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Advance to Staff for office purchases
12-09-2010, 12:49 AM
Post: #1
Advance to Staff for office purchases
Guys aik question....
Ager mein apne staff member ko 100,000 sayta hun for multiple office and office purchases....or us mein 25000/- say zayda ki invoice hay company k name pa....tu kia mein us supplier ka tax deduct karun?

problem yah hay k staff member nay advance adjust kerna hay instead of supplier....
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12-09-2010, 02:10 PM
Post: #2
 
Dear ,, aap ko tax deduct karna paray ga supplier ka...

e.g. when the advance made to staff member...
the entry in accounts would be
"DR. Advance to Staff Member 25000/-
Cr. Bank A/c or Petty Cash 25000/-"

and when the advance adjusted (suppose These r supplies) Tax deducted @3.5%

"Dr. Purchases/supplies (or relevant A/c Head)25875/-
Cr. W.H.Tax Payable 875/-
Cr. Advance to Staff Member 25000/-"

and you should deposit the tax payable to FBR.
hope i'm not wrong. [)]
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12-09-2010, 04:28 PM
Post: #3
 
AGREED WITH AKBAR
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12-13-2010, 06:59 PM
Post: #4
 
Dear here one question arises as if invoice is for Rs. 25000/- as submitted by our employee for adjesting advance. Now how we can Dr Purchases/Expenses for 25875/-

and one thing more that amount of Rs 875 is extra amount paid by us as exp(so how it will be income tax/With holding tax of that supplier)

Plz shere your opininon to solve my query

Thanks
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12-14-2010, 01:08 AM
Post: #5
 
a=Aik or baat....

ager advance 100000 hay or us k against 3 invoices hein 3 suppliers ki...invoice value un ki 10000, 25000, 45000 hay or balance 20000 hay....tu in ki purchases kaise book karay gay because 3 different supplier involve hein
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12-17-2010, 09:43 PM
Post: #6
 
pls replyyy.....
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12-18-2010, 01:55 PM
Post: #7
 
AGREED WIHT MEHMOOD.
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12-21-2010, 08:57 PM
Post: #8
 
pls reply
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