diff --git a/addons/l10n_in/l10n_in_installer.py b/addons/l10n_in/l10n_in_installer.py
index f3b82d7b0dd..0d2b4f665b6 100644
--- a/addons/l10n_in/l10n_in_installer.py
+++ b/addons/l10n_in/l10n_in_installer.py
@@ -26,8 +26,8 @@ import tools
 class l10n_installer(osv.osv_memory):
     _inherit = 'account.installer'
     _columns = {
-        'company_type': fields.selection([('public_company', 'Public Firm'),
-                                         ('partnership_private_company', 'Partnership/Private Firm')
+        'company_type': fields.selection([('public_company', 'Public Ltd'),
+                                         ('partnership_private_company', 'Private Ltd/Partnership')
                                          ], 'Company Type', required=True,
                                         help='Company Type is used to install Indian chart of accounts as per need of business.'),
     }
diff --git a/addons/l10n_in/l10n_in_private_chart.xml b/addons/l10n_in/l10n_in_private_chart.xml
index d6ef24a20a6..feb7e58521e 100644
--- a/addons/l10n_in/l10n_in_private_chart.xml
+++ b/addons/l10n_in/l10n_in_private_chart.xml
@@ -132,7 +132,17 @@
             <field name="parent_id" ref="a10"/>
             <field name="note">Amount of equipment's cost that has been allocated to Depreciation Expense since the time the equipment was acquired.</field>
         </record>			
-		
+
+        <record model="account.account.template" id="a189">
+            <field name="name">Tax Receivable</field>
+            <field name="code">189</field>
+            <field name="type">other</field>
+            <field name="user_type" ref="account.data_account_type_asset"/>
+            <field name="reconcile" eval="False"/>
+            <field name="parent_id" ref="a10"/>
+        </record>
+			
+				
 		<!-- Liabilities -->
 		
         <record model="account.account.template" id="a20">
@@ -215,41 +225,52 @@
         </record>		
 		
 
+
     <!-- Tax Account -->
+
     <record model="account.account.template" id="a216">
-        <field name="name">Sales Tax Payable</field>
+        <field name="name">Tax payable</field>
         <field name="code">216</field>
-        <field name="type">other</field>
-        <field name="user_type" ref="account.data_account_type_payable"/>
-        <field name="reconcile" eval="True"/>
+        <field name="type">view</field>
+        <field name="user_type" ref="account.data_account_type_liability"/>
+        <field name="reconcile" eval="False"/>
         <field name="parent_id" ref="a20"/>
     </record>
+	
+    <record model="account.account.template" id="a2161">
+        <field name="name">Sales Tax Payable</field>
+        <field name="code">2161</field>
+        <field name="type">other</field>
+        <field name="user_type" ref="account.data_account_type_liability"/>
+        <field name="reconcile" eval="True"/>
+        <field name="parent_id" ref="a216"/>
+    </record>
     
-    <record model="account.account.template" id="a217">
+    <record model="account.account.template" id="a2162">
         <field name="name">VAT Payable</field>
-        <field name="code">217</field>
+        <field name="code">2162</field>
         <field name="type">other</field>
-        <field name="user_type" ref="account.data_account_type_payable"/>
+        <field name="user_type" ref="account.data_account_type_liability"/>
         <field name="reconcile" eval="True"/>
-        <field name="parent_id" ref="a20"/>
+        <field name="parent_id" ref="a216"/>
     </record>
     
-    <record model="account.account.template" id="a218">
+    <record model="account.account.template" id="a2163">
         <field name="name">Service Tax Payable</field>
-        <field name="code">218</field>
+        <field name="code">2163</field>
         <field name="type">other</field>
-        <field name="user_type" ref="account.data_account_type_payable"/>
+        <field name="user_type" ref="account.data_account_type_liability"/>
         <field name="reconcile" eval="True"/>
-        <field name="parent_id" ref="a20"/>
+        <field name="parent_id" ref="a216"/>
     </record>
     
