Dear All,

Kindly clarify the below query.

For salary calculations number of working days is considered. For calculation of reimbursements like LTA, Medical Reimbursement is also based on number of days worked or it will be credited to employee salary fully.

SINCE WE ARE PROVIDING WAREHOUSING SERVICES AND IN THE FINANCIAL YEAR 2010-11 AN ADVANCE AMOUNT OF 17500 RECEIVED FROM OUR CLIENT WHICH WAS DIRECTLY BOOKED INTO THE WAREHOUSING INCOMES INSTEAD OF ADVANCE RECEIVED FROM PARTY FURTHER WHEN THE SERVICE COMPLETED THE FINAL AMOUNT DID NOT ADJUSTED WITH THE ADVANCE AMOUNT RECEIVED AND FULL PAYMENT AGAIN RECEIVED FROM THE CLIENT IN THE FINANCIAL YEAR 2010-2011 ITSELF. NOW IN THE FINANCIAL YEAR 2011-2012 IT IS COME TO OUR NOTICE AND THE EXCESS AMOUNT OF 17500 IS TO REFUND TO THE PARTY.
SO PLEASE CLARIFY THE ACCOUNTING TREATMENT AND ANY TAX IMPLICATIONS IF WE REFUND THE AMOUNT IN THIS YEAR AS OUR CORPORATION HAS PAID 33.33% TAX ON SUCH INCOME.

Is it necessary for the holding Company to consolidate the accounts of its subsidary Company in its balance sheet?

If yes, then please send me the format of consolidated balance sheet

Thanks in advance.

In the financial statement, the figures of gross profit are derived by deducting the Income from Sales and services minus the costs of services. When the cost of services is arrived at the increase/decrease stock intrade is shown. the increase in stock in trade is deducted from the cost of sales. The logic behind this may please be explained.

What is difference between depreciation as per income tax & depreciation as per Company Act.

Plz, advise for the following accounting entry...
If existing Shares call UNPAID and Co. declared BONUS Issue.so It will first Set off Against Unpaid calls and then as bonus form of dividend ..Then what will be entry in an Individual's Books of Account??
Thank you..
hv a nice day

A company amount paid as security deposit to one of the service company then there was lot of transaction between both company ...
My question s how do show the security deposit and other transactions in Tally..

My Client having total Prof receipts Rs. 16 Lacs. Total income truely decleared Rs. 965000/-. Tax adjusted with TDS and there is refund of Rs. 21500/-. 100% income through Bank. But there is cash expenses.
His cash balance now showing negative of Rs. 190000/-. His source of cash expenses is cash received from spouce. but he is not ready to show it as a gift or uncecured loan. There is no manipulation in accounts.

Please suggest me how I generate required cash so that no additional burden would arise and cash balance also be positive.

whether advance rent is taxable in the year in which it is received?

what is debit?and what is credit?