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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where is applicable WCT & what is limitation for applicable it on company.

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Can we get excise and VAT credit form staff welfare goods like shoes, uniform, goggles etc.?

0 Answers   SMTPL,

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what is luxury tax?

7 Answers  

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(I paid TDS through the bank a/c. but i entered wrong TAN no. instead of HYDC04387F I ENTERED HYDCO4378F ,and pl. tell me what can i do and how can i change TAN no.)" in above situvation which i pay the amount credited to our company name then what will i do,file the return or anything to do

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Any body tell me about VAT (Karnataka)shortly because, iam reading vat book but iam not able to understand that. if any body tell me shortly about karnataka vat, retursn, tax collectng, tax payment, CENVAT utilizing etc. pleseeeeee

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what do you mean by tds

6 Answers   Oyster Learning,

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How do you determine as to what TDS has to be deducted from each vendor supplying us the goods and doing labour work?

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If Seller in Delhi deliveres goods above Rs.25,000.00 without form 38 to Haryana,and issues invoice @2% CST without buyer having VAt registration and receives full payment of invoice, whose responsibility is it to pay the difference in taxes wrongly billed by seller?

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Is VAT & CST should be charged at a time on one purchased item? please give more clearity on this issue?

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I we take computer and laptop on rent basis the vendor charge 5% vat bill then we should deduct TDS for them @2% or 1%

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how to adjustent the accounts part of the company and how to calculate vat and gst .kindly answer me sir. my e-mail id is:- dipak92.dip@gmail.com

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