Our Client, a mandap keeper, receives some percentage say 25% of the bill chaged by the stage decorator to the party booked the hall. The stage decorator separately charges some amount the party and pays 25% of the bill chaged to the mandap keeper for utilising the facility. Whether the same can be treated as commission income? and whether there will be any implications on the above issue to the mandap keeper, who only charges rent to the party.( like above also getting some amounts from the lighting ,shamiana contractors etc )

Deductee of Tax at Source maintains accounts as per the Cash System of Accounting and fee received for services rendered during FY 2007-08 is received in FY 2008-09. Tax Deducted at Source is also booked in FY 2008-09 while TDS Cerificate has been issued by the deductor for the year 2007-08(AY 08-09).

In which year the deductee may claim the adjustment of TDS?

In a cash system of accounting expenses like purchases are written off at the time of incurrance. Now, certain stock of raw material is available as on the last day of the year. Whether such closing stock is to be booked and yearly profitability is to be derived thereafter or not?
In other words: whether closing stock is recognised in cash system of accounting or not?

If, when rights to purchase the shares are issued to existing share holders,
what should be the treatment if,
rights are sold to any other person---whether to be treated as income directly and credited to profit&loss a/c (or) to be credited to the cost of investments already existing..........????

Dear sir

Please give knowladge for opending stock is assets / exp

if expences please give reason


for imporve me knowladge

please give reply

its very urgent


Deepak Gagrani

Is capital redemption reserve, Share premium account are nominal accounts? If not then what is their nature ?

Can any one please give me explanatory notes on treatment of abnormal losses in Branch accounts?

Sir, in amalgamation of the firms in partnership, can you please tell me what is the significance of transferring the partners capital account (who have excess capital than required ie.the capital of the amalgamated firm is give in Que like:the new firm's total capital will be 90000(for example)) to his current account? Can you please help me Sir?

Hi sir
i'm writting my PCC in may 2009 and would like to seek ur suggestion in my preparation of accounts. Like which chapters have to be more stressed and which are helpful for scoring good marks. and in which way should we prepare for accounts subject

A company is making payment to the US Company for the services. In order to avoid TDS, a third person is making payment through nits credit card and later on the company is paying to the third person. What is the solution and the journal entry.