Does debt includes current liability ?

hi sir plz help me my assessee who want to take a loan for xerox machine Rs 85500/- and he run the business of stationary last 2 year and not prepare P&L and B/s now for laon bank required 2 year B/s how to do plz help me give me hint and format as regard
thanks,

what is royality

i am having a property gifted from my father. in this case what will be its tax consequence? further if i sell the same property then what will be tax application? market value of property is rs1cr. property is long term hold by my father.

if debtors are standing for more than 1 year then how it could be under current assets?

Can grant received from govt. be shown under the head other non current liabilities in the balance sheet?

I am a ca final student who did appear in nov...i prepared only for my 1st grp but did also sit for d 2nd grp...i did my articleship frm a small firm where i was made to do only data entry nd vouching so i have little or no knowlege abt practicl audit nd taxation matters...aftr my xams i got an opportunity to work in a big firm...but i m bit worried as i have little or no knowlege in practical audit work nd since i didnt prepare for my 2nd grp so my tax knowlege is not tht sound...plz suggest whethr i shud join this firm or not...plz do suggest...thanks

What is the difference between Insurance and Prepaid Insurance???

I am pursuing CWA finals, after finals I'd like to do CIMA..I wana know how will be my career if I choose CIMA, is this right option ? and how will be opportunity levels ones I complete CIMA in India and abroad. .

hii!! i m a Account Assistant. following is my queery
As per the TDS Rule, i Stared to Deduct TDS on advance Paymnet Basis . i deduct TDS 2% as it is contractor & he has told that hi has firm PAN Card . but when i received a Bill the PAN no. is of Client Name(individuals) & not the Co. Name. in this situation shall i continue to Deduct 2% TDS or else 1%