shahzada perwez
25 August 2024 at 18:55

Int. from s/b a/c

how to make entry of interest from savings a/c in pl&b/s


Shailendra Kumar
22 August 2024 at 12:09

Calculation of cost of flat

Sir,
While calculating of cost of flat for fixing the %age of ownership among the parties, can we add : interest on loan taken for payment to builders
Bribe given for approval of loan
Bribe given for getting the flat register
as adding these expenses, the %age of one partner increases and others reduces. Previously there was no agreement between parties on %age issues.


K.Devan
21 August 2024 at 12:51

PF and ESI on Incentives payments

Dear Sir

Based on sale turnover in order to encouraging our hotel staff we are paying monthly incentives approximately Rs 5000/.
Any statutory such as PF ans ESI attracted for this amount. We are paying Income tax for this .
Kindly clarify.


Mahesh S M
21 August 2024 at 10:47

Fixed asset and Expense

How can I differentiate between a fixed asset and an expense? What factors should be considered for categorization? If I purchase something under Rs. 10,000 and it has a durability of more than one year, should it be considered a fixed asset?


pfcollect

Auto Dealership Car Vehicle Closing Stock Valuation : Is it right to Reduce Incentives like MAC , DRF to reduce from Year End Closing Stock ? Please guide as per IndAS
unsold stock ,to come at correct valuation ,is it appropriate to reduce MAC [Wholesale Incentive] & DRF from Closing Stock?


pfcollect

Auto Dealership Car Vehicle Closing Stock Valuation : Is it right to Reduce Incentives like MAC , DRF to reduce from Year End Closing Stock ? Please guide as per IndAS.Thanks


Mohamed yeaseen M
12 August 2024 at 15:40

Gift voucher- recording

How to record gift voucher given when sale exceed certain amount
1.if the voucher is claimed by us
2.if the voucher is claimed to someother company for the voucher of them


Yogendra Mishra
11 August 2024 at 21:20

Is income tax is a indirect expense

Income tax is a indirect expense or current liability.


R S Sai Kumar
07 August 2024 at 19:32

194R treatment in accounts

One of my clients is a trader in computer goods. Purchases were made from HP India Sales Private Limited. In 26AS Under Section 194R - under paid/credit Rs.61,160 is appearing and TDS of Rs.6,116.07. Kindly suggest me mode of treatment of this in books of accounts.
Waiting for reply
R S Sai Kumar


Bapun Dasgupta
02 August 2024 at 15:25

Treatment of Bank Guarantee

Our organisation has accepted a Bank Guarantee from one of it's vendors in lieu of Security Deposit payable by the vendor to our organisation for work order related to services rendered to our organisation. Kindly let me know the accounting treatment and consequent disclosure in the financial statements. We are not a Company, it is an organisation exempt u/s. 10(23C)(iv) of the Income Tax Act, 1961.

Regards.






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