Incentive is being paid in advance to the employee and then expenses are being booked accordingly.
One journal entry is being passed:

1.Incentive to employee a/c dr
To TDS on Salary a/c

2.TDs on Salary a/c dr
To Bank a/c

Is the above entry proper as per the accounting standards and income tax?

I have received a summon from the income tax department under section 131(1)/(1A)/37/36. They are asking me to submit the detail of investment and source thereof in bitcoins for the past 6 years. I have not been working for the last 3-4 years and my family is supporting me. I am not sure what to do in this case. Can someone help please.

Thanks,

Hello sir,
I am a cost article and I am doing internal audit of a manufacturing industry on particulars points so please suggest me on followings points;

Related party transaction of Semi-finished foods, raw material consumed and bought of product.
Transfer pricing

There is a hospital running under the trust registered u/s 12AA of income tax act.have some cash payment for amount exceeding 10000.is section 40a(3) applies to it?if Yes,then what actions to be taken as an auditor?

Hello, an Auditor missed a disclosure on SBN Notes ammended vide notification number gsr 308(e) on 30th march 2017, under the Companies Act, 2013 notified by MCA. The Financials and audit reports have already been filed for all the companies. Can anyone let me know what are the consequences of these and what can be the remedies to rectify the same?

Dear sir,
What is Form-16 and ITR-1 ?

Can anyone provide a sample internal audit report for Toll company or atleast a checklist for vouching the accuracy of toll revenue ?

Dear experts please clarify me that interest on taxes like GST or Income Tax and late fee over filing return late does comes in general expenses of the firm or not? Can we show it as indirect expense in the book as interest incurred on Tax or Late Fee over filing return late or is it of some other nature?

Plz answer
Thanks in advance.

My proprietorship business turnover in FY 2016-17 is Rs. 90 lacs and profit is Rs 4.5 Lacs (5%). Is tax audit applicable? if yes please clear the clause under which it is applicable with reasons. Thanks in advance.

If A is a statutory auditor of a company named X, can he act as an internal auditor of company Y which is an associate company of X.

Please quote the corresponding section of the act to your opinion