sir
is there any business law or bank condition that a small shopkeeper (proprietor) or professional must have bank current account instead of savings account for business /professional payments through cheques?

please clarify in detail that when and why current account is needed ?

during the year 2014-15 there was a cyclone and our factory buildings and machinery and stocks were damaged. we have applied for insurance claim. The claim was settled in the year 2015-16 by the insurance company. the insurance company has not accepted our claim in full and settled a part amount only. what are the accounting entries to be passed in the year 2014-15 and in the year 2015-16. please clarify

Sir, In a month of March. wrongly sale @12.5% shown in sale@5%. and vat paid on sale @5% but now we correct the entry. then which entry pass in book and how we adjust vat entry with interest amount.

Dear Members,
I would like to be advised on the following : a) how far it is correct to pass accounting entry for Incentive Received from M/s Concor by Crediting the Expenses Head as M/s Concor ----- Dr to Expenses----cr b) Secondly, M/s Concor has not deducted any TDS while remitting the Incentive of Rs.130000/=calculated @ of per container basis, the reason therefor. Seeking professional advice on the above. with Rgds., Raja Ghosh.

Dear Friends





I need to know that when we receive cheque on 01-Apr-2015 dated 20-Mar-15 and we deposit it in our bank on 05-Apr-15, then on which date we pass entry in our books?





LIkewise when we issue a cheque dated 10-Apr-15 but it is handed over to the creditor on 15-Apr-15, then on which date we pass entry in our books?



Also please tell the entries in both cases in our books.

car sold @-170000 on 30.11.2014
WDV-145000 on 01.04.2014

new car purchased @ 8000000 on 1.12.2014

now on what amount depriciation is charged on 800000-145000-25000(loss)=630000
or on the amount of 800000 for 4 month plz explain
it's urgent

hello sir,
i have a query relating to company act 2013 dep (life of assets). for example:-

purchased a air conditioner in my company .
as on 1 april 2013 41500.

dep.for 2014-15 as per company act dep will be..... as per sec 32 dep will be 15% ......

then how to treat the difference ?

if depreciation as per sec 32(15%) is more then dep. of company act 2013 policy .
then should i claim 15% dep ?
Regards
jitendra

DEAR SIR

PLEASE BRIEFLY DESCRIBE RATE & RULE OF DEPRICIATION AS PER COMPANY ACT ON PLANT & MACINERY.

REGARDS

VIPIN KUMAR SHARMA

what is the provision

Dear Respected Sir
our Company my director taking home loan,this home loan entry showing comp.books of account