hi Expert,
I am working in an MNC company we provide services for buying & selling of machinery means if a company is looking for a machinery and if we find it for them then we charge them consultancy fees now my consultant says you should raise an bill for the same & my CA says you should raise an Invoice. We charge service tax on our Invoices. We normally take our payment in advance. What is the basic difference between a bill and an Invoice.
Please guide ....
Awaiting your valuable reply
best regards
Sim

Dear All,

If the salary of an employee got increased and after increment his basic wages exceeds Rs. 6500/- whether it will stiil be mandtaory to deduct his P.F. (if before increment he is a member of P.F. deducted employees.)

hi,

One of my cousin is in CA Final having exam in this MAY 2010, due to his artlcleship work load, he was unable to read all Standards.

So, Can some one please send me Summary of all 32 Accounting Standards, which can be readable in 1-2 days. I tried to search in Google but didnt found summarized one. So, if someone can send highlights of all AS. Pls if any1 can help him out...Its a request.

1. Why we need of delivery Challan/GR copy. Where written in Law?
2. Why party responsible for charge the lessor Vat charge, Why not we?
3. Where we deduct the tds, Where WCT, and where BOCW.
4. Why we not deduct on Only on Contract deduct TDS, NOT WCT. According to Law what is contract and work contract. A contractor supply the labour for construction.
5. A water supplier is supply the water. Can we deduct the tds for this in which section?

i want to know the entries regarding purchase and sale of shares in tally.

i have the following query.

Broker account should be open i which head.

spleculation purchase/sale under which head

purchase entries regarding purchase of shares

dear sir/ma'am
wanted to ask a query from surrender of shares(internal reconstruction)

situation1
creditors(=72000) claim shall be reduced to 50%, it is to settled by the issue of equity shares of rs10 each out of the shares surrendered(=500000)

situation2
Creditors(=300000) agree to reduce their claim by one-fifth in consideration of getting shares of rs35000 out of the shares surrendered(=270000)
Kindly give entries in both situation..

In the book the 1st entry is creditors a/c dr to cap reconstruction 72000
Whereas 2nd entry is creditors a/c dr to cap reconstruction60000

Here confusion is, in first entry we have credited capital reconstruction a/c with rs72000 i.e total amt but in 2nd situation its only the reduced amount?why so?

we are developers. on our one site, making temporary tent for labour on this tent make with bamboo+steel sheet. so my query is this expenses comes under which head in P&L a/c

can any one help me in providing the entries regarding purchase of share /sales of share.

how to record entries relating to intraday transaction.

how to maintain stock..

under what head the following ledgers should be created.

Brokerage account
Service tax
STT
exchange levies
speculation transaction

IN A PARNERSHIP FIRM HOW IS THE INTEREST ON DRAWING "RATE" CALCULATED .AND PLEASE SAY ME SIR /MADAM HOW TO SEE THIS ANSWER , I M GIVING MY ID-"mundhraankur@gmail.com"

Hiiiiiiii

what will be the accounting of exchange difference arising on loan taken in foreign currency for purchase of an assets.
Diff. arising due to revaluation of foreign borrowing will be capitalised with assets or expensed in profit or loss account.