-    <record model="account.account.template" id="a219">
+    <record model="account.account.template" id="a2164">
         <field name="name">Exice Duty Payable</field>
-        <field name="code">219</field>
+        <field name="code">2164</field>
         <field name="type">other</field>
-        <field name="user_type" ref="account.data_account_type_payable"/>
+        <field name="user_type" ref="account.data_account_type_liability"/>
         <field name="reconcile" eval="True"/>
-        <field name="parent_id" ref="a20"/>
+        <field name="parent_id" ref="a216"/>
     </record>
 
 	 <!--  Owner's Equity Accounts -->	
@@ -491,7 +512,7 @@
         <!-- Chart template -->
 		
         <record id="indian_chart_template_private" model="account.chart.template">
-            <field name="name">India - Chart of Accounts for Partnership/Private Firm</field>
+            <field name="name">India - Chart of Accounts for Private Ltd/Partnership</field>
             <field name="account_root_id" ref="a0"/>
             <field name="tax_code_root_id" ref="vat_code_tax"/>
             <field name="bank_account_view_id" ref="a101"/>
diff --git a/addons/l10n_in/l10n_in_private_tax_template.xml b/addons/l10n_in/l10n_in_private_tax_template.xml
index f7b07dfd8dc..2aa6ddbad22 100644
--- a/addons/l10n_in/l10n_in_private_tax_template.xml
+++ b/addons/l10n_in/l10n_in_private_tax_template.xml
@@ -12,8 +12,8 @@
         <field name="amount">0.15</field>
         <field name="type">percent</field>
         <field name="type_tax_use">sale</field>
-        <field name="account_collected_id" ref="a216"/>
-        <field name="account_paid_id" ref="a216"/> 		
+        <field name="account_collected_id" ref="a2161"/>
+        <field name="account_paid_id" ref="a2161"/> 		
         <field name="base_code_id" ref="vat_code_base_tax_sale"/>
         <field name="tax_code_id" ref="vat_code_tax_rec"/>
         <field name="ref_base_code_id" ref="vat_code_base_tax_sale"/>
@@ -28,8 +28,8 @@
         <field name="amount">0.12</field>
         <field name="type">percent</field>
         <field name="type_tax_use">sale</field>
-        <field name="account_collected_id" ref="a216"/>
-        <field name="account_paid_id" ref="a216"/> 		
+        <field name="account_collected_id" ref="a2161"/>
+        <field name="account_paid_id" ref="a2161"/> 		
         <field name="base_code_id" ref="vat_code_base_tax_sale"/>
         <field name="tax_code_id" ref="vat_code_tax_rec"/>
         <field name="ref_base_code_id" ref="vat_code_base_tax_sale"/>
@@ -44,8 +44,8 @@
         <field name="amount">0.04</field>
         <field name="type">percent</field>
         <field name="type_tax_use">sale</field>
-        <field name="account_collected_id" ref="a216"/>
-        <field name="account_paid_id" ref="a216"/>
+        <field name="account_collected_id" ref="a2161"/>
+        <field name="account_paid_id" ref="a2161"/>
         <field name="base_code_id" ref="vat_code_base_tax_sale"/>
         <field name="tax_code_id" ref="vat_code_tax_rec"/>
         <field name="ref_base_code_id" ref="vat_code_base_tax_sale"/>
@@ -58,8 +58,8 @@
     
