06-26-2006, 04:47 PM
ok
1. U have to pay a rent of Rs. 100. U will pay Rs. 95 and book Rs. 5 as payable to tax authorities. the journal entry would be..
DR. Rent expense 100
CR. Cash 95
CR. Tax payable 5
2. and u have to do nothing if u r getting rent of something. The other person making u the payment will deduct the tax. and ur rental income will not be included in ur total income. and u also cannot claim any expenditure which was previously allowed under section 17.
u can ask if u have any further query.
and haan good response?????? wut do u mean by this
1. U have to pay a rent of Rs. 100. U will pay Rs. 95 and book Rs. 5 as payable to tax authorities. the journal entry would be..
DR. Rent expense 100
CR. Cash 95
CR. Tax payable 5
2. and u have to do nothing if u r getting rent of something. The other person making u the payment will deduct the tax. and ur rental income will not be included in ur total income. and u also cannot claim any expenditure which was previously allowed under section 17.
u can ask if u have any further query.
and haan good response?????? wut do u mean by this
