A Person holds an Immovable Property since a long.Book value of such property is Rs.3 lakhs. market value of such property is Rs. 30 lakhs. stamp paper is also made on the basis of market value, i.e. 122700(4.09% of 30 lakhs).
Now that person wants to transfer such property by way of gift to his son.
advise me on which price i.e. market value or book value i should record such property in the books of his son.

pls tell what is online finalization of accounts ?

what is duty free shop in excise

If X sells goods to Y for 10000 on credit and PAYS Rs. 1000 as carriage to Z (transporter) on behalf of Y.


then what entry will be passed in X and Y books?

Regards

What will be the accounting entries for gift of immovable property by a mom to her daughter (relative as per AS 18) kindly mention entries in the books of both donor and donee. And also amount at which recorded ie market price or historic price. Thanks in advance.

explain about catastrophe reserve,why it is created?

i need the depreciation rate as per the co., act and income tax act - FY 2015 -16

WHAT SHOULD BE ACCOUNTING TREATMENT FOR TRAIL PRODUCTION OF NEW PRODUCT FINISHED GOODS (NOT PLANT).AFTER TRAIL PRODUCTION FINISHED GOODS IS NOT SALEABLE.THE FINISHED GOODS CONSUMED THE RAW MATERIAL LIKE SUGAR,MAIDA GHEE ETC....FOR YOUR KIND INFORAMTION PLANT IS NOT NEW IT IS OLD,ONLY NEW PRODUCT IS EXPERIMENTED WHICH IS NOT SUCESSFUL SO THE WHAT IS THE TREATMENT FOR RAW MATERIL COST.

Sir i am a retailer nature of business is sales and service of lpg spare parts like burner stove etc i have recd 2 Lakh as a commission from other verious jobs my question is can i show commission income in my accounts is there any tax liability on comm income please advice

kindly suggest me how to calculate leave cutting

For eg if salary provided to a admin staff is Rs.10000/- p.m. He took leave for 10 days
then how much he get as net pay ?

10000/26* 20
or
10000/30*10