During the assessment, income tax officer increased the value of closing stock and levy the tax on it for the assessment year 2008-09 in previous year 2010-2011.
Whether this increased value of closing stock can be included in opening stock of the assessment year 2011-2012 for the proprietary concern.
Please quate the relevent case law, with details.

Hi

After completing bank reconciliation,is there any entry for unaccounted items

FOR NBFC COMPANY AS PER RBI NOTIFICATION

PROVISION FOR

1 - "CONTINGENT PROVISION AGAINST STANDARD ASSETS"

PLZ TELL ME WHAT WILL BE JOURNAL ENTRY

2-IS IT LIKE PROVISION FOR AUDIT FEE ETC

3-IS IT AN ITEM OF EXPENSES

If cash receipt issue at remote location and cash book maint at main location, can be account cash receipt in cash book after issue of receipt date or in same day.

One of my client in his Proprietorship Business in FY 2010-11.
Buniness Turnover Rs. 4 Core. and Net Profit Rs. 20 Lacs.
Op.Bal for motor car as on 1.4.2010 for Rs.444489/-
The motor car sale for Rs. 180000/- on date 7.2.2011
Depreciation & Loss of car sale how can compute it?

Kindly suggest the same.

Thanks & Regards.

(Nathuram Kadam)

When i'm entering the details of other payment made interest details in others payment sheet, it asks source document no. If i ignore this, the page is not validated and it says that `source document no. format is not valid'. Could any one help me to provide the format of source document no. i.e. the format, how it should be

Hi

Pls suggest books for dept study of advance accounting,TDS,Income tax @service tax.

When the proprietor introduces any amount for starting the business, we debit Cash A/C or Bank A/C as the case may be. What if the proprietor brings in furniture, machinery etc. from his own stock? What is the entry to be passed then? And how is the depreciation charged to such furniture / machinery is to be treated against capital introduced?

PF CHALLAN

PF CONTRI (STAFF) 2,778.00
EPS (8.33 % OF SALARY) 1928.00
EPF(3.67% OF SALRY) 850.00
EPF ADMIN CHARGES(1.1% OF SALARY)255.00
EDLI CHARGES(.05% OF SALARY) 12.00
EDLI ADMIN CHARGES( 0.01% OF SALARY) 2.00

TOTAL PAYABLE 5,825.00

WHAT IS THE PAYMENT ENTRY.

when export incentives should be recognised as per AS.