Dear all member,

I am writing here with high hopes!

The genesis of the entire situation is as follows:

Firstly: When a Joint Account was opened with a bank i.e A B C with anyone or survivor clause/mandate in the year 2005. The sole/ joint account holder (A) left for Uk and never returned to India. The operations of the said accounts were continued to be operated by (B) and the official of the bank.

Secondly: In the year 2007, the sole joint account holder expired in Uk and the rest of the account holders did not informed the banker of his demise and continued to operate the account same as ABC.

Thirdly: There were some investments made in the name of A in other banks (the deceased account holder) thereafter B and C closed the said investments in the year 2010 and received the amounts through crossed named cheques made in the favour of A. And subsequently depositing the said cheques in the Joint Account still ruining in the name of ABC and latter swindled away the amounts, so received.

My question is :-

Once the Sole/Joint Account holder has already expired in the year 2007, can the operation of the said Joint account continued by the other account holders in a case of anyone or survivor mandate?

As they kept the banker in shadow regarding the death of the sole account holder, does the other account holders attract any any penal charges and depositing cheques from other financial institutions that were made in the favour of A after his death?

Your precious advice is much desired.

Thank you so much.

list of things required or any checklist of details which are required to be performed for incorporation of a pvt co

Hello Friends
Please help me in accounting entry

Rs.2,25,00,000 invested in FD

Interest amount 01.04.2014 to 31.03.2015 is RS.10,52,297/-

Tax Deducted Rs. 139419.20

Interest accrued 341895.00

this FD has value as per TDS Certificate issued as on 31.03.2015 is Rs.22959369.90

How to pass entry in TAlly 9 for this transaction .

I have trial balance in excel exported from tally erp 9 version, now would like to make balance sheet. Please let me know the process in detail.

Sir,

I have a query regarding the stale chqs which is unpaid and showing in Bank Reco after 3 months.

Can we reverse the original entry of the stale cheque on the same date when it was issued ?

or the reversal is book after 3 months of the cheque issued.

ie.: if the cheque issued on 05.01.2015 and it staled on 05.04.2015 ... then on which date we will make the reversal.

Sir,
I am working in small partnership firm and we have taken cash credit facility from bank of Rs. 1 crore. How to make entry in tally? please advice us?

Dear Expert,

Please give me a solution for this transaction?

Salaries 30000
PF (10%) Employer Contribution 3000
PF (10%) Employee Contribution 3000
TDS 3000

What is the journal entry for this transction?

Hi,
We are planning to implement ERP in our company. i would like know which all cost we can capitalise out of below details:

License Fees
Implementation Fees (Consultants)
Travelling Exps (Consultants)
Internal Resources cost for this Project

Also if you can provide some AS reference will be helpful.

Regards,
Suman

IS EXTERIOR PAINTING OF BUILDING DONE AFTER 4-5 YEARS TREATED AS REVENUE EXPENDITURE OR CAPITAL EXPENDITURE?

We have a Wholly Owned Foreign Subsidiary. There is only one transaction of Sales in the Subsidiary which is made to the Holding Company. Should it be treated as Integral or Non Integral Foreign Operations ? At what exchange rate the Share Capital be converted to prepare Subsidiary's Financial Statements in INR ?

Request everyone to reply at the earliest

Thanks in advance.