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13 July 2020 at 12:06

Day Book

SIR
Whether recording the transactions in day book is only for the purpose of viewing / checking ? or for any other reason?



thanks in adv


11 July 2020 at 16:40

Tds declaration

SIR

A Transport Private Ltd Co.having all its trucks in the name of director, issues bills in its own name for the services provided to his party. Then, Party remits the payment after the deduction of tds.

Here, should the company issue any declaration for having the ownership of all trucks in the name of its directors to the service recipient like individual transporter?

guide me please.
thanks in adv


11 July 2020 at 15:53

Accounts treatment

SIR
We,Private Ltd , are providing transport services - No vehicles are in the name of company but only the directors of the company have the vehicles.
Whether the income and expenses of vehicles should be accounted in the books of Company or in the books of individual (i.e) directors?

In case the accounts to be made in the books of individual (directors), Should the directors be treated as sub- contractor to the business?

thanks in adv


11 July 2020 at 11:24

Accounts treatment

SIR
We,Private Ltd , are providing transport services - No vehicles are in the name of company but only the directors of the company have the vehicles.
Whether the income and expenses of vehicles should be accounted in the books of Company or in the books of individual (i.e) directors?

In case the accounts to be made in the books of individual (directors), Should the directors be treated as sub- contractor to the business?

thanks in adv


I Arun Thomas have made an NEFT of Rs. 5000/- to Mr. Manoj. so my first accounting entry will be
Arun A/c Dr. (NEFT)
To Manoj A/c.

unfortunately its unpaid & bank returned it.
so how to treat it & what is the term used for it,,, like (Check Bounce)

Please advice


10 July 2020 at 02:34

Regarding TDS on professional fees

Hi
I want to know that what to do if forget deduct TDS on professional fees is exceed 30000/- yearly professional fees is rs.30257/-
Please help me what to do and how to do...???


09 July 2020 at 11:49

ESI

Hi all..
One of my colleagues got an increment and crossed ESI limit of 21000/-. I mentioned his salary is 0 while submitting ESI return, but not getting proper reason in downdrop menu in ESI. What to mention? Thanks in advance


Hello sir/Mam,
I want to know the treatment of inventories/opening/closing stock and creditors in the balance sheet for Tent house(chairs,tables,crockeries,fan,lights,etc) rental services provider.
Also these items would be considered as inventories or fixed assets nd depreciation applied to them if asset.


08 July 2020 at 16:21

Triparty agreement

we are in construction business. allotted 1 flat to a party A. he paid us total sale price. now he selling the same flat to mr. B. Here final sale agreement will be between builder & mr. B.
1. Can we to triparty agreement stating mr. A as confirming party ?
2. what is the accounting treatement in books of accounts?
please guide.


Dear sir,

As per AS-13 all long term investments are valued at COST unless there is permanent diminution in value.

What is the year end accounting treatment for long term investments in mutual funds by private limited company (INDAS not applicable)

What is the accounting treatment for mutual funds as per INDAS

Thanks & Regards,
SAI KUMAR
+919642414296




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