I sell goods online through snapdeal, flipkart etc. I'm currently assessed under sec 44AD. Snapdeal issues me a monthly commission invoice. I've a few questions : 1. Am I liable to deduct TDS u/s 194H? In my view since I'm assessed u/s 44AD, there is no liability to deduct TDS. 2. Can I book sales on net basis i. E. After deduction of commission or do I have to book sales first then show commission separately and deduct tds thereon?

calculation of depreciation as per schedule ii if an asset is purchased during f.y. 14-15.

i wanted to know if there is any change in the advanced accounts sylabus for November 2015 apart from the applicable sections of The Companies Act 2013 ?

Dear Sir/Mam,

1. If the residual value of an assets is Nil as per companies act 1956. but according to new companies act 2013, this is @ 5% of the gross value of the assets. Further the W.D.V. as on 31 march 2014 is Rs. 5000/- and the residual value of that assets is 8000/- then what will be the treatment of such assets.

2.if the residual value of an Assets is Rs. 5000/- and the WDV of such Assets is Rs. 8000/- but the remaining useful life of such assets is nil then what will be the treatment with such Assets.

Please send me your suggestion as soon as possible with proper provisions.

thanks.

Hello,
The situation is like this. A firm is supplying soap dispensers free of cost to its clients so that they can make the client purchase soap refills from the firm. The dispensers are already accounted as stock in the books of the firm. How can we account the transaction in the books of accounts using tally.

As the dispensers are of considerable value, the firm wishes to retain the dispensers so supplied in the books as fixed assets. The firm is using tally and wants to reduce item from the stock and retain it as a fixed asset. So using tally how can we reduce the quantity of dispensers from the stock and show it as fixed asset in the books

Thanks in advance

I am currently auditing the accounts of jewwellrs. problem is they send gold, purchased from individual customer for job work but the entry made for the quantity only, gold (raw) is credited but the amt remain same. now when the mat is received then mat receipt voucher for gold (fine)is created by quantity only so it is right & what about the amt outstanding in gold (raw) account. if any other treatment is possible please tell. because it affect the profit.

my question is if a contractor raise his bill for the month of apr15 on 5/5/15 so what will be last date of tds deposit 7/5/15 or 7/6/15

Date of Trial Production of a company 23-03-2015 to 31-03-2015

Date of Commercial Production is 01-04-2015

The stock that was generated during Trial Production till 31-03-2015 was sold after the commercial production in april 2015 and there is loss of around 31 lakhs for the stock sold.
what would be the accounting treatment for the same. whether the loss would be capitalised or to be treated as revenue expenditure ?
kindly guide for the same.

DEAR SIR

WE ARE PVT LTD CO. IN JANUARY 2015 WE HAVE GIVEN LOAN OF RS 200000 TO OUR EMPLOYEE. NOW HE IS RETURNING LOAN AMOUNT IN CASH RS 200000 IN ONE INSTALLMENT. CAN WE RECD RS 200000 IN CASH FROM HIM AS LOAN RECOVERY. CAN WE DEPOSIT THIS AMOUNT IN OUR CURRENT ACCOUNT.

THANKS & REGARDS

VIPIN KUMAR SHARMA

Hi
I need a help on TDS rate and section for obtaining Offsite Vault Services . We have signed a contract with vendor
Please help
BR
Manjiree