is depreciation calculated according to scheduled II of companies act.

How to shown inventories (stock ) under current stock
Like , Raw Material, WIP, Finished Goods, packing material, loose tools and stores and spares.

DK Ltd. Purchased some machines as follows: 1. On 1/7/2009 Company purchased a Plant at cost Rs.85000 and freight incurred Rs. 5000 and erection charges Rs.10000. 2. On 1/4/2010 Company purchased another Plant at cost Rs. 150000. 3. On 1/10/2010 Company purchased another new plant at cost Rs. 20000 and freight incurred Rs.3000 and erection charges Rs.2000. 4. On 1/7/2011 other new Plant purchased at cost Rs. 70000 and erection charges Rs. 5000 incurred. Company follows SLM of dep. at 10% p.a. But 2011 beginning onward Company decided to change its method of dep.from SLM to WDV at 15%p.a with retrospective effect.In 2011 on April 1st. 1/4th of plant purchased on 1/7/09 sold away for Rs. 13150. Show Plant a/c up to Dec.31st., 2011.

Hi,
we are paying rent to a company (which the company is paying to other person and raising the invoice to claim that (GST charged in this bill) as the company is having the rent agreement in their name)

just wanted to check if the company is deducting the TDS on rent paid by them then we dont have to do the tds on rent which we are paying to them?

what is due date for itr5 for pvt discretionary trust which has no income, except exempt share of profit from partnership firm (firm has tax audit ).

my view -->as tax audit returns were due by 30th oct 2023, so partner also by 30. oct 2023.

strangely, i got late fee in my tax software of rs. 1000 when i filed on 30 oct 2023.

meanwhile, my tax software team also i am asking

Death of a partner in a partnership firm. Now new GST registration will have to be taken or there will be amendment in the same.

Hi

I am an OCI holder and my mother is resident indian. I plan to buy a residential property in Mumbai from a resident indian seller.

If I buy property in my name(non resident OCI holder) and my mother (Resident Indian)
AND
Make payment in ratio of 5% from my NRE account & 95% from my mother's resident account
AND
have agreement with ownership rights in ratio of 95% under my name & 5% under mother's name
AND
deduct 1% of TDS for seller

Will I be OK from Violation, Taxation and other hassles in future?

Appreciate you genuine inputs, help and support. Thank you

Regards
Puja Doshi

Sir,
New update heard about DRC01c in gst in relation with Gst monthly return. Let's me know the details.
With regards
Binu

An individual has applied for a Home loan from a Bank. He is a proprietorship in a firm. He has one existing car TL which is also showing in balance sheet of his prop firm. For computing deductions for the proposed home loan the deductions of EMI of existing car loan will be considered. But in Profit and loss account , only interest payment is there and principle payment is not there. So for deduction purpose whether principle portion of the loan needs to be deducted from the PAT of the firm.
Kindly guide sir.

1. Advance to supplier comes under loans and advance ? My answer is yes plz confirm
2. When we debit the entry in which golden rule we have say personal account debit the receiver or Real Account what comes in?