Please let me know, Do we get ITC on marine insurance.?

SIR
Direct expenses should be accounted under the group of Revenue Accounts? If it is yes, why it should be accounted like that?
pls give me explanation.

thanks in advance

SIR
A Pvt Ltd Co. namely X providing its own trucks to the business of transport services and issues sale invoices to the party for services rendered.

On the other part, X takes trucks from Y , who also provider of transport service, for hiring and use them to its own business?

Similarly, Y takes trucks from X for hiring?

Finally X has issued sale invoices to Y and Y also has issued its sale invoices to X for hiring of trucks.

Here, Directors for both X and Y are the same.

Is this process correct?
Sale invoice to be acceptable ?
Applicability of TDS if any?
Any contractual agreement needed?

Thanks in advance

I have a query about detailed procedure of reconstitution of the partnership firm after the death of a partner

RESPECTED SIR WHETHER PF PT & ESI ARE APPLICABLE ON MONTHLY SALARY BASIS OR NO OF DAYS WORKED IN ORGANISATION? WHETHER THIS THREE COMPONENTS ARE APPLICABLE ON THE BASIS OF SALARY FOR MONTH OR NO OF DAYS PRESENT IN ORGANISATION ? IF ANY EMPLOYEE WORKED FOR 20 DAYS OUT OF 26 DAYS IN MONTH THEN WHAT SHOULD BE DEDUCTION FOR THREE ITEM MENTIONED ABOVE ? WHETHER IT WILL BE IN PROPORTION OF NO OF DAYS WORKED OR WHETHER IT IS FIXED EVERY MONTH ON THE BASIS OF CTC KINDLY ADVISE ON THE MATTER CIRCULARS ARE WELCOMED FOR REPLY

SIR
We are providing transport service and issue sale invoice for our service. The party will deduct tds in our payment. we account it
dr TDS
cr party name

but TDS ledger not closed. What are the entries required for tds ledger to be closed?
guide me pls

Hello Experts,

We are a Manufacture of Electric Vehicle. For getting approval of the vehicles for manufacturing we are required to get the model approved from various organizations like ARAI, ICAT, etc. Only after the approval of such organizations, we can start manufacturing the vehicles. My question is whether such fees paid can we capitalized or are these required to be shown as expenses. Also, we have paid land booking amount for the land allotted by Rajasthan govt. Whether such land booking amount is capitalized or not???

SIR
Is the Balance sheet compulsory and to be audited for all of small business?
......... AND........

A Truck Company which has own trucks is doing its business in the name of "Adithya Roadlines" in the first two years. Then, it has registered its business under the Companies Act
After Two years in the name of " Adithya Roadlines P Ltd".

It took one year after renamed as "Pvt Ltd".
Still it has not filed any balance sheet.

Whether we should prepare balance sheet for last three years or One year?

Thanks in advance

Dear sir

In the month of July 2018 heavy rain and flood Stock place (Godown) fully destyrod and we got maximum( Loss) goods damage Rs. Near about 34 Lacs. All stock cover under insurance. first of all insurance comany asked to us they will settle the calim soon. due to stock damage my GP & NP was both are natagive value and i have fild the ITR in Losses. We are trying to conntect with Insurance company to settle claim but they did not respond now he totaly rejected the claim due to some Policy & address issues. so Please advise to us how to adjust the amount in books of account. earilery we have passed the below entry :-
Dr. Goods Damage (Indirect exp. ) 31.03.2019
Cr. Purchase a/c

Dr. Insurance Claim receivable ( Current Assets ) 31.03.2019
Cr. Goods Damage

Please advise how to NIL insurance Clain Receivable amount from boos of account.

Dear sir

Due to heavy rain Godwon roof leakage and damage some goods wroth rs.19800/- its conver under insurance Please advise tous below entry is right or wrong

Dr. Insurance clain receivale ( Under Current assets)
Cr. Purchase account