We have incurred an expenditure for trademark search in different countries. Does this expenditure need to be capitalized or not? If not, in which ledger we should post this expenditure.
We an Indian Company have awarded a contract to an Indian Resident company for a project outside India. We have deducted Tax at source from the bills of the Indian company as per the extant rules of the foreign country. However, we are making the net payment against the bill in INR to the Indian resident company from India to their Indian account.
Are we liable to deduct IT TDS again from such remittance as per the rules of Income Tax of India?
Proprieties have 3 Term Loan and 2 CC Loan account Interest from All Loan account FY 2023-24 is Rs.991000/- Where 661000/- Interest as Term loan. Proprietor have taken term loan from shop and home proprietor but he used Loan amount for Business purpose. In FY 2023-24 Net profit is around Rs.43500/- according to owner we should show NP around Rs.600000/- So can we Charge Term Loan Interest Rs.661000/- to owner,s Capital account and Rs. 330000/- CC Interest to PNL Account Please advise Sir,
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