Salary related to past year paid in current year, in the past year's have not accounting for this salary.
(this salary related to increment in salary which pay with retrospective effect)
and the reason of increment is strike of labour for increment. please advice me for accountig for this arrear salary.
(this party under tax audit)

Dear Sir, I am an employee with a partnership firm, I used to withdraw my salary only for the amount I require, I was assured 12 % interest on the remaining amount at the year end, but now they are telling that interest cannot be given on deposits from employees. It it true ? In the books of account they have deposits/ loans from relatives, and they are giving 12% interest on that amount, but not on my deposit. Is there any rule which says not to give interest on employee's money with the firm?
Please help in this regard.

What is the logic behind the Initial Recognition Exemption?
When any land is purchased and recorded in the books, it does not affect both accounting profit and taxable profit. So, can it be considered that no DTA/DTL is to be created on it?

Hi
We are buying 150,000/- worth of goods from china and we paid by TT for the same.
Bank charged 250/- as TT charges. again, we paid 3500/- as shipping cost to the supplier.
How can i enter both expenses ?
Shall i include TT charges and shipping cost in Purchase value or do i show it separately under "bank service charges" and "Freight charges " respectively ?
Please suggest me through Journal entries

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HelloHow do I make accounting for a jewellery shop ? The purchase is made and the rate is fixed later on. For eg I buy 100 grams gold today the rate is ₹2000 and tomorrow I make the payment while the price is ₹3000. Please suggest me any reference book if any. Thank you

Hello guys. I recently bought a Honda city car. It was a OCTOBER 2015 make, the dealer received the car in December 2015. I was offered a discount of ₹1,00,000 from May 2016 price list. But on the invoice there's no mention of ₹1,00,000 discount. Moreover I have November 2015 price list. The price mentioned on the invoice is ₹11,79,240 and price list of November 2015 shows ₹11,69,300. The difference is 9,940.I bought the vehicle in May 2016.I feel the vehicle has been invoiced as per December 2015 and discount has not been given. Please share your views.

Dear All,

I have confusion about purchase entry in following case:

Excisable Raw material Purchase Bill Date is 31/03/2016
Material Received Date is 05/04/2016

Here following Query arise:
1. Date of entry Taken

2. Excise Credit Taken Date

3. VAT credit Taken Date

4. Stock effect.


Can any one help me to solve this problem.