There are any limit regarding Fixed assets considered as expense or Capitalized as per current law?

Dear Sir/Madam,

Our company has own residential building for "own employees" behind factory premises. Company deduct partially HRA of employees from salary.

1. Can we net off HRA expenses in our books of accounts.
2. Is it company's house property income.

Please the query with evidence.

Regards,
Sanjeev Verma

hi all,

I got a bill from a vendor he is paying electricity on my company's behalf and then ask for reimbursement. which for 19000, he is also adding service charges of 2850 ( which is 15% of electricity bill). please tell me under which section service charges would go? 194H or 194C.

Sir i m working with property sale purchase buisness so want to book a entry if we sale a land to our client rs 150000 so please tell me the entry in tally

Dear Sir,

If annual income less then 249991/- including of Bank interest. can we file to ITR.
i never filled ITR.

i want to know which entry is correct totally confuse please tell me journal entry of prepaid expenses for my point of view is

Prepaid Rent A/C DR
To Bank
(exp paid in advance)

Rent Exp A/C DR
To Prepaid Rent A/C

The net effect of entry is

Rent Exp A/C DR
To Bank

but the correct entry is

Prepaid Rent A/C DR
To Rent A/c
how, can any one explain when we paid exp in advance then bank account should be use as above i mention. please explain the step wise because first we paid exp in advance and then in future we received invoices shoe both the event/transaction.

Thanks
Sanjeev Kumar

sir
I am a private medical professional .My all income is in white .i show everything in my balance sheet. my query-
How much money I can deposit in different bank savings accounts without gaining income tax attention? somebody told me if cash deposit exceed 10lacs ,the tax authorities can ask u .for this.

One of the Indian entity has imported a machine on CIF basis for 1ooooo us dollars. It has paid 30000 us dollars as advance to the party. Now as on 31st march 2018, should the entity recognise 70000 us dollars as liability or just show an advance of 30000 us dollars.machine has not arrived till 31 march.

Dear All,
We have pending workers loan since from last 2-3 years & there is no possibilities to recover from them. Which entry we have to pass if we
want to write off the said workers loan. Is there any statutory formalities are there? or any legal formalities?
Kindly advice me
Thanks,
Anjan Mehta

Dear Madam/Sirs,

As a society Accountant, discovered an error in Reserves & Surplus opn balance FY2016-17 of 5L short, which affects closing bal. This is offset by Investment A/c of equal amount in asset side. Now since closing takes place in FY 2017-18, this error noticed, and need to know what action needs be taken ? Income tax return filed from income statemet which is somehow correct. Error only in audited balance-sheet 2016-17. Financial statements not yet filed in Registrar of Societies FY2016-17

What are the implications and what needs be done in FY 2017-18 closing.

Thanks n regards Alex G.

Read more at: https://www.caclubindia.com/forum/error-in-audited-balance-sheet-of-fy-2016-17-quot-res-amp-surplus-458691.asp