I am a Chartered accountant, first 6 months i was employed and was earning salary and next 6 months I was into practice and hence earning professional income.
my questions is how should I treat accounting of the tax liability in tally/books.
one ITR will be filed with both salary and professional income and one final tax amount will be computed but should i show this tax amount in my professional accounts or personal account? since i need to adjust TDS also while paying these taxes and in my professional account/tally only TDS on professional income is booked where as TDS on salary income is reflecting in my personal books.
P.S. i keep two books in tally - for my individual firm and my personal finances.

kindly guide.
thanks

Sir,

Is it possible to return goods to company through Sale bill instead of Purchase Return. All the Companies are insisting for sale bill. If sale bill can be issued , then how to bill expired/damaged good in Sale bill. Is this possible? Please help.

Sir,
It Assess accounting books outstanding balance as on 31-03-20.
Cash loan from friend balance rs: 5 lacs.(name Mr.A)
Cash loan to friend balance rs:4 lacs(name Mr.b)
Cash loan from friend Rs: 5 lacs balance cash loan to friend Rs:4 lacs Contra adjustment accounting entries passed in books as on 31-3-21.
Question:
1.Assess above contact accounting transactions allowed in it act.
2.sec 269st or 269ss applicable

Please highlight on interim dividend(recivable) declared by the other company after the closing of accounts on at the end balance sheet date.
kavan ltd has declared divdend on 10th may 2017 for theyear ended 31/3/2017, which is approved by shareholdersin AGM meeting held onn 30th june 2017.
how to report it in the books a investmnet company that has invested in the kavan Ltd.

WE HAVE A LAND IN NAME OF TWO PERSONS A S B AND ONE BULDING IS MADE ON THAT LAND
THERE IS A SOLE PROPERITORSHIP FIRM WHOSE OWNER IS A . A IS SHOWING BULDING IN ITS BALANCE SHEET AT ITS OWNERSHIP RATIO AND EXPENSES ON ERECTION OF BULDING IS PAID BY A FIRM CURRENT ACCOUNT IS IT RIGHT IF NOT THEN PLS ADVISE HOW TO SHOW LAND S BULDING IN EACH OF THEM BALANCE SHEET AND ERECTION ON BULDING COST IS TO PAID BY WHOOM AND EFFECT IN RESPECTIVE BALANCE SHEET

Hi Experts,

Can we create Capital Redemption Reserve from Acc. Losses to buy back equity shares.

Thanks

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Some expenses were paid by the Director from his personal account. Can the Directors loan account be reduced by the salary paid to him. What will be the journal entries in this case?

A registered cloth business composite scheme dealer sales to URD persons(customers) details per day transaction mentioned below.
1. Sales to URD customers Rs:1000/-
2.sales to URD customers Rs:500/-
3. Sales to URD customers Rs:800/-
4.sales to URD customers Rs:900/-
Above me sales details per one day all sales transaction through on phone pay or Google pay received from customers.
Question:
Dealer accounting entries passed in books
total single entry or 4 accounting entries passed is correct method

We 3 partners are running some service related jobs based on commission. (eg: Courier, share brocking franchisee, insurance portal). But all the above license are in my name only. So all the commissions are credited in my personal bank account only and the TDS so deducted are in my PAN. Firm was neither registered as partnership firm / Proprietor ship/ Pvt limited. We want the partnership firm to be registered and open a Current account. my query is
1. How to include the above said services in Partnership firm, if it is registered.
2. How will treat the Tax liability.
3. I want a salaried income from the partnership firm as I am looking for a home loan with in 6 months.

Profits are equally shared among the partners irrespective of the capital contributed.

Dear Experts, Capital subsidy has been received (2017-2018) by a firm. To purchase the (Embroidery Machinery)asset the firm has taken term loan from a bank. Now the bank has received the capital subsidy Which bank is showing in the Subsidiary Loan Saving Account, there is no change in the O / S terms also, how to do it in the entry book?
Is this entry correct for me?

Term loan A/c Dr. 700000
To Subsuidy A/c. 700000