Lewis-H | Reputations

Posted an answer
Projected and provisional and estimated

Provisional Balance Sheet: - Provisional Balance Sheet is prepared on the basis of Past data i.e. for the period which is already completed. ... Projected Balance Sheet - Projected Balance Sheet is prepared...

May 13, 2020 5
Posted an answer
Paying GST for income earned before GST registration

If you are not registered for GST your invoice must not say Tax Invoice and just say Invoice. You do not charge an extra 10% on top of your services, that you collect and pay onto the government and you...

May 13, 2020 5
Posted an answer
Fixed Asset Turnover Formula and Why it is important.

The fixed asset turnover ratio reveals how efficient a company is at generating sales from its existing fixed assets. A higher ratio implies that management is using its fixed assets more effectively....

May 8, 2020 5
Posted an answer
Difference of stock

Shares are a part of something bigger i.e. the stocks. Shares represent the proportion of ownership in the company while stock is a simple aggregation of shares in a company. Shares are issued at par,...

May 8, 2020 5
Posted an answer
GST ITC on commercial rental income

Any immovable property let out for business or commercial purposes are subject to GST at the rate of 18%. Thus, GST at the rate of 18% is applicable to the taxable value. Taxable Value is nothing but the...

April 30, 2020 5
Posted an answer
INADVERTED DUTY STRUCTURE CLAIM GST

In particular, GST refunds on inverted duty structure has always been controversial. In simple terms, an inverted duty structure means that GST paid on inputs is higher than the GST paid on the finished...

April 30, 2020 5
Posted an answer
Income tax queries

You can contact HMRC on the Taxes Helpline for individuals and employees, including pensioners and people on benefits, on 0300 200 3300 (Textphone 0300 200 3319 for people who are deaf or hearing or speech...

April 30, 2020 5
Asked a question
QuickBooks Pro vs Premier vs Enterprise hosting

Which QuickBooks version is suitable for small businesses?

April 23, 2020 2
Asked a question
QuickBooks desktop hosting

How can be QuickBooks desktop hosting be helpful during this period of time? Should I switch to QuickBooks cloud hosting?

April 23, 2020 2
Asked a question
QuickBooks cloud hosting for small businesses

What are the benefits of QuickBooks cloud hosting? Is QuickBooks better than Quicken for accounting?

April 17, 2020 2
Asked a question
QuickBooks cloud hosting

How QuickBooks cloud hosting can be better than QuickBooks Desktop?

April 17, 2020 2
Asked a question
Drake Hosting

What are the benefits of Drake hosting? how can it be helpful for my business?

April 17, 2020 2
Asked a question
Drake hosted software

What is Drake Hosted software? How can Drake hosting be helpful for accounting and bookkeeping?

April 17, 2020 2
Posted an answer
Turnover below limit

Currently, businesses with a turnover of up to Rs 20 lakh is exempt from GST registration, while the limit for hilly and north eastern states is Rs 10 lakh. Sources said the annual revenue loss on account...

April 17, 2020 5
Posted an answer
extension for investment in 54ec bonds

But, if you are considering investing in Tax-free Bonds (which are already trading in BSE/NSE with premium) of longer tenure, REC scores a bit higher than NHAI. The simple reason is, the Highway construction...

April 17, 2020 5
Posted an answer
Interest from Savings Accounts on joint account of 2 or 3 people in a family

If you hold a joint bank account and you aren’t married, you don’t have to worry about community property laws. Instead: Just pay taxes on the interest based on your portion of ownership of the account....

April 17, 2020 5
Posted an answer
Regarding gstr1

GSTR-1 is a monthly Statement of Outward Supplies to be furnished by all normal and casual registered taxpayers making outward supplies of goods and services or both and contains details of outward supplies...

April 4, 2020 5
Posted an answer
Tax deducted at source

Always Remember the ITR (Income Tax Returns) Filing Date. Keep all the important documents handy. File your Income Tax Returns (ITR) Know your refund amount. Send the ITR-V receipt to the Income...

April 4, 2020 5
Posted an answer
vat issues to be sorted

Problems with VAT payments can also arise if you have used the output tax (ie VAT you have charged on sales) as a source of finance and are unable to pay the VAT over when it is due. The risk of this kind...

April 4, 2020 5
Asked a question
QuickBooks cloud hosting for bookkeeping

How can I use QuickBooks cloud hosting for accounting and bookkeeping? Is it possible to use QuickBooks from a remote location? As for business, I am constantly traveling.

March 12, 2020 2
Load More