Is it correct if purchaser issue debit note to return material?

A house is sold by Mr. R to Mr.X. At present electricity bill is in the name of Mr.K(expired) father of Mr. R. now as per will house is in the name of Mr. R and he is planning to sale to Mr.X ..So before registry Mr. R is required to get electricity bill in his name or not needed?

We bought solar panels and got 30% subsidy from government, how to pass entries in tally. how much amount to be capitalize and 30% where to transfer for Society books of accounts.

When the balance sheet to be signed by CA for insurance commission agent WHEN THE TOTAL INCOME IS RS.90,00,000.00

We as an Pvt Ltd Company.
Initially our Insurance Broker have paid to Insurance Company Premium.
Then after Insurance broker is claiming from us and we pay to Insurance Company.
In this case we are not paying directly to Insurance Company. We are received invoice from insurance company.

Please Suggest Correct Account Entry 1 or 2 below
as per Income Tax and Company Law:
________________________________
1.

(A) Insurance Exp Dr
To Insurance Company A/c Cr

(B) Insurance Broker A/c DR
To Bank A/c Cr

(C) Insurance Company A/c Dr
To Insurance Broker A/c Cr
__________________________
2.

(A) Insurance Exp Dr
To Insurance Company A/c Cr

(B) Insurance Company A/c Dr (No Matter payment is process to Insurance Broker)
To Bank A/c Cr

Is the cited subject in mandatory as of now?

last year balance sheet was made first time for an individual considering all assets investments and liabilities and on this basis capital arrived but one investment of rs. 20 lac was not entered in BS .So question is can we include the investment of 20 lac in current year BS and increase the capital by 20 lac.

Which Head for new Working Plant Which Head for Tiles & Plumbing Equipments

Is it okay to change the classification of a debtor to a creditor if the closing balance of the debtor is a credit balance?

Hello All,

Can some one help me with the Foreign exchange revaluation entry

I have booked the gain/loss monthly , but am confused about the revaluation entry as on 31st March