In the light of the recent failure of the PMC Bank in Mumbai, please advise whether Interest applied on maintenance dues outstanding and not recovered, as at year end, can be taken as Income in Income-Expenditure statement of Cooperative Housing Societies in Mumbai Maharashtra, since that serves to inflate the actual profits, on the basis of which decisions on incurring further expenses are taken at the AGM. Thanks. S.Sanyal.

Hello Experts,
Please tell me,how should i pass journal entry if amount is credited in the bank on cancellation of Bank Guarantee..Which A/C should be credited and under which head.?

Thankyou

Dear Sir

fire broke out the premise of the dealer and some goods destroyed. we have received some claim from insurance company
Please suggest below entry in books of account is correct or wrong
Stock Journal Consumation entry passed in tally

Loss of Fire 25000/- Dr. (Indirect exp.)
Stock loss by Fire 25000/- Cr. ( Indirect income)

Loss of Fire 4500/- Dr.
IGST Input 4500/- Cr. ITC Reversed

Insurance Claim Receivable 20000/- Dr. (Current Assets )
Loss of Fire 20000/-Cr.

Please advise to me sir

Can a director whose DIN is deactivated " due to non filling of DIR 3 KYC " sign the financial statements of company ?

Dear Sir,

Few days ago the roof of godwon fell on Goods cause damage of maximum goods. We have claim the same from insurance compnay and got a cheque from. Please suggest how to adjust the same in books of account. means to what type entry pass in tally.

We have issued a cheque undated to the bank . Question is how is that gonna be showing in the books ? Is it necessary? If so what would be the entry .

Hello...

Can i deduct TDS on the basis of SAC code Services?

res sir,
kindly clarify me how many amount in cash received from my customer(before issued the invoice)

What is the accounting treatment for Site office building constructed at construction site, which will be demolished after completion of the project?

Whether it needs to be capitalized as Fixed Asset or debited to project cost?

We are facing issue at time of preparing Financial Statement .We have two branches and also maintain books of accounts separately.So We not understand how to consider Branch Transaction at time of preparing Financial Statement.
I requested u please provide reasonable solution regarding the same .