Question { 198382 }

What will be journal entry of provision for income tax in
current year and Adjustment entry in next year

Answer

FOR CURRENT YEAR WHEN PROVISION MADE

(IN P & L APPROCIATION ACCOUNT)

PROFIT & LOSS ACCOUNT DR. .......
TO PROVISION FOR INCOME TAX ACCOUNT ........

FOR NEXT YEAR WHEN PAYMENT MADE.

PROVISION FOR ICOME TAX ACCOUNT DR.
TO BANK ACCOUNT

Question { 7644 }

which amount filling in c form (in invoice) its urgent
basic value of item + excise duty + cst

Answer

this is inv. value =sales central + output cst

Question { DELL, 38903 }

Explain .
1. Retail Invoice.
2. Tax Invoice.
3. Commercial Invoice.
4. E1 Invoice.

Answer

retail invoice:-

means the invoice which is issued for a retailr, is
called retail invoive

tax invoice

means the invoice which is issued for a custmor is
called tax invoice

and waiting for answer for rest.

Question { 5805 }

If we get TDS certificate after audit whareas this
certificate is related to same financial year,in this
condition how will we consider tds or can we take this
credit in next f.y.?

Answer

IF WE RECEIVED THIS TDS BEFORE SUBMMITING THE RETURN THAN
WE TAKE THIS AS INCOME RECEIVED (FROM INCOME ) & TDS AS
ADVANCE TAX.

NO. THERE IS NO WAY TO TAKE THIS IN NEXT FINANCIAL YEAR