Hi All,

I have a query as to validity of the following accounting entry which is made in regard to purchase of service.

Expense A/c Dr (Amount of invoice)
Party A/c Cr (Balancing figure)
Service Tax Cr (invoice amount*75%*12.36%)
Tds payable Cr (10% of invoice amount)

My query is whether service tax payable as shown in this entry correct?
The amount of service tax as booked in the invoice is only 25% of the actual expense.
Also,in this entry no cenvat credit has been taken of such 25% Service tax as shown in the invoice.


Thanks in advance

sir my uncle has received interest of Rs. 300000 from a bank and paid interest of Rs. 200000 on loan to the same bank so his net income of interest is 100000(300000-200000).Now my query is this that can he submite form no. 15H to the bank for the Assesment year 2012-13.

Hello,
Sir i send my registration form of Articleship to Chennai by this 22nd day of september 2012. But till now i didn't get any acknowledgemnt or student's journal or etc., how can i get clarification on this. Please suggest me.

dear, if my net profit more than 8% than can i prepair return ITR-4s?
for EXM. suppose my turnover 15,00,000 and i show net profit 140000 (as per 8% my profit 120000). i show my profit more than 8%.
can department ask me i show profit more than 8% it indirectly i prepaired books of account. can department raise notice for checking books of account.
my actual doubt is can i show profit more than 8%.

Hi,

I would like to make a payment of $2,200 to a firm in Canada for their services taken. This is a personal expenditure.

Wanted to know if I can make them the payment through Credit Card?

If I make them a payment through Telegraphic Transfer, Bank requires me to submit Form 15CA and 15CB certififed by a CA.

Will there be any TDS in my case? If yes, what is the amount or percentage of TDS deducted in my case?

Thanks

PLZ HELP ME:WHETHER TDS IS APPLICABLE ON DUE BASIS OR PAYMENT BASIS? WHICH ONE IS CORRECT?

What is the difference between cooperative society and cooperative banks???

Dear sir
actually i am working in a service sector my company people are importing some goods and they are paying special additional duty on them the thing is, they are using the goods in the services what they are providing, and there is no resale and they are paying VAT on the goods, whether the company can claim refund of sad or the company can avail the sad as input credit against service tax payable by them. if both the options are not possible what is the better treatment for sad, if they charge it on service the cost of services will be more it will effect the company. So please tell me the solution for my problem as early as possible

hi. to all experts
sir pls let me know the maximum amount of deduction of tution fees of childerns is allowed u/s 80c of income tax act
om sai ram

rate of wealth tax...............