if a person purchase a asset say house property in the name name of others,,then in whose bal sheet it will be appeared,,the title holder or the person who has made the payment?

What is the accounting treatment to claim TCS?

Suppose the client engagged in the business of mining & querrying. e.g. he paid Rs.14,00,000/- for getting the right on mining & querrying. for that he get 26AS tax credit TCS Rs.31436/-(2% on amount actually paid)

what is the accounting treatment in the books of client.

HELLO,

PLEASE LET ME KNOW ON WHAT AMOUNT TDS WOULD BE DEDUCT WHEN VENDOR IS CHARGING WORK CONTRACT TAX{WCT}WITH THE SERVICE TAX.

FOR EXAMPLE.

SUPPLIES AND JOB WORK = 500
SERVICE TAX = 10
G. TOTAL 510
WCT 4
TOTAL 514

ON WHAT AMOUNT TDS WILL BE APPLICABLE 500 OR 514?{ FOR ANY TYPE OF INVOICE IN WHICH WCT IS APPLICABLE}.

a bill raise at 11.6.11 of power bill & payment made on the last due dat 26aut what will be accouting treatment as mercantile system of accounting.

Please explain the treatment relating to 10% preference share capital and also the treatment relating to 9%debentures in question no.6 of chapter "preparation of financial statement of companies , unit 2 cash flow statement pg no.2.21 of CA-IPCC group 1 "accounting" subject practice manual.


A sum of new light ltd

If a firm has rental income by leasing out machinery and for 4 months it is unable to receive the rent and receives rent for only 8 months then whether the accounting of rent can be done on cash basis or mercantile system has to be followed? In effect the firm has not received the rental income for 4 month and received only for 8 months so what should be the treatment in accounts. Also what impact to be taken care of in Income Tax? Please suggest the effective way since assessee firm might end up paying tax on income which it has never earned.

Can any please let me know about my query
should trail balance always agrees?
If No ,reasons for that

KINDLY LET ME KNOW HOW TO CALCULATE DEFERRED TAX: WHEN MY DEFERRED TAX LIABILITY IS RS. 39818/-

KINDLY PROVIDE TO ME COMPLETE FORMULA OF DEFERRED TAX.

I have one doubt,its simple but some confusion .........
The question is
" Why we are taking opening stock amt for the preparation of Trial balance instead of closing stock?"
I expecting a simple but logic answer from your side....

Hi All,
Closing inventory has to be included in trial balance?