My company has given Advance Salary to an employee Rs. 20,000/-. His actual salary is Rs 13,000/- per month. My company is deducting Rs. 2,000/- per month from his salary against the Advance salary. Kindly tell me how to show these transactions in tally ?

sole proprietors in India use a current account for their business, rather than a savings account, to avoid interest.

I don't understand why — if you account for the interest properly and pay tax on it, it shouldn't be a problem, right? I won't have a transaction every day on this account, so a savings account should be fine. I see no reason to refuse the interest if I can earn it and, worse, pay more fees for a current account.

Is a sole proprietor not allowed to earn interest from a bank account?

we have received invoice dtd. 13.03.18 for rent for the period from mar 2018 to feb 2019 from owner. we have issued some CDC AND PDC to the owner. Could you please let me know what journal entry to pass for this transaction ??Thanks

Can a director of private company take loan from same private company without showing details to ROC.
And
Can a director of private company provide loan to same company without any restriction

SIR I WANT TO KNOW ABOUT THAT I HAVE NOT DEDUCT TDS ON JOBWORK AND MY JOBWORK AMOUNT IS
1150000/- IN THE F.Y IF I WILL NOT DEDUCT TDS THAN HAVE ANY PROBLEM AND HAVE ANY PROBLEM THAN WHAT SHOULD I HAVE DONE

Sir,
We are running A ad agency with Turnover of Rs 1 crore per anum..
Please confirm can we book WHOLE SALES INCOME in current FY when AD CONTRACT period is started in CURRENT FY & GOING TO EXPIRED IN NEXT FY ?

Dear Experts,

Please guide, how to determine the value of imported goods in the following case:

01/03/2018 - Advance payment done - USD 1000 - Exchange Rate @ Rs.65/- - Value Rs.65000/-
07/03/2018 - Goods imported - Customs rate - Rs.64/- - Value Rs.64000/-

How to account the same in books? What is value of goods imported either Rs.65000/- or Rs.64000/-.

Dear sir,

our company transported through cargo ship from Port Blair to Chennai , we have received the invoice for transportation of material amounted Rs.26,599/-.

My query is, any TDS will deduct on this invoice or not. and what is limit for TDS on Transportation & % ?

Dear Sir,
We have purchased 5 truks for transporation of our finished goods to our party point . Now we have decided to lease out the trucks to a transporter . Who will pay all the expense relating to the trucks like payment of EMI, truk driver salary , truck running exp.
Now my question is how to deal with this case ?
I am thinking that we should charge from him the lease rental and he will charge from us the transport freight .
Pls advise

1) If a football league receives sponsorship money from its related party, how should sponsorship money be accounted in the books of account of the Sponsor and the receiver of the sponsorship ?

2) Under what section is TDS required to be done on the payments made to the players ? Does it make any difference if the players are not residents of India as per Income Tax provisions ?