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.

In case of Internal Audit, if the internal audit is not completed due to some dispute with the client although the fees has been paid by the client then what are the options available with the client against the CA and what should a CA do to safeguard himself

can anybody give me a brief working of banks

Pvt Ltd. Co. paid EMI of Personal loan taken by Shareholder and debited EMI's paid to Share Application Money Account.

As A Auditor what should be the prof. opinion.

Kindly refer to Sections affceted of Companies Act.

Can a Company credit a Share Application Money Account by way of raising Debit in the name of Sharholder in Company's Books or Money should be introduced in Share Application Money Account only by payment to compnay in cash.

Its in case of Private Ltd. Co.

Respected Experts,

A Pvt Ltd Company Issues Bonus shares in the middle of the year (1:1) and at 31 March declares Divided at 7.5% (Dividend including for Bonus Shares) Should the company Transfer any amount to General Reserve?
Should Minimum % on the basis of Last 3 Year Dividend be Transfered?
The company has not declined by more than 20% in the Year..