     <record id="purchase_tax_public" model="account.tax.template">
         <field name="name">Purchase Tax-15%</field>
-        <field name="account_collected_id" ref="a216"/>
-        <field name="account_paid_id" ref="a216"/> 
+        <field name="account_collected_id" ref="a189"/>
+        <field name="account_paid_id" ref="a189"/> 
         <field name="price_include" eval="0"/>
         <field name="amount">0.15</field>
         <field name="type">percent</field>
@@ -79,8 +79,8 @@
         <field name="amount">0.05</field>
         <field name="type">percent</field>
         <field name="type_tax_use">all</field>
-        <field name="account_collected_id" ref="a217"/>
-        <field name="account_paid_id" ref="a217"/> 		
+        <field name="account_collected_id" ref="a2162"/>
+        <field name="account_paid_id" ref="a2162"/> 		
         <field name="base_code_id" ref="vat_code_base_tax_sale"/>
         <field name="base_sign">1</field>
         <field name="tax_code_id" ref="vat_code_tax_rec"/>
@@ -99,8 +99,8 @@
         <field name="amount">0.15</field>
         <field name="type">percent</field>
         <field name="type_tax_use">all</field>
-        <field name="account_collected_id" ref="a217"/>
-        <field name="account_paid_id" ref="a217"/> 		
+        <field name="account_collected_id" ref="a2162"/>
+        <field name="account_paid_id" ref="a2162"/> 		
         <field name="base_code_id" ref="vat_code_base_tax_sale"/>
         <field name="base_sign">1</field>
         <field name="tax_code_id" ref="vat_code_tax_rec"/>
@@ -119,8 +119,8 @@
         <field name="amount">0.08</field>
         <field name="type">percent</field>
         <field name="type_tax_use">all</field>
-        <field name="account_collected_id" ref="a217"/>
-        <field name="account_paid_id" ref="a217"/>
+        <field name="account_collected_id" ref="a2162"/>
+        <field name="account_paid_id" ref="a2162"/>
         <field name="base_code_id" ref="vat_code_base_tax_sale"/>
         <field name="tax_code_id" ref="vat_code_tax_rec"/>
         <field name="ref_base_code_id" ref="vat_code_base_tax_sale"/>
@@ -135,8 +135,8 @@
         <field name="amount">0.10</field>
         <field name="type">percent</field>
         <field name="type_tax_use">all</field>
-        <field name="account_collected_id" ref="a217"/>
-        <field name="account_paid_id" ref="a217"/>
+        <field name="account_collected_id" ref="a2162"/>
+        <field name="account_paid_id" ref="a2162"/>
         <field name="base_code_id" ref="vat_code_base_tax_sale"/>
         <field name="tax_code_id" ref="vat_code_tax_rec"/>
         <field name="ref_base_code_id" ref="vat_code_base_tax_sale"/>
@@ -151,8 +151,8 @@
         <field name="amount">12.5</field>
         <field name="type">percent</field>
         <field name="type_tax_use">all</field>
-        <field name="account_collected_id" ref="a217"/>
-        <field name="account_paid_id" ref="a217"/>       
+        <field name="account_collected_id" ref="a2162"/>
+        <field name="account_paid_id" ref="a2162"/>       
         <field name="base_code_id" ref="vat_code_base_tax_sale"/>
         <field name="tax_code_id" ref="vat_code_tax_rec"/>
         <field name="ref_base_code_id" ref="vat_code_base_tax_sale"/>
@@ -169,8 +169,8 @@
         <field name="amount">0.10</field>
         <field name="type">percent</field>
         <field name="type_tax_use">sale</field>
-        <field name="account_collected_id" ref="a219"/>
-        <field name="account_paid_id" ref="a219"/> 		
+        <field name="account_collected_id" ref="a2164"/>
+        <field name="account_paid_id" ref="a2164"/> 		
         <field name="base_code_id" ref="vat_code_base_tax_sale"/>
         <field name="base_sign">1</field>
         <field name="tax_code_id" ref="vat_code_tax_rec"/>
@@ -209,8 +209,8 @@
         <field name="include_base_amount" eval="True"/>
         <field name="amount">0.12</field>
         <field name="type">percent</field>
-        <field name="account_collected_id" ref="a218"/>
-        <field name="account_paid_id" ref="a218"/> 			
+        <field name="account_collected_id" ref="a2163"/>
+        <field name="account_paid_id" ref="a2163"/> 			
         <field name="base_code_id" ref="vat_code_base_tax_sale"/>
         <field name="tax_code_id" ref="vat_code_tax_rec"/>
         <field name="ref_base_code_id" ref="vat_code_base_tax_sale"/>
@@ -238,4 +238,4 @@
     </record>			
 	
