Dear Experts,

While passing accounting entries, net salary received is considered as income. Also is pt,income tax & employees pf is considered as income?Foll entries:

Bank a/c dr
To salary Net Salary recd

PF(Employees contri) a/c Dr
PT Dr
TDS Dr
To salary

Are these entries correct??

Also what abt employers contribution to pf and pension fund...can we pass foll entry:

PF Dr
Pension fund Dr
To Capital

Dear colleagues,
I have a query regarding capital gain on ancestral gold/ornaments
a)If I receive any ancestral gold what will be its tax treatment?
b)If its under ltcg what will be criteria for indexation?
c)Whether benefit of Section 54 can be availed for this?

Thanks in advance.

we are Importer and exporter for that we are taking service from CFA agent for clearing where he is issuing invoice along with Duty paid Handling fees paid and other reembershment no separate bills for re-embershment is given by the CFA agent so what is amount for TDS

if finance is raised by issuing additional equity shares, then does it need to be specifically disclosed to the shareholders regarding where THAT SUM RAISED in particular, will be invested ?

Dear Experts

Please tell me one of the client starting a business designing of Pamphlet, cards, boaters, banner giving to printer after printing he raising invoice to his customer in invoice he want to collect VAT?, Service Tax?, or Both or WCT.

Sir/Madam,
I have left the company 8 months back after working there for 6 years .I know that I am eligible to get the gratuity, but what I want to know is whether I should apply for my gratuity within some limited period is elapsed or I might not get the gratuity at all.Can I loose this money if I do not apply within 1 years of leaving my job?
Please reply soon , I am eagerly waiting for your reply.

Thank you very much.

Can anyone suggest me a BOOK for COST ACCOUNTING and FINANCIAL MANAGEMENT for IPCC-1? The book should be able to clear my concepts and should be written in easy language which can be easily undersrood. Thank You

A boundary wall is constructed on rented property, involving expenditure of Rs. 10.00 Lacs. Can this expenditure be capitalised in books of accounts??

Dear Experts
Ysterday I recive from my portfolio manager net loss on share intraday transaction...Since it is short term and I donot have any other Capital gain to get it Setoff.
This is not an issue but what is annoying that there is nowhere in ITR where I can put this loss amount and carry it forward!!!!

Kindly help me asap!!!!

I had purchased a flat in March 2005 and have sold it in April 2013. Flat was in my and my wife's joint name. Total LTCG is about Rs.1 crore. That we can either reinvest in a residential property within 2/3 years or in Sec 54EC bonds within 6 months is clear (if we want to save tax on LTCG amount). Questions are:
1. If we intend reinvesting in a new flat from a builder, when is the latest we are obliged to deposit the amount in Capital Gains Account Scheme (CGAS) account? Is it 31.07.2014 or earlier?
2. Supposing we buy a new flat then are we required to route all the amount through CGAS account or only the residual amount of LTCG as on 31.7.14 (or whichever is the latest date for CGAS as per question 1 above)?
3. Supposing new flat possession is scheduled to be handed over after 3 years i.e after April 2016, would only the amount that is paid to builder till April 2016 be eligible for tax exemption?
4. Do we need to declare anything regarding this transaction in our tax returns for AY 2013-14?