I have seen that some organisations are classifying there liabilities into short term and long term on the basis of the EMI's/ installments payable within or after 12 months.
Lets say that if they have taken Term loan from XYZ bank , then the EMIs which are due for payment within 12 months to XYZ bank is classified as SHORT TERM BORROWINGS and rest EMI's are classified as LONG TERM Borrowing.

Is the accounting method adopted above is correct ?????

whether this exps are direct or indirect for hotel and restaurant ? rent paid for building electric bill of hotel telephone bills cable connection bill for guest rooms salary of house keeping staff front office staff restaurant staff like cook chef , waiter , caption etc. i hope that i will get reply from expert . exps for water softener
thank you

I have a doubt on inventory. Here the company (a palm oil plantation) is capitalizing stationaries(catridge, toner, papers etc), fuel for vehicles used for administrative purposes, electrical & other construction materials for building staff quarters, rice for staff etc. These items are in bulk quantity and they expense it when they use it. Is it the correct treatment or they should expense it on purchase?

Dear Sir, I want guidance from you, our relative file ITR for getting refund of TDS by ONGC. returns file as a legal hair but IT department had issue cheque on name of died person name.till it's OK but now problem is that how can that cheque clear of named died person. pls guide to us process of that cheque deposit method. thanks

Sir/Mam, I am registering online at income tax site , all documents that i have , contain old address where i use to stay.Now i am residing else and no document of mine contains new address.So my question is that whether i should put address what is in PAN or which i am residing . What if i put the address where i am residing.

Thank you for all not giving answer to my question?

What will be journal entry.

1. we purchase of material on credit of Rs 1000 / - & deducted TDS of Rs 100 /

2. we sale material on credit of Rs 2000 /- & deduct TDS of Rs 200 / -

Waiting for feedback.

Plz let me know below query

Good will is current asset or Fixed asset?

guys interested for ipcc group study

what is the difference between income tax depreciation and company act depreciation