Quick Tution - Accounts, Finance & Tax Concepts in Short & Easy to Remember Format

Method 1: Use the "Format as Table" option To use the Format as Table option to shade rows in a worksheet, follow these steps: Open the worksheet. Select the cell range that you want to shade, or press Ctrl+A to select the whole worksheet. Click the Home tab. In the Styles group, click Format as Table, and then click the style of formatting that you want. In the Format as Table dialog box, click OK. Method 2: Use the "Conditional Formatting" option To use the Conditional Formatting option to shade rows in a worksheet, follow these steps: Open the worksheet. Select the cell range that you want to shade, or press Ctrl+A to select the whole worksheet. Click the Home tab. In the Styles group, click Conditional Formatting, and then click Manage Rules. Click New rule. Click Use a formula to determine which cells to format. In the Format values where this formula is true box, type =MOD(ROW(),2)=1, and then click Format. On the Fill tab, click the color that you want to use to shade every other row, and then click OK. Click OK to close the New Formatting Rule dialog box. Click Apply, and then click OK to close the Conditional Formatting Rules Manager dialog box.

Sales tax refund case arises if the company buys stock in large quantities but could not be able to sell the all stock. Then output tax will be less than the input tax. In this case, the company may apply for sales tax refund.

Income tax refund is possible under two cases: 1. In advance tax case - because advance tax is paid after every quarter on the basis of previous year sales. 2. Withholding tax - if the tax liability of the company is less than the total tax deducted by the suppliers.