Sir,

An employee is posted as Accountant with gross salary of INR 35,000.00 p.m.
In addition to the above salary, he is getting fees of INR 15,000.00 p.a. for filing TDS returns for the same employer.

What would be the treatment of the fees? Salary or Fees for Professional Services? Any provision in this regard under the Income-tax Act?

Dear Sir,
A company has six branch in different states, therefore having separate GSTIN also. But the company has only one current Account. All branches payment, expenses, credit are being done with same bank account.

In this scenario since we have different GSTIN in all states, how to maintain Account of separate branches with one bank Account wherein most of the debit & credit entries are related to other branches.

Pls guide how to tackle this scenario....

Thanks

Journal entry of salary with p tax, pf, esi, canteen recovery deduction. A canteen Bill raised by a vendor of RS 50000/- out of which only 40000/- recovered from employees and RS 10000/- not recovered from the employee as they left the job.

NET WORTH OF ASSOICATES COMPANY ( H ) - 3013479
SHAREHOLDING OF( B) IN ( H)- 25.9 %
PROFIT AFTER TAX IN (H) = ( 11559)

PL REPLY
THANKS

I am requesting you all to give detailed notes on Inventory Valuation,Opening & Closing entry in Tally and Normal entry for Opening & Closing Stock entry

Dear Sir,
Let me know in which head expense out purchase of BRICKS AT TIME OF RENOVATE THE FACTORY BUILDING.

Please advice for the accounting in which head also let me know it will be expense out or Capitalize

Hello Sir While preparing consolidated financial statement, there is previous financial year income tax expenses.

Now my Query is
1. should I deduct previous year tax expenses from consolidated profit to arrive at EPS. or should I adjust directly from reserve and surplus
2. Is Tax expenses do not comprises previous year tax expenses same as stand alone financial statement Schedule 3 Division 1?

Please share your view

Hi, Let's say there is intercompany A which sells raw material to company B.Company B make payment to A on receipt of Invoice. Can company B bring company A under the reverse factoring program wherein bank will fund the invoice at certain interest cost and on due date company B makes payment to bank. it's standard practice for regular vendor but want to understand the possibility or regulation around this for Intercompany.

A Client Recd a Software Credits at No Price ( From a Overseas Co. ) from against his idea of Software which he utilised for development of Software which got now materialised and the Revenue is getting generated . The Value of Credits were around 2 Cr . Now whether the Intangible Assets of 2 cr can be Created as Intangible Assets in the books and How .
As12 - Governments Grants , i hope will not be applicable being its Overseas Private Co. who provided Grants (Credits) .

What is "cost" under IND AS 27 when Strategic Investments acquired in tranches are valued under it and diluted partially? Can we use simple average method for this purpose as the Standard is silent on FIFO/LIFO/WAM?