Respected Sir,

TDS TO BE DEDUCTED ON GROSS AMOUNT ON NET AMOUNT FOR E.G.

NET AMOUNT 145000/-
SERVICE TAX @10.3% 14935/-
--------
GROSS AMOUNT 159935/-

lESS : - TDS 10% 15994/-


NOTE : - AS PER MUMBAI HIGH COURT JUDGEMENT TDS TO BE DEDUCTED ON NET AMOUNT NOT IN GROSS AMOUNT:

Please suggest me.

Thanks

I wanted to know,

1) what is the treatment of goodwill, when goodwill has been recorded in the books, where some consideration in money or money's worth has been paid.

2) why it is important to see that, the amount paid to vendors, not presented by tangible assets has been debited to goodwill

3) And, why it is said that, it is not prudent that, goodwill shown in the company's a/c by way of writing up the value of its assets, on revaluation or writing back the amount of goodwill earlier written off by the company.

Expert's opinion requested.

Thank you.

I wanted to know,

1) what is the basic accounting treatment for goods sold on sale or return basis ?
2 ) If goods are approved by debtor before the closer of the books, what would be accounting treatment ?
3) And what would be the accounting treatment if goods are lying with debtor, not approved by debtor before closer of books.

Awaiting for experts' and others' opinion.

Thax.

With respect to IFRS- We show the Equalization Credit in Balance sheet in Liability side But In Cash Flow statement we do not show the Equlisation Credit movement
Kindly advise me for what reason we do not show the movement in Cash Flow statement

i was reading guidance note and got stuck regarding entry for provision of excise duty on finished goods. as per guidance note following entry shall be passed on 31/03
p&l dr
to provision for Excise duty

suppose goods are sold on 15/04
debtors a/c dr
to sales
to excise duty payable

on payment
excise duty payable a/c dr
to bank a/c/cenvat
how to close provision for excise duty account. should it be reversed if yes then when .

urgenlty waiting for your reply
thanks in advance

Dear Sir

Thanks for Valuable Advise,
My Query is that in our Company,
We have Opening Provision of FBT i.e provision For Fringe benefit tax.
So What is the Treatment of this in the Current Year.

Hy friends,

my CA final attempt is on this NOv 11 and i have certain doubts about hte applicability of the IAS in the exams. please let me know whether IAs or As has to be done ?.and which As has gone throught the changes in the last year . and whr can i find those ammendments in simple language with Illustraation.

Thanks and regards,
NIshant Chakrawarti

DEAR SIR,

suppose ABC COMPANY HAVE A EPC CONTRACT WITH XYZ COMPANY. THE TOTAL CONTRACT VALUE IS 10000.WE WILL HAVE TO PAY 10 % AS AADVACE FOR MOBILISATION OF EQUIPMENT. SO WHICH ENTRY ABC SHOULD TAKE FOR 10 % ADVACE PAYMENT.
THE ENTRY WILL BE.

LOAN AND ADVACE ACOOUNT DR.

TO XYZ A/C.

AFTER PAYMENT

XYZ A/C DR ,
TO BANK.




THANKS AND REGARDS,

AVINASH KORDE.

I AM LAW STUDENT BUT NOW I DOPED IN CAUSED OF MY JOB'S AT LAWYER OFFICE I NEED A DIRECTION WHAT I SHALL DO FOR MY CARRIER OF ADVOCATE OR ACCOUNTANT PLEASE GIVE ME ADVISE I CONTINUE TO LLB AND I WISE TO ME JOB AND GET BETTER JOB OF ACCOUNT, WHAT I DO CAN'T UNDERSTAND...

Dear sir,

i want to ask about accounting entry.
suppose ABC COMPANY have to pay Rs.1000 to xyx company AS PER AGREEMENT(I MEAN ABC WILL PAY RS.1000 TO THE XYZ AFTER 10 YEAR. FOR REMEMBER THE AMOUTN OF RS. 1000.WHAT ENTRY ABC TAKE IN HIS BOOK. ).so waht entry will be take ABC COMPANY IN THEIR BOOOK.