I am working in a Pvt. Ltd Company where the Salary of a current month always paid in the 12th to 15th of next month.

So my question is can i every month end(30th or 31st)transfer the salary to salary payable account and deposit TDS on Salary with in 7th of next month.

Some time cash in hand, sundry debtors shown into the liabilities side in balance sheet in the tally. Why?

Kind Attn : Dear Sir/Mam

Pls adv, if our company receives payment in Feb15, for a tour which starts in next financial year i.e. 2015-16, Kindly explain the entry to be passed, if possible pls explain the main and the subheads.

Thanks and regards
Gurvinder Singh

Hi, In our company we buy some batteries,that book as expenses, now we buy new batteries in replacement of old,and we get some value of old batteries.

my query is that what is the entry of that amt i should pass.
Ex. Old Batteries value is 114000
New batteries value 170000
old batteries taken at value 30000

So what is the entry of 30000 i should passed?

is IPCC syllabus for may 16 is going to change....n if it is den what to study now...coz i rgstrd nw...n have institute sm n pm...n if it changes den.....plz suggest me wht to do.....hw to study.....

" In the current year(2014-15) we found that credit purchase of 2012-13 is overvalued by rs. 10800 and payment for the same was made.

The ledger of the party was closed during 2013-14.

now we have received back Rs. 10800 from the same party through the cheque."

The problem is that , how we can pass journal entry for rectification of error ??

Dear Experts

Can we take Depreciation as per Income Tax act in respect of non listed company (as the option given by either as per companies act or income tax is governed by old Companies Act 1956 ) as per new Companies Act 2013

Or its Mandatory to take depreciation as per new rates of new companies act 2013 not by income tax act 1961

& what are are consequences if any of non compliance with new rates & following income tax rates

Kindly guide me on this

does a company need to deduct tds on contractor on buying evening snacks every month from a store if the aggregate payment exceeds rs. 75000/-?
Also is 194c applicable on buying office stationery every month if the limit exceeds?

As per CAS 6, while determining material cost we deduct trade discount but why we do not deduct cash discount from total cost? watts the difference between these two?

explain deffered tax