Beginning Balance, Dec. 31, 20xx Creditable Income Tax 211,829.00 Income Tax Payable (132,808.00) > Balance 79,021.00 ITR (1st Quarter) - Jan. 31, 2016 - Mar. 31, 20xx Normal Tax (30% of Taxable Income) 2,205.02 MCIT (2% of Gross Income) 7,865.71 Aggregate Income Tax Due (Normal Tax vs. MCIT whichever is hihger) 7,865.71 Less: Tax Credits/Payments Prior Years Excess Credits 79,021.00 Creditable Tax Withheld - 79,021.00 Tax Payable, per return (71,155.29) What should be the entry in my book to record the above transactions? Thank you!

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Can we claim rebate of Securities transaction tax (paid on trading in F&O segment of stock market) while paying/calculating Income tax

1 Answers  

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can i adusted our vat credit in W.C.T. payable?

0 Answers   LBC,

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What is Tax Audit ? Brief description please

3 Answers  

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MY QUESTION IS 1. WHAT ARE THE LEDGERS TO BE OPEN FOR TDS 2. WHEN AND TO WHOM I DEDUCT TDS 3. JOURNAL ENTRY FOR ALL TDS TRANSCATION 5. IN TALLY ERP MENTION LEDGER TO BE CREATED UNDER WHAT GROUP 6. THEN ANY OTHER IMPORTANT INFORMATION ABOUT TO CHECK IN TDS

1 Answers  

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How you calculate Personal tax, business tax, income tax, service tax?

2 Answers   APC,

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how to calculate entry tax interest rate 2011-2012 assessment pending amt. is Rs.32000

0 Answers   ABC, ACC,

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if waybill issued by consignor , then c form issue whose responsibility?

0 Answers   Saira Bath Concepts,

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The contractor final bill is 52lac we have calculate 2% tds 104000 so we have which amount paid to contractor

3 Answers  

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What is MAT stands for?

10 Answers   OPI Global,

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is provision for bad and doubtful debts an operating cost?

2 Answers  

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what is the tax that is levied if company crosses 1.5 crores turnover

1 Answers  

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