can u tell me about discount? which one method of the following is more usefull.
if gross salse is 100
Less :- discount 4
Net sales 96
Vat @4% 3.84
Gross sales 99.84

OR
if gross salse is 100
Vat @4% 4
Net sales 104
Discount 4
Gross sales 100

What is position of TDS (accounting entries)if the bill is passed on which tds was there after 31 may that is the last day for submission of Tax deducted for 31/3/2009? I there any penality in Income tax for this

SIR,

AN INDIVIDUAL ASSESSEE RETURN FILING LAST DATE JULY OF EVERY YEAR BUT AN INDIVIDUAL ASSESSEE PARTNER IN A PARTNERSHIP FIRM HIS FILING DUE DATE IS WHAT ITS JULY OR SEPT PLEASE TELL AN RULE IN THIS CASE. THANKS IN ADVANCE

Do the bank give confirmation for fixed deposit held as on 31.03.2009.please reply as soon as possible

Dear sir/Mam

We purchade A DG set of amount 1.22 crore date 14-05-09.and we running (put to use) to it 20-06-09. know my qutation which date we start depreciation by SLM methoed.

Vishnu Aggarwal
9971294488

we are not managing the stock register daily production wise
we are prepraing it by despatch wise we are taking the one entry for input from production and taking one entry for despatach accordingly
we are not updating the daily stock status

is it the right process according to the excise to take the one total entry in the stock register for the one shipment from the production when we received the whole quantity from the production and taking the despatch entry when we despatch it
or it is mandetory to update the register daily production wise

pls advise

Section 40A(3)before amendment said that "Any payment exceeding Rs 20000 and made in cash on a single invoice on a single day will be disallowed for deductions"

However, with effect from april 1, 2009 the word "Aggregate" has been added to avoid splitting of cash payments.

My question is that if an assessee made cash payments exceeding Rs. 20000 on a single day to a contractor (in the year 2004-05)but receipts were taken by the assessee on split amounts...then will the exenditure be disallowed???
Wat contention shoud the assessee give to avoid this disallowance?

Can anyone provide me with some case laws on this issue.

1. Can we change the method of accounting from Cash based to accural based. If yes, do we need prior approval from the income tax authorities or do we need to inform them about the changes.

2. Can the books kept on the cash based accounting be assessed under accural based accounting by the assessing officer.

3. Do we have to deduct TDS for the expenditure accured but not paid during the year under cash based accounting.

Awaiting an earliest reply.

Thank you in advance.

Dear Sir

I got one Transporter bill in which along with Transportation charges Passenger And Goods Tax is charged. The Transporter is saying TDS will not be deducted on Passenger and Goods Tax. Is it right? Is there any cicular for this just like circular for TDS not to be deducted on Service Tax charged on Rent.

Regards
Vishal

Hello Sir/Madam,

IN WHICH SITE I WILL GET THE BASIC GENERAL ENTRIES WITH ANSWER.THAT BOOK SHOULD BE IN PDF FORMAT AVAILABLE ON LINE FREE.

Thanks

Bye Bye

Take Care