Dear Experts,

I have a simple basic query for which I ask your advise to resolve

A company purchased a car of Rs. 1500000/- and the TCS of Rs. 15000/- was collected. It is getting reflected in Form 26AS. Besides, the Company also has TDS Receivable which is getting reflected in the Balance Sheet.

My questions :-
1. What will the journal entry to be passed for the TCS entry.?
2. Whether the TCS should be adjusted with TDS Receivable A/c?
3. Is TCS an asset or Liability?

Please suggest.
Thanks

Hi Professionals,

I really need advice - My articleship started on 2012 when I was pursuing B.com which I informed institute along with my articleship registration form then I enrolled for CS in Feb 2013 and didn't inform institute because I didn't knew about that then my B.com ended on March 2013.

My problem is I am a qualified CA now and appearing for CS professional in June'2018 can you please let me know what is required now in order to avoid any penalty or corrective order.

we have a unregistered charitable trust. (NOT REGISTERED UNDER 12AA). main purpose is to fund education of children using donations received. kindly help us with the following queries :

1. which ITR should be filed ITR-5 or ITR-7 ?

2. is CORPUS Donation taxable ?

3. since an unregistered trust is treated as AOP , can the donations received and spent be treated as "PROFIT OR GAINS FROM BUSINESS OR PROFESSION" head ?

Sir, please help me that am an article student cleared first group entered through CPT Route.I am planning to take a termination for 6 months in articleship due to some health issues.So will I be able to write ipcc second group coming examz or attempts?
Please kindly give me a reply sir.

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how many i deduct the tds

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Can internal auditor demands working papers(prepared by the accountant) from the employee of the company.The Case is that the accountant has provided all the information and explanation that is demanded by the Internal Auditor but the Internal Auditor also demanding the workings formats (Excel Sheets and Handmade working of the accountant) of the accountant for his documentation.Can he demand so? Because he Intends to use that working formats for himself in other engagements.Actually I am dealing with the Internal Auditor who is demanding my working formats that i had prepared for me and I dont want to provide the same to the auditor.However I had provided all the necessary informations and explanations to the Internal auditor.plz provide your valuable suggestions.

Dear Sir,

Please Confirm the Following;
Medical Profession is opting 44ADA and declare 50% of Income. Further he invest U/s 80C towards LIC Premium Tuition Fee for 2 Children My query is whether he is eligible u/s 80C. Thanks in Advance

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i have to file the return of salaried person who retired in FY 2017-2018. please provide the specific provision to be considered regarding PF ,gratuty, and extra retirement benefits and how to deal with it while filing the return. thanx in advance