Invoice received for FY 2022-23 in FY 2023-24 for individual his making construction of house and maintained by books of accounts by individual , May be any consequences for booking this invoice in FY 2023-24

Dear Sir/Madam,

In AS 14 we were taught an adjustment that when prior to absorption the purchasing company sells some goods to the vendor company it has to create a stock reserve to reducve the value of inventory by adjusting goodwill or capital reserve after the absorption is completed

we were also taught that the 2 conditions necessarry for making stock reserve are

1) the seller should earn some profit on the goods sold
2) the goods must be returned back to the seller

however when a vendor company sells goods to purchasing company at some profit prior to absorption the profit is distributed among its equity holders at the time of absorption and as far as purchasing company is concerned

1) neither it earns something on such purchase
2) neither the goods are returned by it to anyone

still in our study material module ICAI has advised us to create a stock reserve in the books of the purchasing company

please guide for the rationale followed by ICAI behind this adjustment

Why is capital redemption reserve treated as reserve and not provision though it is created for a known liability?

Where will be the loan provided by trustee to the trust be shown in the finanacial statements. (Short term unsecured loan)

If expenses incurred at plant site regarding painting on wall at manufacturing plant. Like writing on Building name like admin Block and other site names then which GL will be tag for the expenses.

One of my client holds a lumpsum amount of Reward points which he redeemed to purchase a laptop worth Rs.55000, How can it be accounted ? He has not yet recorded the personal purchases he has made on Amazon as it was from his personal wallet.
What will be the G/L entries to be made to record the same.

while generating the 24Q4TDS revised return, getting an error message like: T_FV_6351 Applicable and Mandatory for Financial Year 202324 onwards 'Other special allowances under section 10(14)'.
even if we delete the entry, it will show this error.

Hi I am planning to record my personal account details in an accounting software, So kindly suggest me for following.
Under Which group should I create Gross Salary, Net Salary, PT, PF, Medical insurance ledgers & how should I post the entry when I receive the salary from my Employer?

Hello could anyone please help me with the below query?

We collaborated with a subcontractor for a job, and on their behalf, we directly paid wages to their workers. Now, in light of this advance payment, we're considering issuing a debit note to the subcontractor. They will eventually invoice us for the full job work including GST. As of now, they've only invoiced us partially, with the rest to follow upon completion of the job. When preparing the debit note, should we include GST or not?

we have received turnover discount from our vendor of Rs 15,00,000/- and they have adjusted the amount in total balance payable, how should we pass this entry in our ledger