Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / h.r. sreepada bhagi
Direct Taxes - Taxes levied by the Government on the
assessee and borne by the assessee (Individual, Firm, Trust,
HUF, Company, etc.) Direct taxes can not be passed on by the
assessee to some other person/entity. Examples - Income Tax,
Wealth Tax, Gift Tax, etc.
Indirect Taxes - Taxes levied by the Government on the
assessee, who in turn can pass on the burden on any other
individual/entity in full or part. Examples - Excise Duty
(Cenvat), Sales Tax(VAT/CST), Service Tax, etc.
| Is This Answer Correct ? | 16 Yes | 1 No |
Post New Answer View All Answers
What is the difference between lc and bg(letter of credit
capital goods purchased from Singapore. payment made by bank in rupees. but the invoice value is in USD, How to make purchase entry in tally?
how to pass provision salary full and settlement(inclusive Bonus,Gratutity etc )please show me entry
sIR, DEAR SIR, WE ARE PREPARING EXPORT INVOICES AT THE TIME OF INVOICE PREPARATION WE MENTIONED EXCISE, EDN CESS AND SH EDN CESS AMOUNT ALSO IS IT CORRECT ARE NOT BUT I THINK WHEN MATERIAL SOLD EXPORT EXCEMPTION FROM EXCISE, EDN CESS AND SH EDN CESS WHICH EVER IS CORRECT. PLEASE CLARIFY MY DOUT. ADVANCE THANKING YOU,
How use Budget in SAP, i want to see the report of variant between budget and actuals.
if you are a hard working nature conclude your self?
What do you mean by material facts in accounting?
What is the provision?
what is the right process for input credit of Service tax. and on which service i can take credit.
in insolvency we have to prepare deficiency account but why we do not prepare this account as per general principle i.e Dr Cr To By etc , and deficiency account is which account?
Why is accuracy important in accounting?
Tell me which accounting application you prefer most and why?
Define "book value" as applied to accounting
Tell me what are things will not be included in bank reconciliation statement?
Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
