Out standing Debit balance as advance given
hi,
What is the treatment to be done where there is an outstanding debit balance of a ledger which is in the nature of Advance given to a person and which is due from a long time. What is the entry to be passed to remove that debit balance and what would be its impact on Profits of the company. and which sections of IT Act would be applicable.
Plzz clarify.
Out standing Debit balance as advance given
hi,
What is the treatment to be done where there is an outstanding debit balance of a ledger which is in the nature of Advance given to a person and which is due from a long time. What is the entry to be passed to remove that debit balance and what would be its impact on Profits of the company. and which sections of IT Act would be applicable.
Plzz clarify.
Out standing Debit balance as advance given
hi,
What is the treatment to be done where there is an outstanding debit balance of a ledger which is in the nature of Advance given to a person and which is due from a long time. What is the entry to be passed to remove that debit balance and what would be its impact on Profits of the company. and which sections of IT Act would be applicable.
Plzz clarify.
Accounting for import purchases
At what forex rate the import purchase should be recorded:
1.Rate which prevails on the date of invoice.
2.Rate which prevails on the date of Bill of entry.
3.Rate which prevails on the date of receipt of goods.
4.Or any other rate?
- Acquisition of a society by a company
- EPF withdrawal before 5 years and Disclosure in ITR-2
- Rebate Under 87A Issue
- GST Applicability on Fair Price Shop Commission Income
- ITC Utilization on vehicle repair
- Transfer of immovable property without consideration
- Gratuity not yet paid shown in form 16
- FORM 115BAC
- HRA in ITR 2 FY 2024-25
- 2.25 CRORE TRADER, NO CASH TRANSACTIONS,3CD APPLICABLE?
- Mis report in excel format of hospital
- Updation Required
- Tax invoice in special case
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Composition Dealer GST Annual Return Filing process
- GST on Restaurant service
- Revision under Section 264 in The Income Tax Act, 1961
- TDS under section 195.
- Filing GST Returns after death of proprietor
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
OR add as source on Google news
CAclubindia
RELATING TO CENVAT