Interested to Buy Any Domain ? << Click Here >> for more details...
Pass a entry for the Contract receipts of Rs. 20000 after
deduction of mobilization adv 30%, TDS 2.244%,Works
Contract TDS 2% and retention money @ 10%
- 9 Answers
- 34012 Views
- I also Faced
- E-Mail Answers
Answer Posted / ajay vinayak
1) First book the contract in journal by following entry:
MObilization adv dr. 6000
TDS dr. 449
wct dr. 400
retention money dr. 2000
party/dr. 11151
contract receipt 20000 cr.
2) At the time of receiving money:
Bank A/C.....dr.11151
to Party A /c 11151
| Is This Answer Correct ? | 5 Yes | 4 No |
Post New Answer View All Answers
We have a constructed a goverment approved textile park in year 2007. will we have to pay Service Tax on that Construction Service?
what is central excise tax
accounting taxation
Define previous year.
how to creat e-vat return in tally
what was the rate of duty i have to pay if i want to import 1) lubricants(engine oil, etc) 2) grease 3) v-belts(rubber belts used in machines, cars, etc)
Hi, Please guide me in the TDS calculation. I know the slabs.But I dont have much idea about the deduction part.What is the need of Bsic and HRA while calculating TDS.Also I heard that LIC, Rent etc is excempted from TDS.Please guide me...my email id is tinjusyriac@gmail.com Thanks in advance..
What will be the planned expenditure in the budget 2009-10
Is there any change in the section 80E for the financial year 2009-10
sub hadding no. scrap & Wastage in corrugated box
who will able to deduct the tds
Sir, We purchased coal from NCL on CST basis. An incentive is paid on the basis of performance basis of NCL. NCL Raise there incentive bill for Rs. 1000+CST2% Rs.20 Total Rs. 1020/-. But As per Our Calculation, Incentive bill should be Rs. Basic 900+18 (CST)total Rs. 918. We argue and disputed and paid only Rs. 918/- . After Some time they also agree that incentive amount should be Rs. 900+CST but Now they revised the bill like this Basic Incentive Rs. 900+CST Rs.20/- (Original Tax value). And now they are demanding C for with CST 20/- but our pleas is that we are not liable for the mistakes made by the NCL and will issue C for for Rs. 18 Only. Now They are demanding C for for difference of Rs. 2 of CST. My Question is what should be the actually value of C form for CST ie. Rs. 18 or 20. considering the fact that we accounted only rs. 918/- in books and disputed is resolved after one year for basic value.
What are the deductions under salary head? Name the items.
Any one can mail soft copy of Balance sheet,Trading and profit and loss alc.of a small firm or small co for study
The Depreciation Rate for Heavy Equipments like cranes (used in the construction of bridges, flyovers etc ... ) is 30% as per the companies act. If i buy a crane for Rs. 10 Lakh and claim depreciation the cost of the crane in the 2nd year is 7 Lakh and in the 3rd year it is 4.9 Lakh and in the 4th year it is 3.4 Lakh ...... Can i re-value the crane in the 5th year to the 2nd hand market price of Rs. 20 Lakh and claim depreciation on it @ 30% ? (Cost of crane in 6th Year now is 20 Lakh - 6 Lakh = 14 Lakh )
