Respected Sir
Im Supratim Ghosh from kolkata.
Sir I want to know the journal entries when TDS will deducted from salary and wnat to know the journal entry for outstanding salary.
With example.
Sir pl send me the right ans as soon as possible.
Regards Supratim Ghosh

The input puchased form overseas supplier was rejected & there is planto eturn the same through reexport.The import payment is already made for that invoice.What are the docs needed for reexport.
How to save the duty while reexportin the rejection,as duty already paid during import.Is excise inspection required or the isnpection at custom is required.whether commervial or non commercial invocie to be issued.

Dear Friends,

G A V of Building and land appurtenant thereto is taxed under this head. Please clarify the following:

1. An assessee took a loan for purchase of land (say, one acre)and later constructed a HP. For this HP he took another loan.
Now how much deduction is allowed under section 24(b) ?


2.For a self occupied property, a loan is taken before or on or after 1.4.99 for renovation. Another loan is taken after 1.4.99 and conditions are satisfied to claim enhanced deduction of Rs 1,50,000.
How much amount the assessee can claim as deduction in respect to Interest on Loan ?

Hi,

I wanted to know whether in the case stated below tax audit u/s 44 AB is mandatory or not ??

Mr. X has a trading business with turnover of 50 lakhs. He maintains proper books of a/c. Mr. X wants to file his return of income in ITR-4 form (not in ITR-4S i.e. he is not opting for sec 44AD). He wants to show his Net Profit at 3 Lakhs (which is less than 8% of the turnover). Is Mr. X required to get his books of account audited ??

Sir,

I have never submitted wealth tax return till the date but after examination of my balance sheet i found that applicability of wealth tax return liability stands from FY 2004-05. So I request you to please give suggestion to file the wealth tax return from FY 2004-05.

Can the financials be changed after the adoption of financials in a board meeting?
Revert ASAP

we are in receipt of service tax notice prescribing for payment of penalty for non filing of return? my question is that
If value of service is below threshold limit then is it necessary to pay the service tax & file service tax return for the same year?
If penalty is imposed for the same reason the n is there any sufficient grounds or provisions to waive that penalty under service tax act?
Please guide me.

I have a query on claiming deduction u/s 24 and 80C of IT act

Suppose I have taken a housing loan which is on joint name of me and my wife. EMi is being paid by me only but my wife is also earning. My Salary is 35000/month and my wife's salary is 25000/month.
Principal paid udring the year is 125000
and interest paid is 140000.

Questions
1. Can I and my wife both claim an expemtion u/s 24 & 80.
2. if yes, Can I and my wife claim 150k each or that will be subject to maximum of interest due in a year
3. What would be the deduction under sec 24 & 80C for me and my wife

sir,

suppose, when i sale a goods i charge freight charges . so, if the builty amount exceeds Rs.75000 so can i deduct T.D.S on freight party(if registered)
. But in law i read that T.D.S IS NOT DEDUCTED ON transportation

Is reserve on amalgamation ,revaluation reserve and capital redemption reserve are considered for calculation of net worth of a company.