My brother sold residential house during the year 2015-2016 financial year and works out capital again of Rs 650000 and filing it return in this monthMy qtn is whether he can avail basic it exemption of Rs 250000 and pay 20 tax on balance amount since he is having income 54000 for the above and also he is senior citizen pl suggest

Process of consolidation of Asssociates

i) First year Associated company incurred losses. let 30,00,000
and
ii) Second year company incurred profits. let 70,00,000
iii) there no concept of pre acquisition profits since investment (let 3,00,00,000) made immediately after incorporation.

How Consolidation do for 2nd year

When the bad debts are recovered, the seller enters the journal entry as Cash a/c dr
To Bad debts Recr
My question is what will the buyer enter in his books of accounts for the above situation. Please tell with explanation.

whether air conditioner(AC) can be classified as "Office equipment" or "Plant and Machinery" in accounts

Dear All,

This is my general query to all, pls tell about eligibility of Input Tax Credit. In any business which I T C can be taken or which is related to only business.

thanks

I received Cash and cheque as fees in school. Can i make one slip or make two slip. its possible or not
Please help
Read more at: https://www.caclubindia.com/

What is the relevance of "ASs are intended to apply only to items which are material"??

Sir,
Laptop battery,mouse etc purchased by a website development company... can we treat it as part of ASSETS or charged to P&L account as part of REPAIR&MAINTENANCE?

Hello everyone...

We are having a branch in the same city as that of the HO. Having same GSTIN for both. We are showing the transfers to branch as stock/branch transfer. So no gst at the time of transfer. Showing the tranafers at shop selling rates.

I want to know the value at which the stock sent to branch will be shown in tally in the books of HO. And what will be the amt that the branch will be remitting to HO ??

can some one tell me how to account news paper papering press running what about sale of paper of daily and purchase


regards