Kowsalya
This Query has 1 replies

This Query has 1 replies

19 October 2021 at 13:27

Cash flow statement for LLP

Is cash flow statement mandatory for LLP?


Thanks in Advance


Deepak Khadake
This Query has 3 replies

This Query has 3 replies

16 October 2021 at 11:32

Documents authorization

What type of documents can be authorized by a Tax Consultant? Can he certify unaudited balance sheet, balance sheet for small banking loans (say upto 2 lakh), small project reports (say upto 5 lakh)?


Chaitanyaa
This Query has 3 replies

This Query has 3 replies

16 October 2021 at 11:22

Creditor for expense.

What is the difference between creditor for purchase and creditor for expenses in balance sheet.?
Thank you


R S Sai Kumar
This Query has 3 replies

This Query has 3 replies

15 October 2021 at 19:42

GST Entries

Would some one suggest me the method of passing journal entries - in relation to RCM, RCM is eligble for availment of input. Kindly give illustrations also. A known person suggested the entries, but I am not satisfied with the same. Hence posted in this forum


PARESH TIKADIYA
This Query has 3 replies

This Query has 3 replies

Sir,
A Temple which is governed by trust. A trust has already a bank account which is operated manually at Bank. Can I convert this trust bank account into net banking or else mobile banking?
Is there any other procedure for operating trust bank account online. Like neft ,rtgs through mail.


Sheela Nair
This Query has 3 replies

This Query has 3 replies

13 October 2021 at 09:59

CSR Expenditure spending

Company has crossed Rs. 5 cr profit in FY 2018-19, whether the Company is required to spend on CSR Activities for 3 financial years i.e. for FY 2019-20, 2020-21 & 2021-22 ( including this FY). on 2019-20, 2020-21, the profit is below 5 crores .
As per the General Circular No. 14 /2021 dt. 25th Aug 2021 of MCA they had issued a FAQ .
A company satisfying any of the following criteria during the immediately preceding financial year is required to comply with CSR provisions specified under section 135(1) of the Companies Act, 2013 read with the Companies (CSR Policy) Rules, 2014 made thereunder:
(i) net worth of rupees five hundred crore or more, or
(ii) turnover of rupees one thousand crore or more, or
(iii) net profit of rupees five crore or more

As our above three criteria s are not matching , as per the circular of 25th Aug 2021, our auditors says there is no need to provide the CSR expenditure for FY 2020-21.

But as per our company secretaries is the FAQs on CSR as notified on 25th August, 2021 as just the FAQs based on the Act and Rules, these do not override the main section or the Rules.

Further the Rule 3(2) of the CSR Rules is still effective and has not undergone change or is void due to new changes incorporated through CSR Amendment Rules.

so as per CS Company has crossed Rs. 5 cr Turnover in FY 2018-19, hence as per the Rule 3(2) of the CSR Rules, the Company is required to spend on CSR Activities for 3 financial years i.e. for FY 2019-20, 2020-21 & 2021-22 .
I am very confused with the different opinions of CA & CS please guide me on this matter

Regards
sheela nair


Deodatt S.Kulkarni
This Query has 1 replies

This Query has 1 replies

12 October 2021 at 13:13

Gift paid

Dear Sir,
I have Query regarding Gift paid by Mother -in- low (Age 80) paid to her daughter-in-law of a Jewellery of Rs.100000/- . Both are running a Proprietor Business. How to Give Treatment in both books of account ...Is this Un Secured Loan or What...


Rishabh Singh
This Query has 1 replies

This Query has 1 replies

11 October 2021 at 14:09

Zomato Accounting

If we are running a restaurant bussiness and we are also delivering food via zomato & swiggy then zomato and swiggy cut their commission with axes and send us money on weekly basis after deducting tds and tcs. For their commission they gave us a service fee invoice.
So the question is
Why they cut tds and tcs ?
Bcz we are not giving them in any service and invoice


Kollipara Sundaraiah
This Query has 1 replies

This Query has 1 replies

Sir,
A partnership firm income tax pay some amount through to one of a partner personal bank account online mode pay.
Question:
Above it pay amount transaction how to passed accounting entry partnership firm Books and partner personal account books.


Gourav dewangan
This Query has 1 replies

This Query has 1 replies

Suppose I am a property dealer. I purchased a property amounting to Rs 1000000 and stamp duty of Rs 200000 and registration fees of Rs 100000 are also paid by me. What is the accounting treatment in this. Weather Purchase account debited to Rs 1300000 or purchase account debited to Rs 1000000 and direct expenses debited to Rs 300000.






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