Santosh
04 November 2020 at 11:55

Accounting JV in Tally

Hi,

Can anybody help me on the below:

We have supplied material to customer for rs 103530.00 (98600+4930 GST)and bill has been raised for the same. Whereas the customer has transfered rs 99388.00 after deducting TDS and also GST @2% (i,e 2071.00 TDS & 2071.00 GST). pls help me how to account this in Tally. Also how it should be corrected in GST.

Please suggest me for this....


LAVINA CLETA D'SILVA
04 November 2020 at 11:18

Tax deduction at source

Under what section will be TDS be deducted for payments made to employees on contract basis of 3 months each. The appointment letter says that a sum of consolidated salary is paid and they will be working under the instructions of the branch manager w.r.t their duties and responsibilities and overall control and instructions of the general manager. They are entitled to only one day leave per month. No other benefits are available. They cannot undertake any other employment or personal practice.


SADIA
04 November 2020 at 10:55

Gst paid

Sir,
I had paid gst in excess since my vendors failed to file the gstr 1 within due date..... Now that they have filed it and I am able to claim the itc..... Can I claim the excess gst as refund? Or will the amount be adjusted in subsequent months?


Dikshit Shah
04 November 2020 at 10:40

Adjustment Entry

Dear Sir,

I Have Query About Export Ledger Adjustment . We Have sale Machine In Rs.5,00,000.00 Rawanda (South Africa ) Payment Received Rs.5,20,268.

Please Share Me Detail How Adjust Extra Payment Received Amount In Her Account


RAMESHKUMAR
04 November 2020 at 10:28

Taxation of Gift

One of client received rs.10 lakh by bank transfer as a gift from his brother for sacrificing his partition share of mother's own property .
Here his brother get it whole property in full. But he is sacrifice his 50% share. And his brother gifted rs 10lakhs on behalf of the sacrifice portion.

My query is,
1.Taxability of gift received
2.can gift deed needed or not for this,


MANOHAR P
04 November 2020 at 08:21

TDS APPLICABILITY ON FOREIGN PURCHASE

One of the software trading company purchases software from outside India. Is the company required to deduct TDS on purchase ??. If it will needed, what is the rate and section of TDS ??. The foreign company has PAN Card.
Please guide me.


Daya
04 November 2020 at 01:01

GST input on Hotel rent

My company registered in Delhi and some staff went to Mumbai for official works and stayed for few days
Hotel charges GST as CGST and SGST now my is that , can i claim CGST as input and SGST as a expenses .Please reply.


123456
03 November 2020 at 21:58

TDS on sale of property

sir,

please answer the following questions:-

1) if a US citizen who has a property in India and wants to sell by giving GPA to his cousin, what percentage of TDS , will be deducted by buyer on sale value.

2) if he personally visits India in order to sell his property. what percentage of TDS will be deducted by the buyer at the time of sale . (he has Aadhaar and pan card too)

Thanks in advance.


RAKHESH HN
03 November 2020 at 21:55

TDS

ಮಾನ್ಯರೇ, ಅತಿಥಿ ಉಪನ್ಯಾಸಕರಿಗೆ ಟಿಡಿಎಸ್(TDS) ಅನ್ವಯವಾಗುತ್ತದೆಯೇ? ಅನ್ವಯವಾದರೆ ತಿಂಗಳ ಅಥವಾ ವಾರ್ಷಿಕ ಸಂಭಾವನೆ ಎಷ್ಟಿರಬೇಕು? ಹಾಗೂ ಶೇಕಡಾ ಎಷ್ಟನ್ನು ಕಡಿತಗಳಿಸುತ್ತಾರೆ?


Lakshman murthy
03 November 2020 at 17:37

Car purchase accounting treatment

Dear Sirs,

in last FY-2019-20 our company has bought the car. we have received the invoice for Rs.62,00,000 with below details
1 assessable value 41,33,333,
IGST-11,57,334,
CESS - 909333
again we received one debit note for Rs.71,100 (RTO registration, Handling charges-60,254/- with IGST-10,848/-
Reimbursement for TCS - 62,000/-

Kindly help me out passing entries for the same.



Regards,

Lakshmana





CCI Pro
Follow us


Answer Query