Dear Experts,
we have received an insurance claim from insurance company against insured asset loss. asset scrapped from books due loss of asset in previous year and claim received current year. we have not provided any claim provision due to we have not received any claim sanction letter from insurance company.

i request to experts to please advise an accounting entry for claim received from insurance company which we are not provided any provision in PY and received CY. we are constructing new asset in place of scrapped asset as new capital expenses.

Dear Experts,
in the block of 15% one asset WDV is 14 as on 1/4/2016 and in the block 60% one asset WDV is 24 as on 1/4/2016. pls tell me what should i do with these assets should i write these assets in debit side of profit & loss account by pssing following enties with its full value.... i.e.

Dep A/C Dr.... 14
To asset........14

Dep A/C Dr.....24
To asset........24

please clarify is it correct treatment or not..

Thanks
Ankita Bansal

Hi,

While preparing financial statement, I was confused regarding fees collected and paid, in receipt and payment I have shown fees received and paid, my query is fees revived and fully paid should be shown in income and expenditure or in balance sheet, please help

I am working as cs in NBFC-MFI- MBP-1 TO BE RECEIVED AT 1st BM in F/Y. from the directors of Board as per 184 of CA 2013, for disclosure of interest. The chairman of board is holding director ship /member, trustee /president/ principal/ club member in CHRUCH / EDUCATIONAL /SOCIETY/ Institution IN other trust including non trading orgn. pl. enlighten me to disclose whether all details of interest to be included in MBP-1 ? (including other than companies)

s.sridharan.cs M :9442679110

My client has received compensation on non agriculture land on compulsory acquirement. And Tds has been deducted on compensation amount u/s 194LA. Is the compensation income exempt?? And if it is exempt than where do i show this amount in ITR and how do i claim refund?? Please very urgent

I have a query regarding salary to be paid on monthly basis to working partner(2) in a partnership firm. Example : Firm with 2 partners and capital of Rs.50000/-. How to calculate monthly salary for both working partners with some examples of Profit or Loss.

can anybody calculate the gst tax with cess applicable on branded unmanufactured tobacco. existing Excise is 64% Additiknal Excise 8.3% Gst 28% Cess 71% say for Rs.100/- I'll be very grateful of the Person for solving this for me. Thank You.

Dear Friends,

Is TDS U/S 194H deducted on the amounts paid by Individual or HUF for their personal purpose. For example brokerage paid by an individual for purchase of Flat for own purpose, who has a proprietory business and comes under the ambit of Section 44AB. Will he be liable to deduct TDS U/s 194H on brokerage paid to a dalal for purchase of flat for his own purpose. Please help to clear the doubt

Dear Sir's and Friends,

In section 194C one is supposed to deduct TDS on income comprised therein, one of our freight forwarders have submitted a single bill containing Service charge and reimbursement of their expenses, reimbursement expenses are shown seperately, my question over here is am i supposed to ask him for bills or challans for the expenses reimbursed, what if he does not give me proof of these reimbursements, will i be supposed to deduct TDS on service charge + reimbursement or will TDS be deducted only on the income component, Please help and suggest.

Dear Experts. Kindly tell me what is GST Rate from receive CAB(Taxi) service ..who is responsible to collect and deposit GST.. Service provider or services receiver..