I am a partnership firm. I have taken 1 crore loan from bajaj finance and bajaj finance has given me 94 lacs. It has cut 6 lacs as insurance money on the ground that if in case anything happens to the loan taker, the descendants do not have to pay the balance loan. my question is what shall be the treatment of rs. 6 lacs in accounting and taxation part.

Dear Sir,

I am working in a proprietoryship firm, i want to know whether unsecured loans in the books can be transfered to capital a/c?

As far as i am thinking, if we decide that the liablity of unsecured loans would be born by the proprietor, and thus proprietor would introduce the capital in the books of proprietoryship firm, how correct i am ? and is there any tax and accounting implication that i may be ignoring? please experts reply quickly

We have a company in which production has not been started yet.where we should include the creditors for cement,bricks,creditors for making the foundation for machinery etc. according to sch vi(R)?whether it should be included in trade payable or in other creditors??

what is the difference between travelling expences and transportation expences?

Dear Sir

Please all detail Debit note & Credit note

is it necessary to record foreign exchange fluctuation difference if payment for the entire purchase transaction is made in advance before the goods are actually recieved and recorded in accounts.

Dear Expert,

I need your help regarding calculate salary of an fixed employee can you suggest me how can calculate.

10 Basic salary 10000/-

working day - 22 in January month

if i am not wrong then fixed employee salary calculation on fixed 30 days or not.or count every month in as per days.

Is their any limitation for recording of entries in tally.

I facing the same, tally is not accepting Payment and Receipt voucher

Error message : no cash or bank a/c debited or credited.

Please revert

hello to all.. i m doing multiplaces accouting and my query is about the finalization of balance sheet

Please tell me what are the points to be noted while preparing Profit & Loss A/c as well as Balance Sheet.

Regds,