AJAYI

For calculating the peak balance, should i consider the per day balance at the end of the day or after each transaction? Also, the statements reflects the posted balance for each day, should i include only the posted balance or the pending balance.

For example lets say, I deposit 100 dollars and take out 50 dollars - > the balance at the end of the day would be 50 but the maximum balance on that day would be 100. Which should be considered?


Swarup Paul
11 January 2025 at 21:13

Bill from receipant

I have started a proprietorship business and am paying an individual for freelance services on an hourly basis.

My concern is:

Should I issue her an Bill with my business logo and address, including my proprietor details, but mark it as "Bill Received From - [Her Name]" instead of "Bill To"? Is this valid?

Alternatively, how should I manage the documents for her payments?

Should I provide her with a payslip? If yes, how can I include hourly details in the payslip since she works on an hourly basis?
Please advise on the proper documentation process in this scenario.


Tejas Chaudhari
11 January 2025 at 19:36

Can Stamp duty taken as a expense

If Builder pays stamp duty on flat can same be considered as a expense in Income tax return


MBK AND ASSOCIATES

PLEASE SUGGEST ITC CAN BE CLAIMED OR NOT


NISHANT SIPANIpro badge
11 January 2025 at 18:08

Llp 18 months is allowed?

In case LLP has been incorporated on or after 1st October of financial year, then LLP can close its first financial year either on the coming or next 31st March i.e. LLP files its first financial year details for 18 months.


Sreekumar J Paipro badge

company balance sheet shows surplus ( negative balance) on the asset side of the balance sheet. How it should be treated while preparing liquidator's statement?


Jhansi Geddam
11 January 2025 at 15:27

Salaries to Executive Committee Members

Can salary be paid to an Executive Committee member if he/she is spending their entire time and effort in the activities of the Society ? This Society is registered under Andhra Pradesh Societies Registration Act of 2001


VINOD PUROHIT
13 January 2025 at 10:43

Regarding EPR Obligation Charges

Respected Sir/Mam,
i am a purchaser of preform and i want to know that under which head in tally prime does "EPR OBLIGATION CHARGES" LEDGER COMES?. This charges are added in the bill which i have received from the party..

thnks rgds
vinod
8490095003


Somnath
11 January 2025 at 12:11

Capitalization of advance (Incl GST)

Dear All
Is it possible to capitalize an advance (Incl GST) amount with out RA bill in case of construction contract ?


Akshit Jain

If a parent gifts 60 lac via cheque to his adult son and the son deposits the cheque in his savings bank account, does the deposit trigger an ITR filing obligation for the recipient under *Section 139 (1) and rules 12 AB of the Income Tax Act, 1961.? The son has no taxable income.





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