Dear sir,
i would like to say all of you I am facing one problem.
if i have sale something his value of 10000
but customer ask i will pay cash only 5000 rest will pay by credit card.
so what entree pass in tally.
Pls suggest me.

Best Regards
Abadh Kishor
abadhkishor89@gmail.com

Dear Experts,

While passing accounting entries, net salary received is considered as income. Also is pt,income tax & employees pf is considered as income?Foll entries:

Bank a/c dr
To salary Net Salary recd

PF(Employees contri) a/c Dr
PT Dr
TDS Dr
To salary

Are these entries correct??

Also what abt employers contribution to pf and pension fund...can we pass foll entry:

PF Dr
Pension fund Dr
To Capital

A boundary wall is constructed on rented property, involving expenditure of Rs. 10.00 Lacs. Can this expenditure be capitalised in books of accounts??

Dear Sir Can you please guide me that if the income of a person lies under 5,00,000 to 10,00,000 say income is 670000 after all deductions.we will calculate it by using formula 6,70,000-5,00,000*20/100+30,000=64000.But wt is 30,000 in this formula it is my confusion.

pls

Our newly formed private limited company has taken a office space from an individual for a rent of Rs.65000/-per month. from 1st April 2013. We have paid the rent for month of April & May 2013 without deducting TDS on rent.

We added another floor and revised the rent to Rs.115000/- + service Tax total= Rs.129214/-per month.

Now the owner has raised a rental invoice for Rs.129214/- incl service tax @ 12.36. for the month of June which has also been paid without deducting the TDS on rent.

Query 1- TDS @ 10% is to be deducted on the total rent paid till date i.e Rs.259214/- or on Rs.245000/- excluding Service Tax for June.

Query 2 - Can we remit the TDS together now, if so how to calculate the same. If any interest also to be paid for the delay. Also in future when should I deduct the TDS on rent and remit the same.

Pls help me to calculate.

Thanks

My query is how to account a purchase entry and sales entry in tally for a trading company.
For eg. purchase 1000+50(5%tax)=1050/= a tax invoice. please clarify below mentioned flow is right or wrong.If wrong please explain the correct entry.
1.put entry of stock inward shwon as stock journal.
2.then pass a purchased-tax invoice under journal ie.purchase Dr 1000
ot@5% 50
To ABC 1050
(being xxx purchased)
Now we are selling this product to our client. then I pass the below entries
1.entry for stock outward shown as stock journal.
2.pass a sales under journal ie.
xyz Dr 1155
To Sales 1100
To it@ 5% 55
(being xxx sold to xyz)
is this is right way of accounting in tally?

I have a query regarding valuation of plants as closing stock. One of our client has replication project of banana plants but we are facing problem regarding valuation of closing stock because standard is silent in this issue, so please clarify that it will cost or market value (whichever is lower) or as per management valuation.

Dear Sir,

We have a office land in NCR for which the period of construction expires on 30 th April 2012 during the audit period of FY 2012-13 . We have paid Rs. 10 lakh to Authority for extension of period for 3 years for constructing our building for office usage.

We have to expense the payment of Rs. 10 lakh as Rate and taxes or else we can capitalise to Building – Capital WIP.

Please advise.

I Want to know that suppose if a creditor's dues of 1,00,000. if i made payment otherthan cash mode with a bank charges of 1,00,250.
what will be batter Head of Accounts for 250 paid as Bank Charges or any other treatment.
please suggest me?

Thanks