 	</data>
-</openerp>
\ No newline at end of file
+</openerp>
diff --git a/addons/l10n_in/l10n_in_public_chart.xml b/addons/l10n_in/l10n_in_public_chart.xml
index 7084d2ee1cf..452a483b1dc 100644
--- a/addons/l10n_in/l10n_in_public_chart.xml
+++ b/addons/l10n_in/l10n_in_public_chart.xml
@@ -113,7 +113,16 @@
             <field name="reconcile" eval="False"/>
             <field name="parent_id" ref="p10000"/>
         </record>		
-		
+
+        <record model="account.account.template" id="p15400">
+            <field name="name">Tax Receivable</field>
+            <field name="code">15400</field>
+            <field name="type">other</field>
+            <field name="user_type" ref="account.data_account_type_asset"/>
+            <field name="reconcile" eval="False"/>
+            <field name="parent_id" ref="p10000"/>
+        </record>		
+				
 		<!-- Liabilities -->
 		
         <record model="account.account.template" id="p20">
@@ -260,54 +269,63 @@
             <field name="reconcile" eval="False"/>
             <field name="parent_id" ref="p27000"/>
         </record>
-		
+
+	    <record model="account.account.template" id="p24600">
+	        <field name="name">Reserve and Surplus Account</field>
+	        <field name="code">24600</field>
+	        <field name="type">other</field>
+	        <field name="user_type" ref="account.data_account_type_liability"/>
+	        <field name="reconcile" eval="False"/>
+	        <field name="parent_id" ref="p20000"/>
+	    </record>
+			
     <!-- Tax Account -->
     
-    <record model="account.account.template" id="p24600">
-        <field name="name">Sales Tax Payable</field>
-        <field name="code">24600</field>
-        <field name="type">other</field>
-        <field name="user_type" ref="account.data_account_type_payable"/>
-        <field name="reconcile" eval="False"/>
-        <field name="parent_id" ref="p20000"/>
-    </record>
-    
-    <record model="account.account.template" id="p24800">
-        <field name="name">VAT Payable</field>
-        <field name="code">24800</field>
-        <field name="type">other</field>
-        <field name="user_type" ref="account.data_account_type_payable"/>
-        <field name="reconcile" eval="False"/>
-        <field name="parent_id" ref="p20000"/>
-    </record>
-    
-    <record model="account.account.template" id="p24900">
-        <field name="name">Exice Duty Payable</field>
-        <field name="code">24900</field>
-        <field name="type">other</field>
-        <field name="user_type" ref="account.data_account_type_payable"/>
-        <field name="reconcile" eval="False"/>
-        <field name="parent_id" ref="p20000"/>
-    </record>
-
     <record model="account.account.template" id="p24700">
-        <field name="name">Service Tax Payable</field>
+        <field name="name">Tax payable</field>
         <field name="code">24700</field>
-        <field name="type">other</field>
-        <field name="user_type" ref="account.data_account_type_payable"/>
-        <field name="reconcile" eval="False"/>
-        <field name="parent_id" ref="p20000"/>
-    </record>
-
-    <record model="account.account.template" id="p24950">
-        <field name="name">Reserve and Surplus Account</field>
-        <field name="code">24950</field>
-        <field name="type">other</field>
+        <field name="type">view</field>
         <field name="user_type" ref="account.data_account_type_liability"/>
         <field name="reconcile" eval="False"/>
         <field name="parent_id" ref="p20000"/>
-    </record>	
+    </record>
 		
