Hi !
First I want to thanks this website owners for a wonderful resources...Plus lots of friendly helps and replies am getting for solving our accounting problems...Keep it up buddy !
Suggestion: If a notification system is added when a reply is made through email,will be very nice.

Question:-

1) A company has used some of its own stock for its own company use..Like someone dealing in Motor Cycle spares, and used some spares for company Motor Bike !
How should this entry be entered in Tally ?

- Currently, am using STOCK INVENTORY Voucher from the GATEAWAY OF TALLY,deducting the stock plus entering the value...Is that correct ?
Doesnt it effect sales or other things ?

There was a Unfix Purchase of Gold Bar in March of last year, now the creditor produce the invoice in current year 2008-09 for the above unfix purcahse. So what is the Accounting and Tax Treatment.

what is the accounting entry or effect of company law expenses such as payment for increament in share capital of pvt. ltd.company

Dear Sir,

Expenses booked towards hotel booking
should be entered in journal entry or
purchases entry in tally.

Please help me with the same.

Shaikh Samshudin

What should be the accounting entry in tally when the rent of Rs 50000 is paid to director’s,also TDS needs to be deducted and end of year we also want to know the gross payment to director.

As person has taken applied for leave encashment in the month of March-08, but has got sanctioned in the month of April-08 and payment was also disbursed in the April-08.

Now my question is that -

Whether it should be booked as liability in the month of March-08 by booking as expense for march-08, or it should be booked in the month of April-08 as expense.

If it booked it in the month of march-08, whether company is liable to deduct tax in the month of march-08 itself.

and finally, when it will be taxable in the hand of employee, in the previous year 2007-08, or in the previous year 2008-09

kindly reply.

Please let me know any book or Web Site to update / to gain expertise in determining whether particular expenditure is of capital or revenue


I know the basic concept.I just want to update acadamically by studing case laws / example

As person has taken applied for leave encashment in the month of March-08, but has got sanctioned in the month of April-08 and payment was also disbursed in the April-08.

Now my question is that -

Whether it should be booked as liability in the month of March-08 by booking as expense for march-08, or it should be booked in the month of April-08 as expense.

If it booked it in the month of march-08, whether company is liable to deduct tax in the month of march-08 itself.

and finally, when it will be taxable in the hand of employee, in the previous year 2007-08, or in the previous year 2008-09

kindly reply.

What do we mean by Liaison office set up In India.Explain in detailed manner with example.

I have a querry , IT goes like this:

Can a company adopt a policy to write off all the fixed assets below 40000/- ? or whats the basis of fixing the materiality in writing off the Fixed assets and is it covered by any section under Companies Act