Plz advise

Efiling 508 views 4 replies

1.Earlier we use to fill manual itr 6 on paper and then copy same data into incometaxefiling software.Now we have efiling of companies mandatory.(no manual itr6 available) Now how to fill data into efiling site correctly without any typing errors.Any remedy.If we take printout then it will take  12 to 13 printed pages for each company.

2.How to know from purchase bill whether it is cash purchase or credit purchase?

3.In doing bank reconciliation in tally at end of sheet we come across 3 terms- amount as per company's books,amount not reflected in bank and balance as per bank.which one of thse totals should match with bank statement total? what is significance of other 2  terms,

4.How to treat work contract tax in st 3 return as abatement-how much percentage of value?

5.A loan statement given by a client with its schedule.what treament in tally for it?

PLZ ADVISE

Replies (4)

1. you can take a print out of ITR-6 and fill in the details handwritten. After verifying the correctness, you can then fill in the details in the excel ITR-6  copying from the previously filled ITR-6 and upload the generated file.

 

2. Cash purchase means cash paid at the time of purchase. Credit purchase is payment made at a later date. View creditor outstanding or creditor statment in tally. 

 

3. A company records transactions as and well occurs. If a cheque is issued, the company will record the payment at the time of issuing of cheque. The cheque given to the payee will deposit to the cheque in the bank, and bank will send the details to the clearing house where debit/credit will take place in the respective accounts. This process takes time. Especially when there is the end of the month say 29th July a cheque has been issued and recorded. The cheque will be cleared on 1st or 2nd of august. So this cheque will not reflect in the bank statement for the month of july. In order to reconcile, to get a true picture of the company's account vis-a-vis bank, bank reconciliation is done.

 

4. I don't know

 

5. If the loan has been taken by the company, then it will show in liabilities side - unsecured loan or loan from Mr X ledger, or current liabilities, etc.

2.If i have to maintain account of client and client gives me purchse bills.From those bills how to know which bill is for cash purchase which bill is for credit purchase?

3.What  we have  to do in bank reconciliation of amount not reflected in bank.(shown at end of tally)

5.For loan ,what journal entries we have to pass in tally, on the basis of loan schedule given?

5. Dr Interest, Dr Loan a/c (towards principal portion), Cr Bank a/c (for repayment of EMI). u will pass above entry in tally as per schedule of loan repayment only when a particular instalment becomes due and not all at once
2. on top of the bill u will find cash/credit. and if it is cash purchase, credit is striked off and if it is credit bill, cash is striked off


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