Sir
I have one invoice to my customer s.1,000,000/- as on 31/03/11 and the customer already close there a/c (31/03/11) but i have to book this invoice on 31/03/11.is it possible or not, if possible what are the entries i have to pass. (sales invoice)

Sir,

I am working as a Br.Accountant in Pvt Ltd co. I want to know how many years books of accounts has to be kept.

Thanks & regards,
JHR.

In F.Y. 2010-11:

Opening Balance:
Provision for IT 20,00,000/- Cr.
Advance Tax : 10,00,000/- Dr.
TDS Receivables: 2,00,000/- Dr.

Self Assessment Tax Paid on 30/09/2010 : 13,00,000/- ( including 2,00,000 Interest u/s 234 B & C)

Following entry passed:
Provision for IT Dr. 20,00,000
To Advance Tax 10,00,000
To TDS receicables 2,00,000
To Self Assessment Tax payable 8,00,000

Self Assessment Tax Payable Dr 8,00,000
Interest on IT Dr. 2,00,000
Income Tax Dr. 3,00,000
To Bank 13,00,000

Is this correct?
Under which group Interest on IT will be accounted for?

can any group of company prepare consolidated accounts voluntarily i.e. even if it is not required to do so as per AS 21 and there is no acquisition of group co. by the parent co.

sir , I doing the trading of sale or purchase of machinery and jobwork. last year one mahcinery shown in stock. this year I want that this machinery t/f in fixed assets because I need this machine in production. I use tally 9.2.12 Please tell me how I can t/f this machine fixed assets.whenever no mahine purchase in this year. Please solve my problem.

Dear Expert

In our Pvt Ltd Company Balance sheet show Unsecured loan from director and relatives approx Rs. 4 Crore and we want to convert to equity capital

Please give details procedures and other related issue like accounting entries roc filling etc

Thanks in Advance

I m doing my water treatment plant manufacturing business as a sole propritership. Now i need to start IT consulting business with the same propritership and with the same company name? Is it possible to do? If yes then what is tax procedure and accounting effect?

Hi,

Can any one guide me on accounting/tax treatment of following 2 cases

1) Processing fees, stamp duty etc on acuiring Bank line or

What if the line taken from a NBFC?

2) Processing fees and Stamp duty on loan securatization?

Regards,

Any structure which is make for machinery (like Platforms .stairs etc) is capitalized under head plant and machinery or building

HI, plz clarify
expenditure recorded:FY- 2009-2010
(TDS not deducted)
TDS Paid on the above:FY- 2010-2011
as no liability appears in the books for the above. can the amount paid as TDS be debited to rates & taxes account instead of TDS account.