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.

We had certain mutual funds which were redeemed in September 19. On 3.10.2019 we recieved bonus units from the fund while already complete redemption of previous units was done.What will be the accounting entry for these bonus units and what will be the value to be shown.

Can you guide me what is the accounting entry for 1)Parent to a subsidiary sales, purchase, loan 2)subsidiary to parent sales, purchase, loan. What should be accounting entry if the parent provides part of margin money to obtain a bank loan, is margin money should be treated as a loan to subsidiary by parent and vice a Versa?

Hello All,
I've a couple of doubts in understanding TDS application in Credit Note. Hope you can clarify it.

Consider I've a tax invoice

Invoice 1
Base Amount : 100
GST : 18
TDS : 10
-----------------------
Total Payable : 108

1. So if the seller has to issue a credit note the above
A. Will the credit note be of 108 or 118?
B. In case I do not want to transact with the seller/vendor anymore, will he issue me a credit note of 108 / 118? And much cash will I receive from the vendor?
C. How does the seller/vendor deal with TDS?
D. When I apply my credit note for the above invoice in a new invoice (Invoice 2), will I apply 108 against the invoice payable value(excluding the TDS) or will I apply 118?

Its very confusing for me on how the reconciliation will work for TDS.

Please help me out.

Thanks in advance.

Our organisation set up for procurement of agricultural product. We give market cess on purchase price of agricultural product. 96 quintal stock have damaged due to rain. Can we add market cess for calculation of loss statement ?

Somebody director in the company he has a own car but company pay car Maintenance expenses so as company norms correct or wrong kindly suggest to me
Thanking you,

How to show in our Private ltd company balance sheet the loan funds availed by Mr. X who is a relative/friend of Company CEO(also the owner of company having 98% shareholding) where the entire Loan availed by Mr. X has been used to fund the business of the Company. The company also pays the EMIs of this Loan.

i want to learnhow to download balance of unlisted company.as i am making a project on rotomac scam and want balance of that company