Suppose one business man sale for first year is Rs. Ten Lakh & Net Profit @ Ten Percent for Rs. One Lakh.

Second year purchase furniture for Rs. Fifty Thousand from last year Profit. Depreciation on furniture @ Ten percent for Rs. Five Thousand debited to profit & loss a/c. Due to furniture is purchase from last year that’s why depreciation debited to Reserve & Surplus. Lots of people say depreciation of this year expenses, I agree but in profit & loss account only depreciation is single expenses is not paid for the year or not payable for next year. Now position is year end Furniture value is Rs. Forty Five Thousand & Business Man collect money from market for this furniture is Rs. Fifty five Thousand. This gap is increase every year. Business Man show compering to last year profit is ratio is decrease that why business man decrease expense or increase sale price, that why Unemployment or Dearness is increase every year.

Thanking You,
Shailesh Kanth

Kindly advise karnataka Professional tax monthly deducted from Employees what is the due date and where can we get the notificatin in website

Hello Sir/Madam,
Vehicle fancy number can be capitalized or it can be considered as fixed assets in the books of account , please guide me.

Thanks
Rocky

Dear Respected All,

Greetings!!

Actually my query is that the depreciation on mobile As per Comapny Act SLM - 4.75% WDV-13.91/-. However i have seen on depreciation working sheet that one of my C.A. calculated depreciation @45.07% on Mobile. Now i wanted to know why depreiation @45.07% has come on mobile ????

Regards,
Narendra Wod

Dear Sir/Madam

A staff received Maternity Leave salary from ESI and we have to file ITR. in ITR where should we shown this Leave salary.

i received one freight bill on that tds is rs 158 , later on we receive credit note for freight bill tds is rs 5/- on that , what is the net payable tds , according to me it is 153/-. please confirm. Bill date for both the invoices is november 2020

And how to book these transaction in genius software means invoice as well as credit note , please clarify.

below mentioned requirement from my Banker for DP

Company to reconcile and declare total Creditors amount and bifurcation (nature) in Stock and Book debts statement

I presume book debts refer to S. Debtors,
Bank is asking Reco of S. Creditors &declare in Book debts statement
Please guide in this regard
Thanks

Police Clearance Certificate (PCC) account head tell us whether it should post as office administration expenses or Staff welfare expenses

Facts : Bajaj Finance is giving loan on car/vehicle tyres. We are dealer of tyre. If I issue bill of Rs.100 to customer, bajaj finance will give me Rs.100. Later, that customer pays Rs.100 + interest to Bajaj Finance. We issue bill in the name of Customer. Bajaj Finance is giving monthly bill to us under name "Subvention charges" and charge GST on it. In GSTR-2A Subvention charges 135890.69, CGST 12230.16, SGST 12230.16

Question : If we want to utilize that ITC (GST) then such subvention charges should be debited. Now what entry we should pass ???

By Subvention charges Dr
By CGST Dr
By SGST Dr
To ?????

Since neither we have paid any money nor we liable to pay to Bajaj Fianance.

What should be the accounting treatment of Stamp Duty on purchase of Mutual Fund both in Corporate A/c and Individual A/c. Please Advise