+    <record model="account.account.template" id="p24710">
+        <field name="name">Sales Tax Payable</field>
+        <field name="code">24710</field>
+        <field name="type">other</field>
+        <field name="user_type" ref="account.data_account_type_liability"/>
+        <field name="reconcile" eval="False"/>
+        <field name="parent_id" ref="p24700"/>
+    </record>
+    
+    <record model="account.account.template" id="p24720">
+        <field name="name">VAT Payable</field>
+        <field name="code">24720</field>
+        <field name="type">other</field>
+        <field name="user_type" ref="account.data_account_type_liability"/>
+        <field name="reconcile" eval="False"/>
+        <field name="parent_id" ref="p24700"/>
+    </record>
+    
+    <record model="account.account.template" id="p24730">
+        <field name="name">Exice Duty Payable</field>
+        <field name="code">24730</field>
+        <field name="type">other</field>
+        <field name="user_type" ref="account.data_account_type_liability"/>
+        <field name="reconcile" eval="False"/>
+        <field name="parent_id" ref="p24700"/>
+    </record>
+
+    <record model="account.account.template" id="p24740">
+        <field name="name">Service Tax Payable</field>
+        <field name="code">24740</field>
+        <field name="type">other</field>
+        <field name="user_type" ref="account.data_account_type_liability"/>
+        <field name="reconcile" eval="False"/>
+        <field name="parent_id" ref="p24700"/>
+    </record>
+
 		 <!-- Profit And Loss Account -->
 		 
         <record model="account.account.template" id="p3">
@@ -573,7 +591,7 @@
 
 		
         <record id="indian_chart_template_public" model="account.chart.template">
-            <field name="name">India - Chart of Accounts for Public Firm</field>
+            <field name="name">India - Chart of Accounts for Public Ltd</field>
             <field name="account_root_id" ref="p0"/>
             <field name="tax_code_root_id" ref="vat_code_tax"/> 
             <field name="bank_account_view_id" ref="p10100"/> 
@@ -581,7 +599,7 @@
             <field name="property_account_payable" ref="p21000"/>
             <field name="property_account_expense_categ" ref="p41010"/>
             <field name="property_account_income_categ" ref="p31010"/>
-            <field name="property_reserve_and_surplus_account" ref="p24950"/> 
+            <field name="property_reserve_and_surplus_account" ref="p24600"/> 
         </record> 
 
     </data>
diff --git a/addons/l10n_in/l10n_in_public_tax_template.xml b/addons/l10n_in/l10n_in_public_tax_template.xml
index efb49459973..f32c5b6356a 100644
--- a/addons/l10n_in/l10n_in_public_tax_template.xml
+++ b/addons/l10n_in/l10n_in_public_tax_template.xml
@@ -7,8 +7,8 @@
 	
 	<record id="sales_tax_public_main" model="account.tax.template">
         <field name="name">Sale Tax-15%</field>
-        <field name="account_collected_id" ref="p24600"/>
-        <field name="account_paid_id" ref="p24600"/> 
+        <field name="account_collected_id" ref="p24710"/>
+        <field name="account_paid_id" ref="p24710"/> 
         <field name="price_include" eval="0"/>
         <field name="amount">0.15</field>
         <field name="type">percent</field>
@@ -22,8 +22,8 @@
 	
 	<record id="sales_tax_public" model="account.tax.template">
         <field name="name">Sale Tax-12%</field>
-        <field name="account_collected_id" ref="p24600"/>
-        <field name="account_paid_id" ref="p24600"/> 
+        <field name="account_collected_id" ref="p24710"/>
+        <field name="account_paid_id" ref="p24710"/> 
         <field name="price_include" eval="0"/>
         <field name="amount">0.12</field>
         <field name="type">percent</field>
@@ -37,8 +37,8 @@
     
     <record id="sales_tax_public_4" model="account.tax.template">
         <field name="name">Sale Tax-4%</field>
-        <field name="account_collected_id" ref="p24600"/>
-        <field name="account_paid_id" ref="p24600"/> 
+        <field name="account_collected_id" ref="p24710"/>
+        <field name="account_paid_id" ref="p24710"/> 
         <field name="price_include" eval="0"/>
         <field name="amount">0.04</field>
         <field name="type">percent</field>
@@ -54,8 +54,8 @@
     
