Hi Experts, I had classified all our broker's commission a/c under Sundry creditors head in Busy software as guided by our CA.There are around 1500 brokers and there are only two entries in these accounts.I.e one is for commission payment in cash and another for tds deducted on debit side of the a/c.why all these a/c's showing negative balance in balance sheet under sundry creditors list as I have paid the commission in cash so there should not be any liability now.kindly help me where I got wrong.

sir I got confusion about tds on salary calculation.pls tell me how to calculate tds on salary

Hi,

I would like to know about the what is the Difference between Fair value and , market value


Regards,
Srikanth M.

What will be the TDS entry of Commission paid in cash

Journal entries for Jewelry given to winner in a lucky draw.also for commission given to reference made by people who are in networking. and heir treatment in Balance sheet if any

please let me know the following

If advertisement exp Rs-100000/- & service tax Rs-15000/-when we make the payment after deduction of TDS,we pass the entry

Adv.... .Dr100000
Service Tax...Dr15000/-
TDS @2% 2000/-( TDS deducted Gross Value- Service Tax *2%)
To Party 113000/-

Is the above entry correct.There is any violation of AS1

Regards
Amit Nandy

a company publised a congratulation adv. on 15th august.
kya ye expenses advertisment & publicity me jayega

http://www.cybex.in/Notifications/56-2000-Notification-Exempts-Gold-Silver-2591.aspx
we work in this above link.

we import from same party and export to the same party under custom notification 56/2000. so as per accounting purpose will this come in export sale and import purchase or just a labour sale.

Please find below details of fire claim received by our company, please provide your suggestions for its treatment in Profit & Loss and balance sheet during FY 2015-16 and its tax implications.



(A) CLAIM LODGED TO NEW INDIA ASSURANCE CO. LTD. FOR LOSS (Rs. 25300574.69)



1) AGAINST STOCK : Rs. 1,85,20,236.69



(a) (DURING F.Y. 2012-13) Rs. 1,73,26,511.69 (TREATED AS INCOME)

Raw material Rs. 23,11,539/-

Stores Rs. 8,20,257/-

Finished Goods Rs. 14194715.69 (Material Rs. 1,30,00,998.34+Excise Rs. 11,93,717.64)

(b) (DURING F.Y. 2013-14) Rs. 11,93,725.00 (wrongly excise on Finished Goods again claim) (TRANSFERRED FROM CENVAT RECEIVABLE A/C TO INSURANCE CLAIM A/C)



2) AGAINST FIXED ASSETS: Rs. 67,80,338.00 (TRANSFERRED FROM FIXED ASSETS TO INSURANCE CLAIM A/C)



(B) CLAIM RECEIVED : Rs. 1,53,04,016.55 (DURING 2015-16)



1) AGAINST STOCK : Rs. 1,12,63,212.91

2) AGAINST FIXED ASSETS: Rs. 40,40,803.64



(C) SHORT CLAIM RECEIVED: Rs. 99,96,558.14
1) AGAINST STOCK : Rs. 72,57,023.78

2) AGAINST FIXED ASSETS: Rs. 27,39,534.36

Dear Experts, Could you please tell me that if company received Income Tax Refunr for F.y 2014-15 in the year 2015-16. what entry will be made in the company books ? Assessment has not been done for the year 2014-15 ?