my company has taken Anti virus software for 3 years , now my question is that as per income tax act it is treated as revenue exp.
so whether journal entry to be books of accounts passed
computer repair and maintenece A/C --Dr
to party A/c

or
computer repair and mainteneance A/C--dr
prepaid com, repair and main. A/C--Dr
To party A/c
please reply this question as per income tax act and as per Accounts also.

if any expenditure is disallowed in firm's income, what it would result on individual partner income

stale cheque reflating in trail balance from long time what does it mean

When an asset like computer is purchased for rs 40000, and depreciation is taken for 3 years .


now after 2 years the mother board got damaged and so purchased a new one at a cost of 15000/- .

now my question is ?
1 how to calculate depreciation
2 shuld we treat mother board as an spare part or an asset ?

if travelling expenses done by proprietor or owner of the organization then is it duducted from net profit??
or it is considered with drawing a/c!

Good afternoon all, sir, i am working in construction company. I got a work contract bill, where they charged 85% Vat and 15% Service tax. Can i take both input credit? How can i deduct tds?

Hi
As per Punjab state's new fiscal incentive scheme, there will be a rebate on capital investment abobe 100 crs by way of:
1. CST exemption for 12years
2. Vat exemption for 12 years
3. Electricity Duty exemption for 12 years.
Question : 1. Will these exemptions be treated as capital subsidy as they are based on capital investment but dependent on revenue operations like sales, electricity consumption?
2. What will be the accounting treatment- These benefits should be reduced from asset value as per AS on fixed assets or treated as other income ?

what is the difference between conveyance and travelling and transportation expenses??

Deffered tax assets show under which head in balance sheet
Deffered tax liabilities show under which head in balance sheet.

Sir/Mam, I have a query that if a person submitted membership fees in a club for rs 100000 n get it's benefit for next 25 yrs then what will be the accounting treatment and tax treatment for recognition of revenue for club. plz reply as soon as possible