DEAR SIR, my query is following -credit sale made to a debtor.being payment due from long time period ,a provision was created. later on recovered from debtor. what will be accounting enries in all such cases. what will be entry of provision reversal. will it be adjusted against our co.'s income.
thanks in advance.

My company (we are a manufacturer of Industry Filters) sends various products for welding and Zinc Plating to other small companies. These companies do not provide us with any bills of the job work.

Does my company have to pay service tax for the same?

What are other things should I keep in my mind for such things. Do I have to submit any documents for this?
Also kindly provide me details with respect to sales Tax.

could anyone plz clarify as to what are the changes in portion for Nov 14 final attempt in audit n financial reporting? its not stated in icai circular (attached herewith)

should I include previos year bill payment in thrashhold limit Rs 75000

Let 60000 paid for previous year billing will it include in Rs 75000 limit

Dear Sir/Madam,

I have a query regarding service tax payable under reverse charge mechanism.

We have a contract with a cab service provider (Proprietary concern) for employees pick and drop facility effective Sep-2012. The service provider has raised the monthly bills for the period Sep-12 to Aug-13 with service tax charged in the bill @ 4.94%. From Sep-13 service provider stopped charging service tax in his bills. But we started paying service tax @ 4.94 under reverse charge effective Sep-13.

Now my questions are:
1. Since we have paid the entire amount including service tax charged in bill to service provider till Aug-13, do we need to pay any amount under reverse charge?

2. Since service provider has not charged service tax in his bill on and after Sep-13 and we paid the the tax @ 4.94 under reverse charge, is it correct?

Please advise

Sir,

The assessee ( Domestic Company) holding the Agricultural Land from 2008 and showing the asset in Fixed Asset Schedule as Capital Assets. The Company is also making the profits by doing the agricultural activities. The land is situated 8 km away from the Municipal Limits and having more than 10 Lakhs population of the municipality.

Sir, during the Asst. Year 2014-15, the Company sold the agricultural land to the different individual assessess and earned the profit on the sale.

Sir, kindly let me know, whether the gain on sale of Agricultural Land is taxable or not? If not, kindly provide me, under the which section the capital gain is exempt.

With regards
Ramesh

on what amount TDS should be deducted if limit crossed Rs. 75000 but one time payment is less than Rs.30000

Let payment is made to party in whole year amounted Rs. 100000 but invoice in the whole is less than 300000 should i deduct on Rs. 100000 os at invoice amount

Hello All!

I'm a newbie here, and i have a query on TDS.

For example:

A Limited company "A" has a Distributor "D" and an Agent "R" in a district.

Here "A" is supposed to pay a commission to "D" and "R" every month.

"A" routes the complete commission of "D" & "R" thru "D"s account only. Which means "R" gets its commission thru "D" every month.

"A" pays the TDS of the complete commission into "D"s PAN. Now how will "D" share or transfer the TDS of "R" to his(R) account?

Pls help me

Regards,
Siva

I m deciding to refer the following author's books plz suggest whether the same are appropriate for CA final 2014 Nov

Accounting Standards - DS Ravat
SFM - Shridhar
Audit - Paduka
Law - Munish bhandary Main Book
Direct Tax - Singhania

Plz letme knw whether the same are good

Thanks in advance

For Financial statement prepared for the year ended December,2012. whether Revised Schedule VI is applicable or not ???