Entry For Finalization Of Accounts

Sanjivkumar Shah (Account Manager) (286 Points)

13 December 2007  

Its Urgent Sir, Please Guide Me, What Entry Are Required For Finalization Of Accounts, If Accounts Is Of Proprietory Concern with following Statutory Information :-

1. Valuation Of Closing Stock At The End Of The Year Tally 9.0 [Method]

2. TDS On Interest Paid. If Deductor Is Proprietor & Deductee Is Company Then At What Rate We Should Deduct TDS [IT + SC + EC + SHEC] ?

3. Can We Issue TDS Certificate To Our Client At The End Of The Year For Full Financial Year Or Can Issue On Quarterly Basis, Half Yearly Basis & Yearly Basis.

4. If Fixed Deposit Is Made On 20th Sept'2007 @ 9.0% In Cumulative Interest Type For 1 Year. Then What Entry Should Be Passed i.e For The Balance Month Of Financial Year  & Remaining In The Next Financial Year & Should We Make Provision For That Remaining Interest ?

5. How & What Are The Provision For Vat, Income Tax, Etc ........ 

Regards.