Dear Sir/Madam,

I have came across a query during audit regarding which I wants to take an opinion.

My question is:-

When we are dealing with the party which is our Debtor as well as Creditor, then whether we can set off the balance of Debtors against Creditors or vice versa?

Please reply as early as possible.

Thanking you,
Prachetas

i using tally erp .....my company have 200 employee.so for the payment of wages i using payroll for wages,pf deduction,overtime,hra,da,gratuity and etc....so my question is it is advisable to work on payroll or create all separate ledger for all the employee...can i create for all the workers the ledger a/c separatly?

1.What will be journal entry if we can purchase the material on credit from X party of Rs 1000 + Excise duty 12.36% + VAT 5%

2.What will be journal entry if we can sale the material to Y party on credit of Rs 2000 + Excise duty 12.36% + VAT 5%

Waiting for feedback

company offered to its customer an offer as follows - buying of coupon worth Rs 1000/-, the customer can redeem the same for Rs 1050/- by buying the companies products

wat is d difference between capital asset and deffered capital asset...???

36 X (A Pvt. Ltd. Company in India) purchased
500 shares @ 1 Euro each of B (A company
incorporated outside India). Since B shares
capital consisted of 500 shares, it became wholly
owned susbsidiary of X.

X also gave loan of 700 Euro to B during
financial year 2013-14 which was recoverted
in indian Rs. As on 31/03/14.

Now, during financial year 2014-15, this
loan is converted into 700 shares of 1 Euro
each.

Please advise
1 What entry is to be passed
2 At what value, transaction to be booked

how much tds will be deduct for contract transport in our company

Dear All

One of my client has planted bamboo tress worth Rs1.50 lakhs to absorb waste water discharged by its factory. Life of bamboo trees is estimated to be 15 years. Should it be treated as Fixed asset or not?

regards,
Vinay

For HRA
How to write it in the computation

HRA Paid by the employer (included in salary) - HRA rebate (shown as deduction)

is this the correct treatment?

Dear Sir/Madam,

In Last financial year i.e for 2013-14, my client has used the old depreciation rates and complied with the rates as prescribe in Companies Act.

But in current year i.e F.Y 14-15, they are not compiled with new rates as per Companies Act,2013.
Depreciation is charged as per old rates only i.e on SLM basis till September 2014.
System used by them is unable to give retrospective effect.

So how to find the correct depreciation?
And what would be the accounting treatment for the same?