What share warrants mean? Is it transferrable? Where this should be disclosed in balance sheet?

Please say me for following:

My firm is a partnership firm.the partners of the firm take salary and also withdraw amount in the way of Credit Card Expenses & Transferd to saving ac.while finalisation their capital is debit bal.

While filing their personal Income tax return can I prepair their Personal Ac Can i Pass all Dr. to their Presonal Expenses & Credit Firm ac.

Eg: Credit Card:(Shopping Done)
Drawings Dr
Firm Cr
is it right way of accounting.

The partners have purchased car,made some fds,Mutual funds. This should be shown in their personal ac the purchas are in their Individual name.


Please guild me so that i can maintain their Personal Ac in Tally or should not maintain

Regards

One of my clients is into the business which falls under 194C

would like to confirm the following:

If he is following cash method of accounting then for the purpose of calculating turnover,i take into account only gross receipts (deposits in bank account)

Now,service tax (ST)is applicable to him so in the ST return i would have to show turnover as actual sales billed during that year

Am i right??
Please confirm the above


Regards
Alka

PS:If anyone has any suggestions as to how to account in tally (cash based accounting vis-a-vis Service tax records) then please share it..

If a company engaged in IT services purchases RAM and other hardwares worth less than Rs.5,000 which increase life of computers by 1-1.5 yrs can be expensed off or should be capitalised?
Total of such purchases over the year amounts to more than Rs.20 lacs.

How to check Pref. shares redemption?
What documents can be checked for the same?

My firm is a partnership firm.the partners of the firm take salary and also withdraw amount in the way of Credit Card Expenses & Transferd to saving ac.while finalisation their capital is debit bal.

While filing their personal Income tax return can I prepair their Personal Ac Can i Pass all Dr. to their Presonal Expenses & Credit Firm ac.

Eg: Credit Card:(Shopping Done)
Drawings Dr
Firm Cr
is it right way of accounting.

The partners have purchased car,made some fds,Mutual funds. This should be shown in their personal ac the purchas are in their Individual name.


Please guild me so that i can maintain their Personal Ac in Tally or should not maintain

Is accounting to be done for Partners personal Return.

Regards

Dear All,

Can you give some reference from Audit book where it is mentioned that organization has to preserve the books fo last years mandatorily.

I had read it lont time back, Can you shed some light on the current modification in this regard?

Regards,

Amit Deokule

Let us say vendor has wrongly billed for the goods sent by him (as shown by the statement sent by him). However the buying company has correctly accounted as such there would be difference in its account..should the auditor comment on this and ask the company to inform the vendor of such wrong billing at his end..

Actual billing - 1 Lac
Billing as per vendor's statement - 90,000
Excess being shown as payable in company's a/c - 10,000 (it is being shown since more than 1 Yr)

What should be the action...

What points are to be considered in audit of Fixed Deposits.

What points should be kept in consideration while checking Fixed Deposit Receipts.