Hi,
For salary, ICWA materials suggest that an accrual type entry is to be passed.

Salary Dr(P&L)
Outstanding Salary Cr(BS)

Outstanding Salary(BS) Dr
Cash Cr(BS)

But have talked to certain people and they suggest that provision entry should be passed for Salary although similar to that of accrual.

Salary DR(P&L)
Provision for Salary CR(BS)

Provision for Salary Dr(BS)
Cash Cr (BS)

Quick thoughts would be appreciated.

Thanks
Navjeet

Dear Experts

Greeting of the day to all members.
Query :- generally i have been listening the word such as subsidiary, holding, associate company . Please let me know the meaning of subsidiary and Holding & associate company? do clarify with an Example if possible?

THANKS IN ADVANCE
RACHNA GOYAL

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Ours is a private limited company in Andhra Pradesh.

We have recently formed gratuity trust for our company.

Is it mandatory to register our trust?

If not registered what are all the consequence?

Can we get PAN for the trust without registering?

Kindly guide me.

Thanks in advance

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To ,
the respected sir,


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sir,

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Kindly give me solution for this & also explain me the diff of both the a/c.

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