Hi all,

Is it mandatory to have Plan Assets for employee benefit (Leave encashment)?

Freinds please let me one think clear that a company is a proprietorship firm and his turnover is Rs.6500000 and comapny gives commission to our employee approx Rs.500000 so company is liable to Deduct TDS on Commission.

In an hospitality industry, we are going to renovate the building facade and there will be a civil work which will be involved in the renovation. There will be scaffolding (a temporary structure) which will be installed in order for laborers to reach the 25 floored building in order to carry out the renovation work.
-- Whether the expenses incurred on scaffolding can be capitalized in the books of accounts?
-- Whether the cost incurred on scaffolding can be considered as the cost directly attributable to make the asset ready for its intended use by management as the work cannot be completed without installing scaffolding?

Notes :
1. It is a renovation project and not the Greenfield project.
2. There will not be any expansion involved in the same.

RCM effective dates

sir
We are a firm, purchased a property in the name of Managing Partner of the firm on behalf of the firm from firm's fund, construct a building from firm's fund, claiming depreciation every year from 1996. now there is a reconstitution in the firm, pl let us know whether the retiring partner has right to claim share in the property of the firm.In the retirement deed we have a clause that " the retiring partner eligible to get the amount standing in his capital account only" Pl explain.

sir
we are a firm, we have purchased a property vacant land in the name of 3 partners (actual 5 partners) from firm's fund.We have constructed a building from firm's fund and doing the business in that building. We are claiming depreciation every year. Pl confirm whether the owner of the property and building is the firm or partners in whom's name the document was made during purchase?

Dear Expert

we have a patnership firm can we pay employees (2 Employees ) salary in via net banking some time. Salary each one 13000/- and second 14000/-

Please advise

if customer deducts TDS and paid net amount to vendor. then usually vendor at the time of closing of its books of account, book TDS receivable entry and gives credit to customer.

here the query comes: what Prudence Says ? at the time of closing of vendor books. TDS is not reflected in vendor's 26AS. there be a delay by customer in filling of its TDS return.

is it logical to book TDS receivable entry at the time of closing of books?

We have billed for subscription charges for Rs 20000+ GST 36000 in April
This revenue is spread over for 4 months ( April to July)
what is accounting entry for this

A person has taken over the business of another person which has long outstanding trade receivables. It is found that the amount cannot be realised any more. Now these trade receivables are to be written off as bad debts. Whether this bad debt can be adjusted against retained earnings? Kindly issue suggestions in the light of Accounting Standards.

Regards.