Dear Friends / Experts,


I have a query in finalising the accounts for Individual (I am just assisting my friend for filing his income tax return as he is a small tax payer).


Balance Sheet is not tallying (i.e. Liabilities is not tallying with Assets
and has a difference of say Rs.21500/-).

Query

The assessee is not in a position to recollect the details for such difference.

How can the accounts be finalised in such a situation or is there any way to resolve this ?

Ans.......

Kindly advise on the above query.

Thanks.

Pls. guide me while preparing Financial Statement under which head the below expenses to be taken as per New Schedule VI

Interest paid on late payment of advance tax, service tax, excise duty, wealth tax in Company
Penalty paid to PF, Income tax,

Filing fees- MCA, ROC,
Expenses paid for Legal expenses to Advocates for notary or registration puprose.

I had a cargo van which i have sold recently..now i needed to make entry in tally but i dont know that how to make entry of it..
In F.Y.2011-12 rate of cargo van was 145000/- but i sold it in Rs.130000/- this year..
please tell me that how should i show the loss amount Rs.15000/- which i have incurred on selling????

thanking you in advance..

A Company is in manufacturing business of Confectionery items (Like Biscuit, chocolate etc.,)

A company is having lot of Dies & Tools which has been booked as Plant & Machinery

Can it be treated as Inventory ?

(Company is not trading with Dies & Tools and Company has to purchase Dies & Tools in every month due to change in products)

We are selling one building in the name of our company.What are the taxes applicable against such sale.

SIR/MADAM

I WANT TO KNOW THAT CAN WE FILE THE TDS NIL SALARY RETURN IN RPU OR ANY OTHER SOFTWARE IS THERE, BECAUSE I AM FACING PROBLEM IN THAT SOFTWARE IT IS SHOWING ERROR IN THAT SO WHAT I SUPPOSE DO PLEASE LET ME KNOW AS SOON AS POSSIBLE.

In case of Company's Accounts as per Companies Act,1956 How do you define the term "Non cash Items" for the purposes of computing Cash profits/(Losses) after adding/deducting from Book profit/(Loss) as per Profit & Loss Account. I mean what the said term includes. for example Depreciation.
Please provide the illustrative list so far the term "Non cash items" includes is concerned.

31/03/2012:
Op.stock of Finished Goods: 25,76,287/-
Excise Duty thereon:2,65,358/-

Clo. of Finished Goods: 1,25,56,335/-
Excise Duty thereon:15,51,963/-

Hence Provision for unpaid excise duty is made for Rs. 12,86,605/- ( 15,51,963 - 2,65,358).

Plz advise what will be its impact on DTL/DTA.

Hi,

If in any Company AS-3 Cash flow and AS-20 Earning per share
were not applicable as per old schedule VI because it doesnot satisfy the condition required for preparing Cashflow and EPS, is the company under obligation to adhere with AS-3 and AS-20 as per revised schedule VI even if the conditions mentioned in the relevant AS is not satisfied.
If the relevant AS is not applicable does it require any disclosure in notes to accounts.

Thanks in advance

can any one explain the concept of back charges a/c with example?