Purchased Packing Materials:
Packing Material Rs.5,00,000/-
Add: VAT @ 5% Rs. 25,000/-
Total Rs.5,25,000/-

Total Sales Rs.60,00,000/-
F Form Sales included in above Rs. 30,00,000/-
12.5% Sales Rs. 30,00,000/-
Add: VAT @ 12.5% Rs. 3,75,000/-

Output VAT Rs. 3,75,000/-
Input VAT for Setoff ???????
Retention ???????

Please guide with Calculation...

Dear Sir,
mere company me koi director paisa kisi client se leta hai then wo ya to usme kuchh paise personal expenses me use kar leta hai aur kuchh paise co. ko de deta hai to is case me tally me kya entry karni chahiye.

Car 2012-13

Opening WDV for two cars - 100000
Sold one Car - (50000)
Wdv for sec 32 - 50000
Depreciation @ 15% - 7500

CAR 2013-14

Please Calculate dep for 2013-14

Treatment for Quantum of dep for the car sold in 2012-13

Hi, Myself Ankur Garg n i m working in a recruitment company and want to ask that in FY 2007-08, we have claimed income tax refund around 61 Lacs and around 56 Lacs is showing in 26AS but we recd the refund of Rs. 47 Lacs only, so pls advise us can we claim the balance refund if yes then how?

I have cleared ipcc both group in may 2013. I live in pithampur .I am not getting articleship in indore. give me some name of firm which have need of article.

Is e-payment of professional tax is compulsory. If yes then what is the procedure. Please reply me. thanks in advance

A private company(incorporated in 2011) is dealing in fancy jewellery in india having 2 directors - NRI husband and his Resident wife
Most of the jewellery is purchased from china and gulf
The director (NRI in dubai) often pays for this jewellery directly from his own bank account in the gulf
These purchases are accounted in the companys books by debiting puchases and crediting Directors loan account
Is there any violation of FEMA/ RBI regulations in this?

Loan outstanding is 29 lakhs which consist of pyment for purchases accounted and also transfer from Directors NRE bank account to company bank account for meeting expenses

is there any violation in making payment by the director for the companys purchases?
Is there any maximum period for such loan?
Are funds transferred from NRI directors NRE bank account to company bank account to meet expense in order or is there any FEMA violation in ?

Dear Experts,

Please let me know for registration in direct entry from IPCC on Graduation Or Post Graduation basis the overall Percentage of that will be mentioned or i should mention specific subject wise percentage.

My client have a total income less than income tax slab rs.1,90,000/- . and tds deducted in lic commission rs.15000/- . Penalty app. for efilling afer 31st july?

my company has a hotel in which an event was organized i got a bill which is waiter charges amounting 2550 i want to know in which head of exp it will journalise mean under which head of exp it will shown