Sir, we have taken an amount of 10,000/- as a cash loan from a person, which has been utilized to pay an outstanding of a firm. Now, we have paid back 10000/- as a cash to that person post collection from members. Now, How should we enter these multiple cash entries in a balance sheet ? Like, Unsecured cash loan, payment to other party, repayment of cash loan. Thnaks

Partnership firm acquire loan from bank for construction of building . Partners of the firm getting rental income from the building and the same is paid to bank as EMI for the loan borrowed by the firm.My question is whether a partner can claim interest under section 24 b when he get rental income from building

Depreciation rate for Manual Hand Pallet Truck

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Salaries person Income tax slab rate for FY 2023-24.
Please provide.

Respected Sir.
Good afternoon
I am prepare Balance sheet for Sole-Proprietorship In new format (Non Corporate entities ) So where i Show proprietor has some deposit amount in PPF account and have some Insurance Health and other so can we insert one or two column in capital account,s format or note . In format have below
Name of Partner/ Proprietor/ Owner
"Share of profit/ (loss) %
As at 1st April 20XX (Opening Balance)
Capital Introduced/contributed during the year
Remuneration for the year
Interest for the year
Withdrawals during the year
Share of Profit / Loss for the year
As at 31st March 20XX (Closing Balance)
No mention any other detail so please provide your valuable suggestion

DEAR EXPERTS
Greetings...…..,
Received invoice from a pvt ltd company for (service charges on AI based remote proctoring service for conducting entrance exam through online ) value RS 76,700/- including 18% Gst. As per the terms service charges are covered under TDS , whereas my question is conducting online exam through a private software is applicable for deducting Tds or not. Experts kindly advice me with your valuable answers.

What to do in month end closing? I know year end closing. At the year end closing Dep is recorded, provisions-income tax,payroll are recorded, TDS and GST adjustments are recorded.
One more question 2B is finalized upto 13th of next month suppose month end closing is done 10th of the next month and if we found some entries in 2B which are skipped to be recorded in books then what to do record the transaction in the same month or next month?

Can the updated return be filed after adjusting the refund with additional penalty of Rs.5000/1000 as the case may be?

Thanks in Advance

If the payment is received from the client on advance basis in March, rendering of services will take place in the month of April. Is it okay to raise a bill in the next month when actual services will be provided? Or it needs to raise by this month since the amount was received in this month?

Hello Team,

What is the proceducer to buy and sell the Private Ltd Company In india
What are the steps on buyer point of view & seller point of view?
Also advise latest update on this .