actual entry
debtors 100000 dr
sales 90000 cr
vat 10000 cr

entry done
debtors 100000 dr
sales 85000 cr
vat 15000 cr

how shall i rectify the error in fy 13-14

since it is a proprietorship firm
should i debit vat & credit capital a/c

A client has raised a reimbursement bill of Rs 10000. It has further claimed Rs 1000 as processing charges on the same bill. Service Tax @ 12.36% is charged on the processing charges = Rs 124. Now, my query is :

1) Is TDS deductable on processing charges inclusive of Service Tax ?

2) If yes, then under which section the same should be deducted ?

3) The client has registered with the ST Dept. in the name of sister concern. Can i avail the credit under the sister concern of the client ?

Dear sir; I am Mohit Kumar Bansal from mathura (UP)I have cleared CA-CPT & IPCC g-1& did orientation programme &information technology tranning required in CA I want to do CS also ;Is there is any exemption in 7days & 70 hours tranning for appearing in executive exam what is the procedure for entering in CS ? What is the Last date for registration to appearing in executive june2015 exam; from where I can get form related to this please reply -mohitbansal754@gmail.com pH no 8864967579

1.What type of incomes Huf can earn except rent on inherited property and commission Income? 2.Can huf do business i.e trading of goods? 3.Can huf be registered as a dealer under mvat ? 4.The turnover limit for registration under mvat says " turnover of taxable goods is Rs.1000 or more - What does it mean ? "

There is payment of interest on loan which has been capitalized to Fixed Asset A/c as per AS 16.
Whether this interest payment is to be shown as cash outflow under Investing Activity or Financing Activity?

If interest is debited to Inventory then where will we show interest payment?
In Financing activity or Operating activity?

plz. help me

why we can deduct tds on purchase.
in delhi or other state.

i waiting your reply.

Regards
Raj kumar

33 A Pvt. Ltd. Co. made sale of its products to Foreign Co.
Such foreign Co. found short quantity of material.

Accordingly, it issued us debit note towards material
short received by it.

It also debited our account towards duty and handling charges
borne by it on same.

As far as, value of material s concerned, same
shall be credited by us in sales return account.

Query is

1 In which account we should credit the party
for such duty and handling charges.

2 Foreign Company given us debit note on dated 01/11/14
in respect of sale made dt. 01/07/14. Which exchange rate
should be used to calculate credit note amount i.e.
whether date of sale or date of debit note issued by it
or date when we issue credit note.

Can anyone tell me, when we receive LC amount from a cutomer, should we credit the customer account or keep under LC account and transfer to the customer account when the LC is due.

if it is to be credit to the LC ledger and transferred only when due, what is the reason for the same.

Kjnd Attn : Dear Sir/Mam

Pls adv, as to how do we write-off old Sundry Creditors Balances pertaining to previous years.

Thnx and regards
Gurvinder Singh

i using tally for book keeping....my query is
if i given 10000 rs to mr.salman for mumbai site....i made the entry for this is
dr.advance against expenses and cost centrebin mumbai project-10000
cr.cash ac-10000.
is this right?