     	<record id="purchase_tax_public" model="account.tax.template">
         <field name="name">Purchase Tax-15%</field>
-        <field name="account_collected_id" ref="p24600"/>
-        <field name="account_paid_id" ref="p24600"/> 
+        <field name="account_collected_id" ref="p15400"/>
+        <field name="account_paid_id" ref="p15400"/> 
         <field name="price_include" eval="0"/>
         <field name="amount">0.15</field>
         <field name="type">percent</field>
@@ -73,8 +73,8 @@
 
 	<record id="vat_public_main" model="account.tax.template">
         <field name="name">VAT-5%(4% VAT+1% Add. Tax.)</field>
-        <field name="account_collected_id" ref="p24800"/>
-        <field name="account_paid_id" ref="p24800"/> 
+        <field name="account_collected_id" ref="p24720"/>
+        <field name="account_paid_id" ref="p24720"/> 
         <field name="price_include" eval="0"/>
         <field name="amount">0.05</field>
         <field name="type">percent</field>
@@ -93,8 +93,8 @@
 
 	<record id="vat_public_main_tax" model="account.tax.template">
         <field name="name">VAT-15% (12.5% VAT + 2.5% Add. Tax.)</field>
-        <field name="account_collected_id" ref="p24800"/>
-        <field name="account_paid_id" ref="p24800"/> 
+        <field name="account_collected_id" ref="p24720"/>
+        <field name="account_paid_id" ref="p24720"/> 
         <field name="price_include" eval="0"/>
         <field name="amount">0.15</field>
         <field name="type">percent</field>
@@ -113,8 +113,8 @@
 
 	<record id="vat_public_tax" model="account.tax.template">
         <field name="name">VAT-8%</field>
-        <field name="account_collected_id" ref="p24800"/>
-        <field name="account_paid_id" ref="p24800"/> 
+        <field name="account_collected_id" ref="p24720"/>
+        <field name="account_paid_id" ref="p24720"/> 
         <field name="price_include" eval="0"/>
         <field name="amount">0.08</field>
         <field name="type">percent</field>
@@ -133,8 +133,8 @@
     
         <record id="vat_public_tax_10" model="account.tax.template">
         <field name="name">VAT-10%</field>
-        <field name="account_collected_id" ref="p24800"/>
-        <field name="account_paid_id" ref="p24800"/> 
+        <field name="account_collected_id" ref="p24720"/>
+        <field name="account_paid_id" ref="p24720"/> 
         <field name="price_include" eval="0"/>
         <field name="amount">0.10</field>
         <field name="type">percent</field>
@@ -153,8 +153,8 @@
 
         <record id="vat_public_tax_12" model="account.tax.template">
         <field name="name">VAT-12.5%</field>
-        <field name="account_collected_id" ref="p24800"/>
-        <field name="account_paid_id" ref="p24800"/> 
+        <field name="account_collected_id" ref="p24720"/>
+        <field name="account_paid_id" ref="p24720"/> 
         <field name="price_include" eval="0"/>
         <field name="amount">12.5</field>
         <field name="type">percent</field>
@@ -175,8 +175,8 @@
 	
 	<record id="service_public_main" model="account.tax.template">
         <field name="name">Service Tax-12.30%</field>
-        <field name="account_collected_id" ref="p24700"/>
-        <field name="account_paid_id" ref="p24700"/> 
+        <field name="account_collected_id" ref="p24740"/>
+        <field name="account_paid_id" ref="p24740"/> 
         <field name="include_base_amount" eval="True"/>
         <field name="amount">0.12</field>
         <field name="type">percent</field>
@@ -215,8 +215,8 @@
 
 	<record id="exice_public_main" model="account.tax.template">
         <field name="name">Excise Duty-10.30%</field>
-        <field name="account_collected_id" ref="p24900"/>
-        <field name="account_paid_id" ref="p24900"/>
+        <field name="account_collected_id" ref="p24730"/>
+        <field name="account_paid_id" ref="p24730"/>
         <field name="include_base_amount" eval="True"/>
         <field name="amount">0.10</field>
         <field name="type">percent</field>
@@ -252,4 +252,4 @@
     </record>		
 	
 	</data>
-</openerp>
\ No newline at end of file
+</openerp>