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
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)
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,
We are a partnership firm of two partners. One partner has contributed more than 3/4th capital. In absence of any clause in partnership deed regarding interest on capital, can we give interest on capital to only one partner who has contributed most. This is will be as per mutual understanding of both partners, since profit of firm is very less , it being first year of the firm. Please advise. Thanks in advanceAnswer now
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