Our company paid car hire charges to the party in each and every month but the hire charges are not same in every month so in that case whether TDS should be deducted U/S 194 C OR 194I.

PLEASE TELL ME IF A COMPANY GIVES IMPREST TO ANY DIRECTOR OR CEO FOR VARIOUS EXPENSES FOR EXAMPLE GIFTS PURCHASED FOR BUSINESS PROMOTION,OR ANY OTHER SIMILAR EXPENSES INCURRED THEN:
SHOULD THE BILL BE IN THE NAME OF DIRECTOR OR COMPANY.
I THINK IN THE NAME OF COMPANY.
IF THEY ARE IN THE NAME OF DIRECTORS DUE TO IMPREST THEN WHAT CAN BE DONE TO ALLOW THEM.

Hi,

Can somebody explain the deferral of overhead in the case of Under/Over absorption with illustrations?

Also with some accounting journals.


Thanks & Kind Regards,

Ramachandran K

I have a one case that ( In case of Company)- i have to reduce my liabilites of the current year ,how can i reduce my liability in respect of creditors as well as i dont have any cash balances in my books of accounts -How can I reduce my creditor as well as my liabilities without cash balances . My debtors include limited company ,
please give the proper answer for my question

SIR I HAVE A QUESTION IN FINAL ACCOUNTS.
IF AN ENTERPRISE IS INVOLVED IN PROVIDING NET SERVICES LIKE CYBER CAFE,IT ALSO PROVIDING COMPUTER EDUCATION AND IT ALSO SELLING COMPUTER PARTS.
SO ALL THE REVENUE MUST BE CREDIT IN TRADING A/C AS IT IS ITS TRADING ACTIVITY. AND ALL THE EXPENSES RELATED IN PROVIDING EDUCATION ARE DIRECT EXPENSES SO IT WILL BE DR. IN TRADING A/C RATHER IN PROFIT AND LOSS A/C.

Oue entity is in the Project Stage.On account of non-compliance of the terms and conditions of a contract,the Bank Guarantee given by the contractor was invoked by us.Can we reduce this amount from the project cost? The matter is subjudice.

SIR,PLEASE SUGGEST ME THE STANDARD FORMULA FOR RETURN ON ASSETS,NET PROFIT,RETURN ON INVESMENT,RETURN ON EQUITY..
IN SOME SUM NET PROFIT AFTER TAX IS CONSIDERED(EAT) WHILE IN SOME SUM NET PROFIT BEFORE INTREST AND TAX (EBIT)IS CONSIDERED...
I M REALLY CONFUSED SO PLEASE SUGGEST THE FORMULA.

Sir
Please Tell me the accounting treatment of following:-

There is Service Tax Recoverable A/C(Dr Bal) amt to Rs.9800 which is standing from A/Y 2007-08 till date.I think now its claim cannot be taken,then what entry should we do to write-off such amt?

Whether it will be disallowed for income tax purpose?

Q1.There is only a single A/C opened for TDS Receivable For A/Y 07-08,08-09,09-10,10-11 whereas seperate A/cs opened for Prvosion for taxation viz.Provision for taxation(AY 07-08) ,Provision for taxation(AY 08-09)and so on

Is it right to operate a single A/C for TDS Recoverable for all years,whether it will create any problem?

Q2.After how many years TDS Recoverable A/C ,Provision for Taxation and advance tax A/c standing from a long priod should be adjusted?It means that for how many yrs should we wait for Income Tax Assessment?

The staff is going out for foreign travel and they withdraw foreign currency from ATMs and make cash payments. The period of travel is around 15-20 days. So what rate of exchange should be taken to reimburse them. Can I take the average rate of the number of days they were out on foreign travel? or there is any other way out?