Hi experts

ABC Ltd. raised an invoice for Rs. 10,000/- on XYZ (firm-Franchisee of ABC Ltd) and XYZ need not to pay this amount to ABC Ltd as per policy.
Further, XYZ firm is also providing free services for the same amount to its customer ie: Rs. 10,000/-

What accounting entries should be passed in the books of XYZ firm.

Pl. explain the same with reasons to clear my doubts

Thanks

Hello, I am a CA Final year student, second group remaining since 3 years. Age 28. I want to change my field to Marketing. coz unless I clear the group I have no value. and it seems that I can not clear the group. even I m unable to get any good job also. what should I do, plz suggest, totally frustrated.

Dear all,
I am employee, currently no any own house property. Monthly saving in salary account about Rs 20K – 25K today balance in my saving accounts 5.3 lacs. We are planning to buy house in near future. What is the best option to deposit 5.3 lacs to earn more interest as well as secure.

I have received a notice from department stating that there is defect in the ITR filed for AY16-17.  Assessee has filed ITR-4 being a tuition teacher. She does not maintain regular books of accounts, so presumed income is considered.  In the return filed, I have shown gross profit and net profit, where regular books of accounts does not maintained by the assessee, but nothing is shown in balance sheet pt no 6 i.e no account case section, where columns are: sundry debtors, sundry creditors and cash balance amount  the defect in the notice is taxpayer having income under PGBP but has not filled B/S and P/L account as per sec 139(9)(f) r.w.s 44AA For last AY also, I have filed the return on similar lines but no objection came in that year. Please suggest what has to be done. Whether I need to agree with defect and file the rectified return, then what will be the rectification? or I need to disagree with the defect, then what reason has to be stated in the remarks column  Please reply....it's urgent  Thanks in advance.

Respected Sir,
One of the my client does not give his pan details to bank & bank deducted 20% TDS on FDR interest. Whether such TDS amount are claim when we are file our return which not shown in 26AS. or whether hard copy of such interest certificate is submitted for claim the TDS AMOUNT.

Dear Sir,
Whether the act of fishery is comes within the definition of agriculture income?
Please advise me.

We had paid commission of Rs.8000 to Mr. A during May 16 and deducted TDS u/s 194H @ 10%. Now once again we need to pay commission of Rs. 3000 to Mr. A ie same person in Dec 16. So do we need to deduct TDS @ 5% since he had earlier been liable for TDS u/s 194H. As after 1.6.16, the limit and rate both have changed so please clarify.

Dear Experts

Please help out in appointment of directors of the company as per companies Act, 2013.
The existing company is a private Limited Company, formed in the year 2014. As of now two more individuals are interested to act as directors of the company. There are to be directors and not additonal directors in terms of appointment.

My query is that what is procedure to appoint such directors? What type of resolutions are to be passed? What is the procedure of Filing the same to ROC?

Thank you in Advance.

hello, experts!

my question is

I bought an agriculture land suppose for rs 700000 but till next year I pay only rs 500000.
than what will be value of such land in the balance sheet?

Small business not under audit. Not having TIN number also purchases are fully exempted can avail purchase as their expence in Profit and Loss Account