Dear Sir,

A person engaged in business of selling of agricultural product ( Wheet, paddy, Cotton) on commission basis ( arthia), i.e., purchase agricultural produce from farmers and sale it to market via KRISHI MANDI, now my inquiry is that In Which Group we make the ledger farmers under Sundry Debtors, Commission Under direct income and seller ? Please advise

As per related party disclosure we have to disclose the transaction value. I have a question that the amount of transaction value would be inclusive of GST amount or exclusive of GST.
For Example if transaction between related party for sale is Rs 100000.00 plus gst Rs 18000.00 should we disclose Rs 100000.00 or Rs 118000.00 as transaction value.

Dear Sir

A person engaged in business of selling of agricultural product on commission basis, i.e., purchase agricultural produce from farmers and sale it to market via KRISHI MANDI, now as per current notification, no expenses shall be paid in cash in excess of rs.10000. does this transaction of payment for purchase includes in that payment, can he pay rs. 100000 in cash to those farmers ?

My company had purchased a machine from China, due to non performance we complained to the machine manufacturer, he has sent replacement parts for the machine for free, we have paid import duty for the free replacement parts received, but we are in dilemma how to show this transaction in books ? how to account for replacement part and where to show import duty paid ?

There is Small Tailoring Business and there is no current account of the firm.
Turnover is 12,50,500.
now The Proprietor Do all the transaction by his saving account.they made all the expenses and all his income earned from his account.
so can he show his saving account closing balance under asset Side of his business balance sheet??

can we add the accrued interest on fixed deposit in the 'Fixed deposit account' ?

Sir,
For calculating taxation on mutual fund ,indexation required to do or not. Sir, For identifying short term /long-term capital gain on mutual fund.Sir we have to consider 36 months or 12 months . Plz advise .

I want to prepare Capital A/c of sole proprietor. Kindly tell all possible content of Debit side and Credit Side of Capital A/c of Sole Proprietor. Can i add interest credited on saving or current bank account to credit side of Capital A/c? Also please tell if i Debit following items to Debit side of Capital A/c: Premium on Insurance, Tution Fee, Mutual Fund, PPF etc.? Thanks in advance.

Hi Expert,
It is a request, please help in this entry Tax filing fees and audit fees of chartered accountant in which head of profit and loss account.

Thanks & Regards,
Mohd Nasruddin

1) Does trust needs to mandatorily charge depreciation on their fixed asset..?

2) Does trust have option to do accounting as per cash basis or accrual basis..??