Dear All,
Please help me, If I sold a good having Value of RS 1000 Plus 18% GST extra. Need to Give 10% discount and Deduct 5% TDS. Then how invoice is draft and entry in telly.
Thanking You

Ours is a pvt ltd company in the shipping sector. Recently at the time of berthing of a vessel in our berth an accident took place resulting to some damage being done at our jetty. We estimated the cost of repairing the same which came to Rs.76600+gst@18% totaling to Rs.90388/- which the ship owner had already paid to us. The repairing job undertaken by one of our contractor is going to be completed shortly. My question is the accounting entries to be passed for the receipt of Rs.90388/- & also when the repairing charges pmt of the same amt is to be made.

HI,

CAN ANYBODY LET ME KNOW HOW THE BANK CALCULATES DEBT SERVICE COVERAGE .IS IT BY NET INCOME(EBITDA) DIVIDED BY DEBTS SUCH AS LEASE FINANCE.PLEASE CONFIRM THE BUSINESS LOAN AND OTHER ADVANCES TAKEN FROM BANK ARE INCLUDED IN THE CALCULATION OR NOT

In our Company We Organize a Event In Which A Vendor who was a Event Creations Who made a Bill of Stage Fabrication,Technical Services,Entertainment,And Logistics Services Apart of It they Have Charges a Management Fee May I know on Which Section should it considered 194 (J) or on Composite Servises 194 (C).
And TDS Calculation.
Please Guide me

Respected Sir,

I purchased room heater worth 2000/- for office purpose now my question is:-

1- In my books of accounts what should be shown either fixed asset or expenses ??
2- Can I take GST input on it ??

Sir,
i want to know the depreciation calculation for company & non company for WDV & SLM

Date of purchase of asset 1/6/2019
Asst value Rs. 10,00000
Residual Value Rs. 2,50,000
Effective life 10 years

so how to calculate the depreciation for the year, first year, last year in both the method

Thanks
Suhas

Mera GST 2A par Banks ka kuch details show kar raha hai Eg. Axis Bank Rs. 100 CGST 9 SGST 9 iska kiya entry karu tally par.

Dear Sir,
1. Kindly let me know How to post Entries for a Bond bought at Discount in Tally?
Facts are :
Bond bought for Rs.960/- (Market Value) on 15.01.2020.
Face Value : Rs.1000/-
Discount : Rs.40/-
Maturity Date : 20.3.2026.
Coupon : 10.15% p.a.
Frequency : Annually.

2. Also let me know wehether we should use Straight Line Method or Effective Interest Method for Amortization of Discount?

Sir, I have submitted 2 cheques for Rs.500000/-each in my name and my wife’s name on 22-10-2014, along with deposit applications to LIC Housing Finance Ltd., The cheque was presented to bank on 24-10-2014 (not on 23-10-2014 the next day ) after a delay of 1 day. This delay is costing me 1000000 x 9.65/100/365= Rs.264/-. The cheques were cleared on 25-10-2014 and my account was debited with the cheque amount of 5+5 lakhs. on 25-10-2014. LICHFL issued fd receipts as: LICHFL Receipt no621630 Rs.500000/- @9.85% halfyrly 27-10-2014 to 27-10-19 in the name of my wife and me as nominee. LICHFL Receipt no621631 Rs.500000/- @9.85% halfyrly 27-10-2014 to 27-10-19 in my name and my wife as nominee. On complaint to LICHFL to change the date of my deposit from 27-10-2014 to 25-10-2014 as I was debited the amount on 25-10-2014, LICHFL has replied that they got credit on 27-10-2-14 (screen shot were furnished to me as proof) and they did not change of the deposit date from 27-10-201 to 25-10-2014. Banks took 2 days to transfer funds from Visakhapatnam to Mumbai electronically From 25-10-14 to 27-10-14. I have to forego 2 days interest. While refunding the deposit amount We were paid interest on 28-10-2-19 and the refund of deposit amount 5 lakhs +5 lakhs amount on 29-10-2019 instead of 27-10-2019.. 27-10-2019 is Sunday and bank holiday due to Diwali. So we should get the payment on the next working day. In such a scenario is it not the responsibility of LICHFL to calculate interest up to 27-10-2019 pay the same to me instead of interest up to 26-10-2019. Please clarify Sir. the rule that date credit will be treated as receipt does not apply to me as customer. Should I forego the interest on all bank transaction time on both occasions as customer. where can i get the guidelines of regulator(like RBI) in this regard Sir Nageswara rao

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Our company a PSU, constructs new electrical sub stations and undertakes up gradation of electrical infrastructures and for this places orders to contractors. Contractors delay in completion of projects and LD is imposed by our company on the contractors and collects LD from contractors by way of deduction from their bills. What will be the treatment of LD in books of accountants of our company, i.e. can it be capitalized / reduced from the values of CWIP/Fixed Assets or can it be shown as an other income in books of account ? Please advise.