealth tax ...pls suggest some exp head whcih we account under rates & taxes

sir i cant understand what is the issue in extension of date of filing tax audit report. i have read various articles that income tax audit report cannot be filed before filing the tax audit report. so the extension of only tax audit report is not giving satisfaction to cas plz explain what is the link between tax audit report and income tax audit report. tax audit is applicable to companies, firm whose turnover exceeds 1crore. than what is this income tax audit report and how it is related to extension in date of tax audit report plzzzz explain...

What is the journal entry for capitalization of preliminary expenses?

If it is Preliminary Expenses Dr
To Cash/Bank


What is the logic behind affecting cash/Bank account for the expenses which are incurred before the incorporation of the company?
What if at the time of incorporation of the company, the firm doesn't have a bank account?

we had paid servie tax on tranportation pls let me know where it should be club under group rates and tax or other exp

Dear Sir, A company having only 2 directors and both are additional since 2010. The problem is that they have not been regularised. the question is that are they eligible to sign balance sheet