NEW DELHI: The largest domestic IT firm TCS is expected to report a marginal sequential fall in fourth quarter profit on a 0.5-2 per cent rise in sales. Margins are seen falling by up to 40 basis points QoQ. The IT major is slated to announce its March quarter results on Thursday. The capitalization under the Income tax Act is solely governed by the provisions of Section 43A of the Income tax Act, 1961. 2. The Unrealized Exchange Gain/loss arisen on account of any capital asset covered under Section 43A of the Act is not allowed to be added (in case of loss) or taxed (in case of gain) since Section 43A treats the same on REALIZATION BASIS. Purchases Under TCS You can record purchase of stock items attracting TCS. If it attracts TCS, the tax gets autocalculated. If it has TCS and non-TCS items, enter the tax amount manually in the invoice. But others say a bigger offer is not possible in the case of Tata Consultancy Services (TCS), as the promoter stake is very close to the Sebi-mandated 75 per cent limit. In case of a larger buyback, the promoter stake will increase further and in the promoters required do a buyback, say to support the stock price in case of a sharp drop, they will have their hands tied. TCS may lead IT earnings; forex losses may affect margins 5 min read. Updated: 04 Oct 2012, 11:31 PM IST Leslie D’Monte &, Pankaj Mishra. Analysts expect IT firms to post higher volumes, see ... In the second quarter, TCS had posted a forex loss of Rs 377 crore because of its exposure to ‘range forward options,’ a forex contract that uses a range of exchange rates rather than a single ... In the Company Operations Alteration screen, set Enable Tax Collected at Source (TCS) to Yes . 3. Enable the option Set/alter TCS details . The Company Operations Alteration screen appears as shown below: 4. Press F12 . Set Enable surcharge and cess details for TCS to Yes . TCS in Tally ERP9,Tax collected at source, implementation. Implemetation guide of TCS in Tally ERP9,begins from TCS master creation,ledgers,transactions, challan printing and reports, complete guide. Article by Tallygame. More ideas for you ... Forex loss in Tax Laws : Evil Lurks Our Income Tax law leaves the method of accounting to be desired by the assessee. The insistence is only on the consistency of the method of accounting employed over substantial number of years. Any claim of deduction towards Business expenditure is allowed based on the cash basis or accrual or hybrid system of accounting as adopted by assessee. But the ... Money flowing out of India is being taxed with tax deduction at source added on services like foreign tour packages and remittances as the outgoing funds flow is sought to being taxed.
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