My friend holds two residential properties. Out of this he wants to sell one residential property. He has already purchased a new property 5 months back. Will he be eligible for exemption under sec 54F ?

Dear, sir

What will be the accounting treatment of purchase of Tally software of Rs.11,500?



Regards

Ajai Kushwaha

Dear Expert,

I had a query.

A company X invests Rs.100 in company Y. X takes over Assets (Rs.100)& Liabilities (Rs.50) from Y. Net Assets taken over is Rs.50. So will the balance Rs.50 (paid Rs.100 & Net Assets Rs.50) be treated in his new company as Goodwill as per the entry below?

Assets Debit Rs.100
Liabilities Credit Rs.50
Goodwill Debit Rs.50
Share Premium Credit Rs.100

Kindly advise if other than Goodwill any other entry is an option. Because if we bring in Goodwill same will be subject to Amortization.

Thank you in advance.

Aroop Datta

Hi,
If we purchase the furniture costing below 5,000 in the 1st year of operation, then can we capitalized the same or we have to write back as 100%.

Is there any opinion of Institute on the said issue?

My question is related to IF Function in Excel for HRA Amount Formula

Write formula for HRA Amount in B2 Cell under two condition if Basic salary is in A2

Condition no. 1 :- If salary is upto 15000,HRA will be 40% of Basic Salary with a minimum amount of HRA is Rs. 3000


Condition no. 2 :- If salary is more than Rs.15000,HRA will be 30% of Basic Salary with a maximum amount of HRA Rs. 10000

Both condition's formula written separately

DEAR SIR,

I COME TO KNOW THAT LAST FEW YEAR MORE THAN 2 LACS AMOUNT CREDITED AGAINST A CREDITOR (LTD. CO)IN OUR BALANCE SHEET WRONGLY.

SO HOW COULD I WRITE IF OFF SAFELY IN THIS YEAR FOR FARE ACCOUNTING

I AM CONFUSED. PLS ANY BODY HELP ME

THANK YOU

What is entry in books of account for DTAA?
Rs.100 is Prof Fee
Rs.20 is Tax paid in UK
Rs.80 Net Amoount.
Is there any Tax Treatment/Exemption in our Books or IT return?

i m student in fY bcom so plz tell mi about my quary give ans. as early as possible.

1)if purchase machine but it not related to business. that time what is a entry book in tallyERP9

2)if purchase cartridge but it not related to business. that time what is a entry book in tallyERP9
plz give sugession.

Dear friends,

I have a doubt regarding bad debts provision. what happened was in order to bring down profit, i picked some old debtors and transferred them to bad debts account.But instead of crediting the debtors ledger i created another head under debtors as provision for doubtful and bad debts and passed the entry as follows :

Bad Debts a/c Dr
To Provision for Bad & Doubtful debts.

My question is in case after mayb 1 or 2 years if any of the above debtors settle or give us credit note, what will be the treatment in that particular year..such that the amount can be credited from the debtor account and provision for bad and doubtful debts account too..

Pls reply asap and thanks a lot for the reply in advance...

Dear sir

in one my clients accounts, pre operative expense of Rs 12000 was capitalised along with fixed assets and depreciation was charged on the total amount in the next years.
is'nt it wrong?
how should we treat it?