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what is the procedure of filing of income tax return by own how to file my return without going to ca
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my query is what is the limit of audit for a books dealing firm is criteria of 8% profit also applicable on this firm
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invoice raised on account of sponsorship in an event. liable to tds? which section?
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We bought an asset in another country (We are the government authority not involved in the business of hedging or FEC ), the initial quotation was R10 000 and we bought it for R15 000.00 because of changes in exchange rates.
How is the difference of R5 000 be treated in the accounting records?
This Query has 1 replies
Sir I am Preparing For CA-CPT For December. Sir Please tell me that how will i achieve minimum 50% marks in Qantitative Aptitude my math is not very gud. In Accounts i m very gud.
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our company purchased certain bearings classified under stores & insurance spares (Current Assets)from a party for Rs.100000/-. There was a clause in the purchase order that if the materials were not delivered to us within a stipulated time we are going to deduct certain amount from the bill.As a matter of fact we deducted Rs.3000/-. my question is whether the stores A/c will be dr by Rs.100000/- or Rs.97000/-.plz provide with the J.entries
This Query has 3 replies
I am a researcher and have paid Rs. 2lakhs a cash for a purchase of an equipment.
Is that allowed or what should I do for this.
I have a grant sanctioned from Govt of India.
Please advice whether I shall carry out cash transactions or not??/
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eg. I have paid. 25000 as advance and receive recharge balance of 26000 and also get commission of rs 150 please prescribe accounting entry of whole situation.
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How much cash can be withdrawal at one go by a Private Ltd. Company for day to day requirements. And the open cheque needs to be issued on whose name for cash withdrawal, it be self, cash or on directors name.
This Query has 5 replies
The accounting entry for a purchase is here as follows,
Dr.Purchases 1000
Cr.Supplier 800
Cr.Scheme 200 (this is treated as income).
The problem is that this scheme they deduct is actually paid by us for their sales promotion expenses (for purchasing gifts,for giving credit note for distributors etc.)
So here are the questions,
1.Should we treat the Rs.200 Scheme as liability?
2.What is the product cost actually we incur for the above product.
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