I have made an investment of Rs. 236,945/- on 06-Mar-04 in Jeevan bhima Nivesh and
this has been entered in Tally at that time as investment.
The policy has since matured and how do I go about in accounting the same in Tally.
For now I had posted it as "Receipt" and the entries are as under

Jeevan Bhima Nivesh = 236,945
Cash = Rs. 472,712
Jeevan Bhima Nivesh-Bonus/Interest accrued = 235,767/-
(I created this heading under income/ indirect)
Please let me know the correct heading this has to created in)

and in the drawings:
Drawings: Rs. 472,712
cash = Rs. 472,712/-
since I had completely withdrawn this.

now it reports this Rs. 235,767/- as profit from indirect income.

How do I correct/fix this...As you know the it is completely tax free.

I have similar investments like KVP which too has matured this year...

Sir,
i have not received my form 16, hw can i file my return for this assessment year.
pls guide me asap.

The complete proceeds of sale of fixed assets has been utilised for payment/settlement of bank loan. Pl. let me know whether the sale proceeds of fixed assets are subject to capital gains or it is completed exempted as the proceeds are utilised for settling of bank loan.

hello sir, i am in CA final and 3rd year of articleship and my articleship will be completed in 11th august 2014. i am transfer my articleship at bombay because of transfer of my family.. please provide me the name of chartered accountant firms in bombay. thanking you in advance

I am a Final CA Student and have been told that CIMA is one of the best courses to be pursued after CA for better career opportunities. I have not managed to clear my Final CA exam as yet. Can I still appear for CIMA exam? Am I still eligible for the same exemption that a Qualified CA would get? Or will I have to give all the exams? Please help. Thanks in advance for your valuable inputs.

Can my elder brother claim the deduction of tution fees u/s 80C for my tution classess?

hi.. friends..

can any body tell me the procedure of filling Income Tax return of a Pvt. Ltd. co. who is not covered sec. 44AD ( without audit case)


what is the last date for submission of income tax return to the department.


hurry....

should I do cs with ca I m in bcom 2 nd year .will there be any restrictions

Dear Sir,

Normally we take 2% out of 5% as VAT input credit and the Balance 3% is taken as our cost as per the latest amendment dated 11th November 2013 of TN VAT Act.

This month we have an excess VAT Input after adjustment of VAT liability to the extent of Rs.45 K.

Our CST liability is Rs. 1.92 lakh payable (5%). Normally we adjust the excess vat after adjusting vat liability to the CST Liability.

Now the CTO have told us not the adjust the excess VAT against CST liability and demanding to pay the full CST liability. Also he is asking to adjust the excess VAT liability against the VAT for next month.


Kindly advice whether the VAT excess input can be adjusted against CST liability or else we have to go as per CTO.

My mail id is k.karthik.trsc@trsforms.com

Thanks
Regards
k Karthik

tds on professional fees