If we have to follow only mercantile system of accounting then why do we mention in notes to accounts and in 3CD report that the compamy follows 'mercantile system'

Who can adept cash or Mercantile system of accounting ?

What is the major difference in cash and mercanile system of accounting ?

Can a company follow cash accounting system ?

please also tell when it can follow cash accounting and mercantile system of accounting ?

Who can adept cash or Mercantile system of accounting ?

What is the major difference in cash and mercanile system of accounting ?

Can a company follow cash accounting system ?

please also tell when it can follow cash accounting and mercantile system of accounting ?

I HAVE RECEIVED RS 100 /- AS PER BILL FROM A .

SAME I DISCOUTED WITH BANK BANK AGREED TO PAY 90/- RS 6/- KEEPS TOWARDS MARGIN AN RS.4/- TOWARDS INTEREST

BANK PAID AS PER AGREED TERMS THEN WHAT WILL BE THE ENTRIES FOR THIS

sir
1)please say that how should i calculate tds interest for period april to feb not yet paid tds amount is rs 74695.00 please say the formula and say what are the last date for payment of tds.

2) should the interest debited to party or shown in expenses.

what date should be consider for cal. interest if i pay tne amont dt 7/3/2009

sir
cha purchase agency with servicetax and as a contract and with agency charges there is a debit note attached debit note is for expenses occoured on the agency or claering the material payments up to today is upto 1500000.00one core fifty lakhs for both agency & rembursement and i have to deduct tds on agency only or i should ded on rembment. debit note please say tds 2.266 or 2.06 and if i pay the tds in april provision entry for tds for 31/3/2009 for tally how should it be accounted.

is entry right please say
PARTY AC DR
TDS FOR CONTRACTOR CR

dear sir

our one staff is paid salary 23000.00 per month should i deduct the tds if yes please say me the rate and the accounting entry in the books i am paying him 23000 from april to feb and jv will be passed for march
salary 23000*12=276000.00

aslo say the interest rate for late payment for tds

SIR
OUR FIRM IS A CHA PARTNER SHIP FIRM.WE PURCHASE AGENCY CHARGES FROM A PARTY AGENCY CHARGES ARE CHARGES SERVICE TAX
EG: AGENCY 1000
SERVICE TAX 104 TOTAL 1104.00
FROM APRIL TO DATE I HAVE NOT YET DEDUCTED TDS BEFORE MARCH END SHOULD I DEDUCT THE TDS @ 2.266% AND PLEASE SAY ME THE TALLY ENTRY FOR TDS.

ALSO SAY ME THE DATES FOR TDS PAYMENT UPTO WHAT DATE SHOULD I PAY TDS OF PARTY FOR EVERY MONTH IE FOR APRIL 09 TO MARCH 10 SO THAT IN NEXT FYEAR I WILL BE ON TIME INTHIS MATTER.

ALSO SAY ME WHEN SHOULD BY TDS DEDUCTEDSAY THE CLEARFICATION SO THAT I CAN DEDUCT TO OTHER PARTY ALSO

A limited co has purchased a machine for Rs.1.5 crore on credit. The terms of credit has not been fixed, so payment can be spread in more than one accounting year in instalments also. There is no agreement which creates any charge on asset.

Which is the appropriate head under liability side for showing liablity for purchase of asset. Is it correct to show under unsecured loan.

sir
i am an account writer please say the account WIP (work in prog) what does it mean and in which type of account should it be shown and what are its expense types.

i am writting a accounts for a building project he is a builder what is WIP and how is it calculated.please guide me.

regards