Sir,
A person accounting records maintained for hospital.advance fees collections from patients rs:10 lacs show in books.
Question:
Advance fees collections received from patients accepted in it act and how the accounting entry passed in books.

Company has paid huge amount of VAT during 2020-21 for earlier years, which were not outstanding in current liability, because of which now it is affecting current year's profit.

So, whether to show it in Profit & Loss Account because of which books of accounts is showing huge loss
or
can we directly debit to Reserves and surplus without affecting Profit and loss Account of the current year
or is there any other accounting entry option as we don't want to show loss on face of P & L?

Sir,
Our management providing cash to us for maintaining the daily expenditures like purchasing the nut bolts etc...
But the management transfering the amount to my bank account.
How can I show the expenditures in my company books.
Please suggest me the entries.

How to record previous year unrecorded loan to liability to balance sheet & its repayment by a firm

Sir,

I have received free samples of 10 quantity at a nominal price of Rs. 100 ( issued separate invoice by the supplier) . How can I account the same in my company books of account.

Sir,
It assessee sb bank account show in it returns every year(up to f.y.19-20).but assessee f.y.20-21 download AIS and TIS information details mentioned below.
Bank sb account-1 rs:1,25,136/- balance
Bank sb account-2 rs:1,89,450/- balance
Bank current account-3 rs:56,269/- balance total bank opening balance as on 01-04-20 rs:3,70,863/-
Question:
Assessess three bank accounts amounts opening balances treatment cash deposits transaction or capital investment accounting entry passed in books f.y.20-21.

Hi sir. We are facing a typical case in statement received from contractor on utilisation of mobilisation advance. Client has provided interest free MA to Contractor for the costs of mobilisation of resources.
The WO was given in Sept 2019 and MA was released in stages in Oct 2019 and Aug 2020. However, the works were delayed due to COVID pandemic, plot handover by Client etc. The works commenced in Jul'20 post receipt of all clearances and contractor started receiving payment for work done through RA Bills from Nov'20 onwards.
Now, contractor was asked to submit a detailed utilisation statement of MA released by Client. In the MA utilisation statement submitted by contractor, (i) the salary of staffs during COVID (ii) a fixed amount for each month as HO overhead from Apr-20 to till date (iii) The premium paid on mobilisation BG / CAR policy etc.
Can the salary, HO overhead , premiums as claimed by Agency can be considered as a part of the MA utilisation statement?

Sir,
One of the it person cash withdrawal family expenses and hand loans to friends rs:8 lacs payments through on bank mode account (Google pay and phone pay and imps modes ) pay one financial year.
Question:
A person family expenses rs:3 lacs remaining balance amount rs:5 lacs cash withdrawal transactions cash in books treatment account entry passed in books accepted .

Dear Sir

Our company is registered under the ESIC & PF ACT in maharashtra
We have taken work for Electricity Earthing in our factory, for the this work we have received bill from contractor labour + material cost including.

whether we have to pay the ESIC on his bills or not.



Please help to understand the same

Dear Experts,

Let us explain to you that, our two entity (India and Singapore) Company has bid through Joint Venture. We get the project through joint venture. Both the companies work in the same project, but the client will pay only one of them. We issue invoices from India, as there is DTAA in India and client country. My question is how will we pay to Singapore company, as both are working in client place. Can anyone explain the procedure, how we can do payment/fund transfer (certain %) from India to Singapore.