we are company have taken loan from co-operative society against this loan here have one gurantor, when the gurantor take loan from the same co-op society some due amount payble by this company deducted from guranto r loan amount now we want to know ho we can pay this amount to gurantor and how it will be account because the co-operative sciety deducted this amount as cash from the gurantor

Dear Experts,

What would be the treatment of one time non refundable Joining fees for availing the Club Facilities. My view is since it is 1 time fees it could be included in Capital Reserve.

But our Auditor is of the view it should be treated as Income for the year of receipt.

please share your thoughts on the issue

what is Non current assets.

Kind Attn :Dear Sir/Mam

Pls adv:

Our Vendor has deducted TDS on us. Details as follows:

Amt to be paid to vendor.......
less Commission given to us by vendor........
TDS Deducted by vendor.........
Total Payable by us to vendor..........

Kindly explain the Dr and Cr entries.

Thanks

Gurvinder Singh

1) If a creditor has credit balance as well as short term loans and advances are appearing in its name, can they be adjusted and a net position for the creditor be shown?

2) A debit balance for a creditor will be classified as short term loans and advances or other current liabilities?

Thankyou.

hello every one, The drawings which were in the bank statement of a contractor can be treated as 50% personal drawings and other 50% for business purpose? was that treatment right ?pls helpe out

If the value of car is Rs 62800 Sold to it to a cousin itself and just for a round figure recieved a chq of Rs 63000 . what entry should be passed for That extra rs 200. Motor car a/c debit Rs 200 to profit on sale of motorcar a/c..Rs 200. If yes under which head of accounts will profit on sale of motor car vl come... indirect income?

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I mean how to enter in the Tally 9. Salary Heads I.Base Salary: 1.Basic 2.HRA 3.Conveyance 4.Children Allowance 5. Special Allowance II. Reimbursement 1. Medical 2. Vehicle 3. Food So ho to enter the entries in Tally so that less tax effect comes out.