TDS on various incomes in AY 2011-2012 was Rs.20110
Against this there was a tax liability of rs.635.
However in AY 11-12 the entry for provision of tax was not passed.As a result the TDS refund for AY 2011-12 continued to stand at Rs.20110

The auditor realised this in AY13-14.

The refund received from bank in Oct 2012 was 20450.
Can the tax provision be recorded now?If yes than how? As an expense?
Would the entry be
Tax (AY 2011-12)Dr 635 {Tax is grouped under expenses}
Bank Dr 20450
To TDS (AY 2011-2012) 20110
To interest on IT Refund 975

Respected Experts....


We are receiving a in statue in India to be given as a gift india itself.

In order to avoid the duty, whether any exemption or notification is available to us as we are an international research organisation.

Please advise..

We have a factory where we perform manufacturing as well as trading but however our manufacturing is less then the prescribed limit of exemption under central excise act and our total turnover has crossed the limit of rs 4 crore i.e 50 lakhs is of manufacturing and 3.5 is of trading. So whether we are liable for registration under central excise act as per excise rules...... Kindly clarify me this its urgent

If a company while filing its ITR, made an error regarding calculation of Depreciation in book. I.e it changed its method and rate of depreciation what are the consequences? how can it rectify the same?

If a company fails to calculate depreciation for one A.Y. what are the consequences?
How it should rectify the same?

Dear Expert,
For taking an EPCG licence we have to apply online or offline also.
Kindly confirm me.
Thanks and regards,
R.Dutta

Dear sir,

if any vendor charged us rs. 1124/- including service tax & same we have to recover from our customer then how we will charge them? with service tax or without service tax? i mean Rs. 1124 as it is or only Rs. 1000/-

Dear Sir,

Can you please advised about preparation of Costing, Income Tax & IT & SM paper for IPC.

The study material is suffice or refer good book if needed. Also suggest specific suggestion for preparation for costing.

Thanks & Regards,
Diwakar Mishra

WHETHER FORM 23 IS REQD TO BE FILED IN CASE OF ALLOTMENT OF SHARES AT FACE VALUE?
WHEN FORM 23 IS REQD TO BE FILED?
WHAT IS THE PROCEDURE FOR ALLOTMENT OF SHARES AT FACE VALUE?
ALL THE QUERIES RELATE PVT LTD COMPANY

If advance salary is paid to a director then how will the TDS under sec 192 be calculated & deducted on the same?