I am working in Pvt Ltd Company enganged in the business of civil contract works. Recently we received scrunity notice under CASS u/s 143(2). for a/y 2011-12 & 2012-13. On verification of books AO rejected books u/s 145(3) and income arrived on estimation basis and as result addition arrived for both years. Now my question is since we are aggreed to pay tax on the addition so made can I pass the following entry .The addition in respect of earlier can be brought as a Cash Balance during the current year? If so under what section in IT Act,1961. Pl refer Accounting Standard also.

Cash A/c Dr XXX
Reserves & Surplus Cr XXX
(Entry towards addition )

Reserves & Surplus Dr XX
To Cash/Bank cr XX
(Entry towards payment of tax)
Kindly advise

Hello CA experts, I want to ask one question regarding articleship.I am currently doing Job and I also want to join articleship. I cant leave Job since its question of survival. so does any firm provide night articleship? ps:- my job isnt related to CA firm to write a letter to CS institute to consider it as articleship. pls pls pls help me out. Thanks alot. Jamir

I want information about accounting standard interpretation on AS13. expert opinion on AS13 guidance notes on AS13 case laws on AS13 notofications on AS13

A person's basic salary is Rs.10000 p.m.His Provident fund is deducted only on Rs.6500 and not on 10000.Is the treatment correct?

Dear Sir,

Last year our proprietor had been withdrawn Rs. 10,00,000.00 from firm and it shown as ADVANCE to Proprietor in books of accounts. This year he want to withdrawn of Rs. 20,00,000.00 from Firm. Actually i want to know what should the accounting effect of this transaction.

IF Mr.A get RS.500000/- as advance against sale of his Building from Mr.B but Mr.B not fulfill the terms of agreement And Mr.A forfieted the amount of Rs.500000/.If WDV of Building is Rs.4000000/-

Then what will be the treatment of building in the books of Mr.A? Whether the building is showen in books on Rs.3500000/ Or Rs.4000000/ ?

Hello sir/madam,
I Janhavi R. Vasaikar working as a Accounts Executive. I would like to ask you how to prepare the Balance sheet, How to finalise the accounts, While doing finalisation of accounts what points to be kept in mind, Is their any tricks to prepare the Balance sheet and Finalisation of Accounts.

When i go for an interview, everybody ask me do you know finalisation of account and you prepare the balance sheet. Every time i says no. Pls send me some examples of balance sheet and how to do it. Pls awaiting for your reply

plzz sir, what is debenture??? explain it.

Can a real estate developer recognise his revenue from flat receipts at the time of handing over the possession of flats and not on percentage completion basis?

According to entity concept transaction related to business record in the books of business and transaction related to owner record in his personal books of record . Then my question is where the transaction recorded related to both business and owner.And why.?