Dear Experts,

We have charged one of our debtor towards compensation for cancellation of purchase order from him.

We have raised normal sales invoice for this.

My query is, whether this will be sales or other income?

Thanks,
Regards
Sushil.

what is the difference between bills receivables bills payable and accounts payable
bad debts are shown on which side in party account
sundry creditors show which balance?

please help

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.