dear sir,

i have received bill dt 31/03/10 which i charged / reimbursed to my party in april - 10. what entry may be passed on 31/03/10 ?

Hi expert,
how should the Order no. be done in Purchase order does it start with 1 or is it a code & does it change from year to year or continue the same

Please reply

can any advise on following: one Company has purchased machinery worth Rs. 3 crore as on 01.06.2009 and put to use date is 25.03.2010, meantime company has paid intrest on term loan of Rs. 5 lacs and processing charg for term loan Rs. 4 lac, wheather the above said asset folls under the definition of qualifying asset, and interst and bank charges is eligible for capitalisation within the meaing of as 16. and what disclousre is to be made in audit report.

Hello Sir

My query is very much common like any other queries related to TDS

I have received a debit note from my clearing agent ( C & F Expenses ) it is specified as below

For example

Reimburrsement Cost : 20,000.00
Service Charges : 2000.00
Service Tax @ 10.3% : 206.00
___________
Total : 22,206.00

On which the tds has to be deducted Either on the entire bill total i.e Rs.22,206 Or Rs.2,206 or only on Rs.2000.....

Awaiting for your rply, your earliest rply is in need...............

A private limited company dealing in Electronics product and at the end of the year company has decided to show some of regular purchase of product as Fixed Assets. however company has fillied Annual VAT return..
Is it Possible?

Sir,

Return is not filed for an employee as his Total Salary is less than Rs.160000/- but Form 16 can be issued without mentioning the Acknowlegment no. in it.

Dear Experts
I need you kind guidance in belowmentioned points.

1) what is the proper full entry for free samples distributed to create new orders/customers (the entry which affects stock as well as accounts )

2) being a hosiery manufacturer I wish to distribute 2 sweaters to my each employess on diwali ? what should be the full entry in accounts (which also effects stock)

3)if we draw a bill for the strange customer to whome we donot know and wish to receive all the money in cash lets say rs 100000.00 in one cash memo ? what are my obligation towards income tax ?

4) similarly if we purchase a capital asset in cash is it permitted in income tax if yes to which extent it is allowed?

5) One of my client started business in Computers. He purchased 100 computers from his relative for rs 1800000. The relative told him not to pay that much amount as it is in blessings from him for bright careers. What would be treatments in books of both as well as I.T. treatment in assessments


Regards
Vidya Sagar Shukla
accounts.perfection@yahoo.com

A Co. manufactures medicines. It sends
some medicines as free samples and sent them to dealers and doctors. I want to know what entries will be passed for these samples in the books and co. and dealers.
Please reply.
Thanx

Sir
In case amalgamation of parnership firms do we have to open Profit & Loss Adjustment A/c for revise in the value of Assets & Liabilities or we can pass the entry By Debiting/crediting the Asset/liability and corresponding adjustment is made in partner's capital A/c .I mean to say is there any requirement of opening P/l Adj A/c.I am asking this from exam point of view .If i had not opened the P/L adj A/c & directly credited to parner's capital a/c ,whether i will get any marks for it

Hi all

Why Closing stock Will not Come in Trial Balance