Experts,
Total Gross Amount 682500/-.
Taxable amount Rs. 621425/-
Accordingly Service tax paid 7.2% Rs. 44743/-, EC paid 2% Rs. 895/- & SHE paid 1% Rs. 447/-

We have mention abatment notification 26/2002 & sl no. 6 and also taxable amount shown 12.36%.

Amount comes 12% Rs. 74571/-, 2% Rs. 1491/- & 1% Rs. 746/-.

When we click validate Return & Generate XML file folloing message shows:

"Do you want to submit return and generate the XML with following errors:

Service Tax payable (Rs. 74571) does not match with the Tax paid (Rs. 44743)

EDU Cess payable (rs. 1491) does not match with the Tax paid (Rs. 895)

SHE Cess payable (Rs. 746) does not match with the Tax paid (Rs. 447)"

Should we click yes & generate XML FILE?

Please reply urgently.

Please see if the entry is correct or not?

1/ Depreciation A/c Dr. xxxx -
To Provision for dep. - xxxx

2/ Profit & loss A/c Dr. xxxx -
To Depreciation - xxxx

3/ Provision for Dep. Dr. xxxx -
To Dep. reserve fund - xxxx

Please revert..

Is it compulsory for the private companies to transfer the profit to general reserve each year.

Please reply..

our company had been purchase a machinery in haryan . company charge 5% vat on capital goods.machine value :-235158 5% vat:-11758.

we can claim 5% vat.

please clear the vat amount credit.
please suggest me.


thanking you.

how many years we can claim the carry forward loss?

Cash sales for the yr were 10 lakhs and sales on account 12 L(lakhs).

Payments on accounts payable for inventory totaled 7.8L.

Collection against accounts recb were 7.6L

Rent paid in cash 2.2L,o/s rent being 0.20L

4L equity sh of rs 10 par issued 48L

Equipments was purchased for cash 16.8L

divd amountg to 10L was declared but yet to be paid

4L of divd declared in the PY were paid.

equipment having a BV of 1.6L were sold for 2.4L
the cash account was increased by 37.2L


Cash flow statement under direct method


My answer is 2.8L. just wanted to know how is the formating and is my ans correct.


Thanks in advn.

1. Salary Restructuring

Restructuring your salary may not always be possible. But if your company permits, or if you are on good terms with your HR department, restructuring a few components could reduce your tax liability.
• Opt for food coupons instead of lunch allowances, as they are exempt from tax up to Rs 60,000 per year

If you have filed your IT return electronically (e-filling) in any previous year, is it become mandatory for you to make e- file your return in every following previous year electronically or you can file it manually also ?

Please suggest in this regard and thanks in advance.

i have appear for ipcc in nov 2013 and i also have an idea of company act. The company law in cs executive is too voluminous. how to prioritize the chapters and topic?

Thanks

My client doesnot have PAN of the deductees u/s. 194B...Would the return be valid with no PAN of deductees u/s. 194B