Please Clarify EPF Deduction responsibility of my company from housekeeping contractor who is having less than 20 labours engaged .
mine company is registered inn EPF authority because having more than 300 employees and EPF of employees is deducted from the salary

i want to ask whether we should deduct epf amount from the contractor bill and paid to the authority ,Contractor is having less than 20 labours.IF yes what we should do..

suppose the company purchased a software ( saral payback premium - v5 - (2011 -2012) for Rs. 5500. Is this software is to be treated as asset or to be treated as revenue exp. and allowed under income tax act ?

A Company buying land and entering into contract with buyer for construction of residential house. After construction complete it sell land with building to buyer for a consideration.
Query:
1. whether AS-7 will be applicable for the above situation?
2. If No, how to recognise a revenue for a year, can it use completed contract method?

Dear Friends ,
please help me on the following Situation regarding credit card sales accounting.....

Suppose there are 2 Shops.... A & B..... we are doing accounting of A.
A does not have credit card Swipe Machine.... But A has Control over B's Swipe Machine and B's Machine is at A's place.
So Credit Sales of both Shops are Swiped at B's machine.....after Swiping B pays Cash to A against Swiping and A pays to B after deducting credit card sales of A.
so please help me how should i do accounting of above transactions...i.e sales entries and transactions of receipt and payment from/to B.


Regards ,
Vivek.

If cash is remitted by our customer in our bank account, to account the same, is needed to pass entry in cash book by issuing a cash receipt to customer and then passing a contra entry or credit the customer in bank book without entries in cash book.
which is correct ?

Respected Sir

I am working as accoutant in manufacturing company.I handel taxation ( MVAT,Service tax etc.) My qualification is B.Com. D.T.L.(Diploma In Taxation Law in Symbiosis Law school Pune.& G.D.C.&A. I am Intrested in Taxation. Please tell me How Start Practice In Taxation[ MVAT, Service Tax,Sales tax]. What is Procidure For this Practice.

Thank You

E-mail sachinmore53@gmail.com

In a company, while going through entries for the current year, it is found that many expenses related to the previous yeari.e. march2011 is entered in the current year . Reason given is that the bill was not received in the last year . No provision for these expenses in the last year is made in books.

what should the accounting be done for these expenses.
tank you.

Dear Experts,
Please tell me if I am preparing balance sheet for every month then I should take assets value in that balance sheet or not.if I should take then please tell how and the entries for the same.

Respected All

Please tell how the journal entry will be passed in tally when goods are used by the proprietor for his personal use when accounts are maintained with inventory or without inventory.

Thanks in Advance

Sir, I have passed group 1 of CA final and hav appeard for grp 2 awaiting results. Planning to carry out Advanced Certificate Program on IFRS: Implementation and Compliance by KPMG in collboration with NIIT imperia. How much beneficial will the course be for me?