Hi Friends

purchased cash counting machine
is it comes under fixed assets category
Office equipments or plant and machinery or under any head.

plz specify
is it liable to depreciate .

sir
i am a medical professional .i am doing my profession in individually name .i have two savings accounts and one current ac in individual name.please clarify
1. can i transfer some sum from current account to savings account or savings ac to current ac to earn interest from savings ac for surplus money.
2.for personal investment purpose like share tradings,fds ppf etc can i deposit cash directly to my savings ac.?
3.is it necessary to deposit cash first in current ac instead of saving ac ?

what is reverse charge in servise tax

if tds is deducted on rent recd and bank int as shown in 26as,then what will be jnl entry to be passed for tds in b/s?

I was finalising accounts of one firm. what is the maximum interest that can be allowed on capital? since net profit is 24032.9 And partner's opening capital is 853901.63. last year 12% was charged on capital and if I charge the same % then it goes into loss and no salary can be paid. can I charge 1% on partner's opening capital?

1.Can we capitalise ducting expenses incurred for installation of Centralised AC?

2.What will be the treatment in case of rented property or building?

3. In above mentioned case if the property is rented, then in which category (asset) the above cost will be capitalised?

Dear Sir in a proprietorship firm Purchase NSC Name of self. Then we can show in books for investment and get 87A rebate also..... if yes than why if no than why

Regards

Nitin Kumar
+919034777218

maintenace charges paid for flat should be debited to flat shown under investments or should be debited to profit and loss account ???

i purchased shares 2 years back. after two year i sold the shares. pls advise about income tax on profit pn shares. how i wil treated in computation. profit is taxable or it become long term capital gain. pls advise.

pls guide for entry of rev st payment and can cenvat credit be availed.