satyanarayanaraju


{ City } hyderabad
< Country > india
* Profession * tax consultant
User No # 28862
Total Questions Posted # 5
Total Answers Posted # 52

Total Answers Posted for My Questions # 10
Total Views for My Questions # 21752

Users Marked my Answers as Correct # 1034
Users Marked my Answers as Wrong # 213
Answers / { satyanarayanaraju }

Question { 3832 }

plz guide me about study?


Answer

Pl let me know guidance on what study. Pl dont waste in
putting meaningless questions.Utilise the precious time
before you

Is This Answer Correct ?    4 Yes 0 No

Question { 15477 }

My Question is how do we distribute profit in pvt ltd, btwn
directors and share holders...the pvt ltd is unregistered.


Answer

Who told you the private ltd unregistered. before putting
question pl think once

Is This Answer Correct ?    13 Yes 1 No


Question { 3776 }

even if trial balance matches there could be error explain?


Answer

Even if Trail balanced tallies ther could be scope for
errors . trail balance helps us to know the arthimatical
accuaracy of the books of accounts. There is every scope
for Errors of principle,Errors of commission Compensating
errors those can be detected only thru thorough audit

Is This Answer Correct ?    5 Yes 1 No

Question { 6575 }

Wat is HRA? How it caculated?


Answer

HRA house rent allowance which is given by the employer to
teh employee to meet the rent of his residence. But some
portion of allowance will be exempted from taxable income
basing on the below rule
1.Actual HRA
2.Rent paid -10% of salary
3.50% of salary in case of metro cities and 40% of salary
in other places.
The least of the three will be exempted from taxable income

Is This Answer Correct ?    14 Yes 1 No

Question { Allianz, 5498 }

what is difference between private firm and partnership firm?


Answer

Pl confirm your question and put the question. I am not
understanding what and why you are asking

Is This Answer Correct ?    6 Yes 3 No

Question { 2644 }

could you please suggest an institute for classes in
accountancy near punjagutta?


Answer

I am sincerly advicing you not to join any of the
institutions to learn accountancy.You will loose not only
money but also valuable time.Try to learn practcal
accountancy thru experienced accountant which help you a lot

Is This Answer Correct ?    2 Yes 0 No

Question { 6250 }

What is dishonor check?


Answer

Those cheques which are not cleared due to insufficient
funds,defect in signature,timebarred

Is This Answer Correct ?    4 Yes 0 No

Question { HSBC, 14058 }

what are the basic 3 rules of accounting


Answer

the three rules of accounting are
Personal accounts-debitthe receiver from the business
credit the giver to the business
real accounts-debit what comes into the business credit -
what goes out of the business
nominal accounts-debitall expenses and losses of the
business credit-allincomea and gains of the business we
must use business related things for clarity

Is This Answer Correct ?    9 Yes 2 No

Question { 4744 }

plz tell what is current rate of depriciation as per income
tax .


Answer

Machinery,Vehicles---15%
Office Furniture------10%
Computors-------------60%
Idf the inward entry is below 180 days You have to claim
Only 50% of the above rates

Is This Answer Correct ?    7 Yes 1 No

Question { Hindalco, 14177 }

give narration of cash----a/c---Dr To cash


Answer

When cash comes into business it will be debited
When cash goes out from business it will be credited

Is This Answer Correct ?    19 Yes 5 No

Question { HDFC, 8839 }

why closing balance do not come in trial balance?if it is in
which case it comes?


Answer

All closing ledger balances will be placed in trial balance
But closing balance of stocks will not be placed here. It
is an adjustment entry which will be passed in the year end
by taking the physical balance valued at the least price of
market or purchase price into consideration

Is This Answer Correct ?    18 Yes 0 No

Question { State Bank Of India SBI, 53297 }

What Entries come under Bank OCC A/c. & Bank OD A/c. ?


Answer

Bank OCC-Open Cash Credit
Bank Od-Over draft
Both are loan accounts
Always Bank OCC or OD accounts shows Credit Balance
Bank current account will always show Debit Balance
You will come across Interest on loan account in Loan
account and where as you will not find such entry

Is This Answer Correct ?    160 Yes 12 No

Question { IBM, 46931 }

what is the journal entry?
goods purchased by ram on credit for 1000 which includes
vat rs.100 in it


Answer

Dr Purchase of goods A/c---900
Dr Vat input A/c 100
Cr Suppliers A/c 1000
(Being goods purchase which is inclusive of vat tax)

Is This Answer Correct ?    23 Yes 6 No

Question { 3911 }

TDS Reimbursment?
Iam 2 tipper owned small transporter and TDS diduct in my
transport bills. can any body tell me how can i reimburse
my TDS and what are the procedure for reimbursment and what
are forms, papers to be required, tell me please.


Answer

Under Estimated Income Scheme You can compute your annual
income as Rs 84000/-as calculated @Rs 3500/- per each
tipper per month.You can get back the total TDS by filing
your tax return before the income tax authorities before
31st July 2009.More over you can escape legally from TDs
deduction by filing form no.13with a request for non
deduction of Tds explaining yourself as your below taxable
limit of Rs 150000

Is This Answer Correct ?    5 Yes 0 No

Question { 19709 }

what is the lat date of tds deposit for march 2009
ASSESSMENT YEAR 2009-10











Answer

Where the tax has been deducted on the last day of the
financial year a period of two months is allowed for
deposit of TDS

Is This Answer Correct ?    39 Yes 7 No

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