I am taken OD of 50 Lakhs INR and given loan to my relative of 50 lakhs INR. Another loan given to same relative of 40 Lakhs. i have maintain two separate ledger in my books and till march i have charged same interest rate in both account. During last year i have repay OD amount of 50 Lakhs and took new OD of 25 Lakhs but my relative not paid principle amount. he only pays interest amount. Now i want to change interest rate i.e for Loan given against of 50 Lakhs reduced to 25 Lakhs and and Balance 25 Lakhs transferred to Another Loan Account i.e 40 Lakhs + 25 Lakhs = 65 Lakhs And different interest rate for 25 Lakhs and 65 Lakhs from same person.
Is it possible to do ?

i have purchased Tally Software for INR 13k. Whether it will be an Asset (can claim depreciation as its an intangible asset) or its a spend to be charged to P&L?

What adjustment is required for inter company owing between Investor and Associate?

Dear Sir

WE have washing Gadi ( White Sheet, Pillow cover, Towel ) from Washermen. Please provide the name of the expenses head which we book the expenses.

Purchase land 1992 value Rs. 52000/- sale the property march, 2020. Value of rs. 36,00,000/-
1)This is a taxable income for capital gains?
2) if capital gains then which % are calculated?
3) any deduction for this income?

Hi Experts,
Pl. advise:
Accounting entries for an asset destroyed during the year:
Op. Gross Value as on 01Apr2019 – Rs. 1,00,000/-
Op. Accumulated Depreciation as on 01Apr2019 – Rs. 60,000/-
Asset destroyed due to accident on 31Jul2019
Scrap value realized Rs. 2000
Thanking you in anticipation
Ramesh

i have received a bill dt 20.04.20 & service period is 15/3/20 to 14/04/20, so please tell me how to book exp in books & in which year it would be book

Hi,

My company has 2 ex employees who is supporting the company for business after retirement. I need to pay them around 30000 per month for which they will not provide any bill. Kindly suggest me that in which expenses head i have to account the same.

Hi sir/madame,Im confused with this question,i.e. I had invoiced to the party ie "debtor",amounting rs.62515.But he has paid Rs.62512 only against invoice.Now difference amount rs.3,what should i treat in the books of my accounts.Please any one guide me for solving this problem...

Dear Sir

As per bank statement bank has deduct some amount under SGST and same reflect in 2A.
but bank staff not able to provide the invocie so can i avail input tax credit on bank exp.

WE have prove bank statement.