Actually TDS @2% is to be deducted by company while paying amount towards advertisement expenses if it exceeds Rs.30000.
The amount Rs.30000 is paying amount or Bill Amount
Tell me that Bill amount is Rs.28500
Service Tax @ 15% is Rs.4275
total Amount is Rs.28500+4275=32775 whether TDS is to be deducted or not
Please clarify my doubt sir

Dear Sir/Madam,
Had a query which needs to be confirmed about Profession tax.
Person "A" is a salaried person and his profession tax is cut Rs.2,500/- as per the regular rules.
Further, Person "A" is also a Director in a company and has a PTEC number.So I suppose "A" will have to pay profession tax under PTEC also.
One of my friends said that when his PT is deducted from salary which means he is paying to the Govt Rs.2,500/- therefore he is not liable to pay PTEC again.Kindly confirm.
Thanks and regards..

Dear Experts
I have purchased the goods i.e.
100 Goods value
5 Vat
total bill amount 105/-
however since it was sales invoice therefore i am not eligible for ITC.
Pls tell me what will be the accounting entry if No ITC allowable,

Regards
Karan

I failed to fill the EPF return for the month of november which become due in december.
So now i want to fill the same please tell me the late fees / interest regarding the above issue

Hi,
I have a trading company with 5 branches in Delhi and one head office. All the sales receipts in these branches are either in cash or credit card. All the sales receipts are then remitted to the head office. We use Tally ERP 9 as the accounting software. usually the sales receipts are remitted to the head office on a daily basis. I would like to know a suitable way to account for the remittances in the books of the branch as well as in the books of the head office.
It would be great if you could suggest me a suitable accounting entry, so that the books reflect a correct picture of the accounts. Please ignore stock transfers.

Thanks!

I am a individual and having a proprietorship firm . TIN No is taken in the name of proprietorship firm
.my question is whether i am liable for professional tax in individual capacity or proprietorship firm or both . ?
Jharkhand professional tax

I have some old ₹500 notes. I have kept it aside in 2015 to be spent on trip to Temple. It is my practice to keep some amount aside to God and will use it whenever I go to temple. Just now I discovered such old notes. It amounts to ₹8500. Is there any possibility of exexanging such notes.

Hi, Experts

I had incorporated a new trading & services pvt. ltd. company and had recruited 15 employees having gross salary between 6.5k to 11k and five employees 12k to 53k
Please tell me how can I divide the salary i to basic, hra, ta da etc. and also tell me that the said company is liable to deduct ESI & PF of all the employees.
Kindly help me out of this.
Thanks in advance.
Sunil Arora

Hi,


I am asking, If Company paid to referral charges to doctor. in which head cover referral charges and what procedure should be followed by us.

Hello All,

The Govt introduced Equalization levy on Advertizement Service received from Foreign Resident. Since Foreign entity does not allow you to deduct any amount from the service charge or mention it in the contract that all local taxes and fee shall be born by the service receiver.

So the receiver needs to deposit 6% equalisation levy from his own pocket. The foreign entity issues the receipt/bill for the amount it receives.

The problems are: -

1)How to treat it in the books of account?

2) Since we are not deducting said levy from the service charge, will it be allowed as an expense under IT Act?

3) How should it be calculated i.e. straightly applying 6% on said service charge or applying the concept of grossing up? (although there is a problem with grossing up concept which is, the amount mentioned in the bill/receipt.)