One question Dekhe koun genious hai In the partnerships When a partner admitted We revalued our assets and shows the revalued figures in balance sheet Now tell me whether it is not the violation of basic concept PRUDENCE And hisorical cost concept

In our proprietorship firm, we already made payment of salary to employees through bank during Financial year 2015-16 without deduction of TDS. But in April we deduct TDS for whole year from the April month salary & filed tds return for the quarter ended in March. Now I want to know the exact treatment in tally how to present the effect TDS deducted & deposited. If I passed given below entry on 31.03.2016
Salary (Ram ) A/c Dr. (from tds amount )
To TDS Payable on salary
then we are claiming the excess deduction of salary during financial year 2015-16.

For example: Salary to Mr. Ram paid of Rs. 5,25,000 through bank during FY 2015-16. In the month of may from the salary of april month TDS of Rs.9700/- has been deducted & deposited. Now what will be the journal entry for this including there is Interest on late payment of TDS on this amount.
Give me solution as soon as possible.

Respected sirs, we are hired a super senior citizen as an internal auditor to do the audit work for a period of one year.A sum of Rs.25000/- p.m was given to him as consultancy charges. Now, my question is should I deduct TDS? What is rule for deduction of TDS upon consultancy charges for a super senior citizen?

I have incurred incorporation expenses 20000/-. i have not yet started any business and no more transactions upto 31/03/2016.My query is can i file nil return that means showing above expense under 'other non current assets' ?
or do i need to file loss return by booking above expense as per AS 26 ?

Kindly clarify with your valuable decisions

Is TDS applicable on premium paid towards Extended Warranty?

how to treat the forex diff. in all the relevant account relating to raw material purchase on the date of transaction and on 31.03.2016
say: good purchased $5000 on 1.1.2016 ($1= 42)
taken loan from bank to meet the transcation, bank paid $5000 on 10.1.2016($1 =46/40)
we repaid the loan 20.01.2016 ($1= 50). how to treat in financial statements?

There are 2 co. x and Y, X gives Hazardous goods to Y and Y convert that Hazardous good to Normal and sells to Other party now Y receives money from X for receiving Hazardous goods now Y wants to issue invoice to X What are the duties and taxes applicable?.

Dear All,
I have Depreciation has been charged on remaining useful life of the asset based on the book value as on 1st April 2015 in terms of Schedule II of Companies Act, 2013. i e Rs. 12.48 Lakhs and as per Income tax act i e Rs.13.54 Lakhs.
please let me know Dep as per IT act is more than Companies act

We have book publishing house, printing of books are done from outsiders. Whether the printing of books are to be consider as direct expenses or indirect expenses. Provide your suggestion to me.

An Air conditioner(A/c) distributor sells an A/c to its customer in exchange of their old A/c by giving them discount of 3k. this old A/c's are sold/scrapped @ 4k or 5K. so how the transaction to be recorded in books of accountss??

Thanks in anticipation