Experts,
The entry of Purchases is:
purchases dr.100
to creditor 100

AT the Time of Payment:
Creditor a/c dr.100
to bank a/c 90
to Tds A/c 10


Is this entry is also correct:
Purchases dr.100
to creditor 90
to tds payable 10


at the time of payment

Creditor a/c dr. 90
to bank a/c 90



Please explain which entry is appropriate as both gives same impact OR any other reasons.

Experts,

There is a co-operative society, and there is no property in the name of the society, it only collects maintenance charges from the members and takes care of all maintenance etc. expenses.

It spends big amount on building repair (main gate of society, parking area etc.) of Rs.3,00,000 (3 lacs) and on bird net Rs.50,000.

My question is, should this expenditure be treated as revenue exp. or it should be capitalized.

According to my view it should not be capitalized, as there is no fixed asset in the name of the society.

Please reply.


Thanks in advance.

Dear Sir/Madam,
I am In direct entry scheme. I am in 1st year of articleship. My 1st year of articleship is completed on november 2014. and i am not compeleted my GMCS 1. and my IPCC attamp is on nov 2014 and thers no batch available for GMCS its almost full. And if i am comeleted GMCS after 1st year of articleship So what will be the cause?? please tell me.

a CA doing job can he also be a director of a company

I HAVE LET OUT TWO WAREHOUSE TO APMC COMMITTE FOR RS 2 LAKHS EACH TO STORE MAIZE I WISH TO WHETHER I SHOULD COLLECT SERVICE TAX ON RENT PAID BY APMC COMMITTE APMC STANDS FOR AGRICULTURAL PRODUCE MARKETING COMMITTEE ESTABLISHED UNDER A ACT OF KARNATAKA TO PROCTECT THE INTEREST OF FARMERS. IT MAIN DUTY IS TO PROCURE REGULATE AND STORE AGRICULTURAL COMMIDITY LIKE PADDY MAIZE WHEAT ETC

In ROC new forms as per companies act 2013, certificate of practice number is a mandatory field. what is the certificate of practice number mean? Is firm registration number can be used as certificate of practice number ? or is membership no of CA can be used as a certificate of practice number ?
Pl help me with your valuable answers and guidlines.

Dear Experts,

We have deposited TDS in wrong a.y. 2014-15 instead of a.y. 2015-16 for April-2014.

Can we use this challan in Ist Qtr. return or we have to write a request to A.O.

Below link indicate that no importance of a.y.

http://www.simpletaxindia.net/2013/09/deductor-can-adjust-excess-tds-in-next.html

Please advise.

I am getting error in the preparation of TDS return for Q-4.
Error message is "T-FV-408 Invalid "Total TDS by the current employer" (aggregate of the amount in column 323 of Annexure I)

However, this column is auto filed. I have not done anything in that.

Has someone faced same problem. Grateful for advice.

sir i hav registered for cpt and got the registration number.... now do i hav to fill any other form to give cpt exam in june 2014

Dear Sir/Madam

whether the tax rate of long term/short term will included in overall income slab of a individual or will it taxed seperately.

For instance if a person having income of 1,00,000/- for AY : 2014-15 and he has long term capital gains of 50,000/- now the overall income is 1,50,000/-...

Whether his income taxable irrespective of slab system..