Accounting treatment of Advance tax and TDS paid by LLP and year end entry made by firm in the
books of LLP
In the books of LLP at the FY end
Partners capital account Dr.
To Advance tax

Now can i book the advance tax paid by firm in my books as Advance tax personal expenses in the FY year end in partner books
Partnership firm expenses A/c Dr
To Partnership firm A/c

If Group company loan provided to other company interest free , whether it is fair to give interest free loan to other companies.

we purchased materials with a warranty, but now the material is sending for replacement purposes the value of the material is above 50000/-, and also the invoice is 1 year old, so in this case we cannot give a Debit note as a purchase return, so there are asking for our sales invoice and they provide there sales invoice(for us purchase invoice) to nullify it.
We have sent it through DC and generated E-waybill on it and asked them to send replacement material on DC itself. Is this correct, if not please let me know what to do in those cases? and also let me if we have to generate E-waybill for replacement goods on a returnable basis.

In a going concern business, When started accounting in Tally ERP9 for first time, Whether the entry on the first day of financial year (i.e 1st April) for opening bank statement by debiting the bank a/c and crediting the capital a/c is correct way of accounting or simply creating bank ledger with opening balance and leaving the balance sheet as difference in opening balance on liability side is ok. What will be the entry for opening balance of bank statement? Please guide.

HELLO SIR

MY FIRM IS PARTNERSHIP FIRM AND FEW DAYS BACK I BOUGHT A NEW CAR WITH PERSONAL (PARTNER) NAME. SIR SOME PAYMENT OF CAR WE PAID FROM FIRM BANK ACCOUNT AND SOME PAYMENT WE MADE THROUGH BANK LOAN. BUT BANK LOAN IS PARTNER NAME NOT FIRM NAME. HOW WE MADE ENTRY OF THE SAME IN OUR ACCOUNT BOOK. KINDLY CLEAR MY ISSUE EARLY AS POSSIBLE.
SIR PLEASE TELL ME CAN I ENTER THIS CAR AS A FIXED ASSETS IN MY FIRM BOOKS ? IF YES PLEASE TELL ME HOW I CAN ADJUST PAYMENT IN DEALER ACCOUNT WHICH I PAID FROM MY FIRM BANK ACCOUNT AND THROUGH BANK LOAN ?

when booking Depreciation
Depreciation A/c Dr ( Indirect Exp.)
to Accumulated depreciation ( Under which group)

what is quoted and unquoted shares.
and what is tax treatment on transfer of shares.

what is deferred expenses and deferred revenue .

HI,
In October 2021, I converted my Sole Proprietorship business to a Private Limited Company.
Queries :
1. Whether I have to file 2 Income tax returns for FY 2021-22 i.e for Sole proprietor as well as company? If 1 return is to be filed, whether income from sole proprietorship business to be reflected in Books of Accounts of the Company?
2. I was using my Old GST number till February 2022. Will that have any penalty?
3. Please explain the accounting treatment in both entity's books

An employee has left the company in april 2022.The salary was not given for the month of April 2022 to the employee but PF was duly deposited in his account.
Now the company is asking for this PF amount from the employee...what is the remedy of this? The company can directly ask the EPFO department to receive back this amount instead of employee?