If we are transferring money from one account and bank charges is deducted by bank with the transferred money how contra entry will be done? Is the following journal is right


A/c No.4751......................Dr 10000
Bank charges......................Dr 5
To A/c no.6541 10005

If one co.has paid up capital more than Rs.50 lakh but doesnt have any loan outstanding and turnover too is less than Rs.5 crores even then CARO 2015 would apply??????

In other words now all of the 3 conditions simultaneously to be present for applicability of CARO 15??????

If a payment is done in advance in foreignt curency for supply of material, but material is not yet received neither inovoice booked till 31th March 2015.(Only payment done)
Is it compulsory to consider loss or profit due to fluctuation in FOREX till 31th March?
Kindly guide me!

Dear Friends / Experts,

Please guide me on the following, IF POSSIBLE:

Query on Tally Ledger Creation for ST @ 14%.


Can someone please explain me steps to create Ledger for ST @ 14% (Auto Calculation, while creating Bills in Tally Version 9?)?

Note in Service Tax Details Screen: Service Tax @ 14% should appear automatic and Cess, SHEC should not appear or it may have 0%.


Your reply, please..............


Thanks in advance for possible replies from all concerned.

I paid to a party a cheque on 30.03.2015. The party cleared the cheque on 04.04.2015
While making journal entry what date will i consider is that when i paid the cheque dated 30.03.2015 or when it get cleared on 04.04.2015

what are the tax implication on the below entry

1 director had gone to US for work and all the expenses were reimbursed at a later date and the conversion rate for $ to ₹ was on the date of reimbursement so what to do for profit of loss on exchange fluctuation?
In Accounts and tax

Sir,

A proprietary concern is deducting 0.5% of gross salary as staff welfare fund from all the employees to meet emergencies. My concern is to know that there will not be any company law or legal obligations for deducting from employees.

One of my friend went for the interview. In the interview, the interviewer asked him one question. The Question was like this.

A Company is using an asset which has been depreciated for full year and its book value has become zero, but the asset is still in usable condition, the company wants to continue to use the assets instead of writing off. So how to make use of the asset for the next financial year.

So anybody can please tell me the answer?

Facts:-
A company enjoying the Tax holidays period. In year six, the company had books profit of Rs. 100000 and tax loss of 50,000 being the loss in this year the company has not availed the benefit of the deduction.Further, in the year seven the company has Accounting income and tax income of rs. 1,50,000 and 50,000 respectively.The company has set off the previous loss and accordingly again not claimed the benefit of the deduction.
Query:-

What deferred tax liability/assets would be recognised in books for the both years?

Dear All

Is there is any changes in the performa of changes in the P&l A/C or in the balance sheet as per company act 2013.