SIR HOW TO PASS AND SET OFF JURNAL ENTRY OF FIXED DEPOSITE AMOUNT RECEIVED ON MATUIRTY?

SEPPOSE I HAVE AN FD OF RS 100000 FOR 5 YEARS @8%
I SHOW INTEREST ACCURED EVERY YEAR AS MY INCOME
SUPPOSE ON MATURITY I RECEIVED TOTAL AMOUNT 1250000

KINDLY EXPLAIN ACCOUNTING TREATMENT WITH TDS

I am a salaried person ( No business income)
and preparing my accounts on tally from past few years
i know its not compulsory but even though i do so

so i am paying lic premium
but i want to know that whether it should be shown under investment or under capital

what is correct accounting treatment
i want fundamentally correct answer sir and the logic behind it

We have sent one defect (earlier imported) item to foreign supplier for repair under GR Waiver. Repair cost runs in to Euro 1. 70 Lakhs upwards- definitely giving this a new life.
Whether this is expensed to P & L Account or be capitalised?
AS 10 -ICAI Guideline, ((IAS-16--directly attributable costs--here must be additional probable future economic benefit associated with this subsequent expenditure that will flow to the entity.)
Kindly guide,
Regards,
Jayanta Bandyopadhyay

Dear Sir,
Please suggest us how to prepare provisional,estimated and projected balance sheet with an example. How it calculated.


Thanks

Hi all!

The following is the doubt I have:

DTA as on 31.03.2019: Rs. 16.85

Depreciation for FY 2019-20:
As per Accounting: Rs. 1266.61
As per Income Tax: Rs. 495.71

Going by the depreciation route, the DTA is Rs. 200.44 [(1266.61-495.71)*26%]

WDV as on 31.03.2020:
As per Accounting: Rs. 3625.68
As per Income Tax: Rs. 4461.39

Going by the WDV route, the DTA comes to Rs. 217.29 [(4461.39-3625.68)*26%]

Now, my doubt here is, Which of the below entries is correct?

DTA A/c Dr. 200.44
To P&L A/c 200.44
(Here the net effect is Closing DTA is Rs. 217.29 [200.44+16.85] - same as that arrived at by WDV route)

(or)

DTA A/c Dr 183.59
To P&L A/c 183.59
(Here the net effect is keeping Closing DTA as 200.44 and creating DTA for the difference [200.44-16.85])

I tried to read various articles and also tried to read & understand AS-22 but I could not get this.
Please guide me...

And also, it is really appreciated if you could point me to the exact source/guideline/paragraph, etc. on which your answer is based ( I ask this because I could not find the source and I want to gain knowledge, no other intention)

Thanks in advance...

Professional fee invoice of Rs. 1 lacs plus GST @ 18% was received from ABC ltd on 25th may 2019. the same was paid on 05th June 2019? What will be journal entry for same and its effect in profit and loss account and balance sheet?

Sirs, As a Private Limited Company Registered in 2018),
I have plans to export a product ( I have obtained IEC, GST etc.) and to understand the industry, right now I am sourcing buyer from overseas and getting paid for it by the seller.
How to account for the consideration I am receiving from the Seller in the books of accounts and its GST implication and other Income-tax implication.
I shall be obliged if I am guided in this issue.

PURCHASE OF RS.10,00,000/- AND TRANSPORTATION CHARGES 99000/- IN SEPARATE BILL BY TRANSPORTER WHICH AMOUNT IS CAPITALIZED

I want to prepare Capital A/c of sole proprietor. Kindly tell all possible content of Debit side and Credit Side of Capital A/c of Sole Proprietor. Can i add interest credited on saving or current bank account to credit side of Capital A/c? Also please tell if i Debit following items to Debit side of Capital A/c: Premium on Insurance, Tution Fee, Mutual Fund, PPF etc.? Thanks in advance.

if customer deducts TDS and paid net amount to vendor. then usually vendor at the time of closing of its books of account, book TDS receivable entry and gives credit to customer.

here the query comes: what Prudence Says ? at the time of closing of vendor books. TDS is not reflected in vendor's 26AS. there be a delay by customer in filling of its TDS return.

is it logical to book TDS receivable entry at the time of closing of books?