Dera sir/madam
if partnership firm is having loss of 75000 in f. y 18-19 and there are three partners and want to take benifit in income tax in f. y. 2019-20 what are the entry to be done in accounting software

tant house ka business code kya hoga

following expenses are incurred before commercial production
1) Technical consulting & training for machine
2) Pre-Operative salary
3) Legal fees
4) Training
5) Trial Run
6) Consumable & Material CWIP for trial run
All above is showing under capital work in progress

Tell Us what is treatment of above for capitaliation after commercial production start

and if amortise then in how may years along with entry
please guide

Dear Experts,
If the current price of a brand new 850 sq. ft. apartment in a gated society is a 100 bucks ,
then what would the approximate current price of the same apartment be,
in real terms after calculating depreciation,
if it were to be 25 years old?
Kaushik.

AS PER RBI CIRCULAR 6 AUG 20

"No bank shall open current accounts for customers who have availed credit facilities in the form of cash credit (CC)/ overdraft (OD) from the banking system and all transactions shall be routed through the CC/OD account"

We have CC Account and Current Account in Multiple Banks.

We have receive notice from our one of the bank of close current account where we have CC Facility also.

Whether we can insist our Bank not to close Current Account where our CC Facility is also there.

Dear sir,
I need a sample letter for transfer on the ground of principal giving up his COP.
Please help me and will i get transfer easily or ICAI can restrict my transfer in any case?

Company A has to pay 1cr to B for their services..
A fails to pay his dues in same financial year.. and B comes to loss in thatt year due to non release of payment.
Now after few months A pays all his dues after deducting tds(@10%).. and files tds return showing transaction date 31st March..
So B is in loss for that year but but have 10lacs as tds in his 26as...

Now to do in such situations?

My cousin filed composite GST till Mar 2019 for annual turnover around 13 lac. Since then he have not file GST return after hearing news that No GST required for turnover below 40 lac. Now when checked his GST account, its seen that 12 GST invoices in his firm name for FY 2019-20 (amount around 8 lac) and one invoice (50 thousand) for FY 2020-21. What should he do now ?

Kindly suggest : Can be claim ITC on vehicle insurance

Hello sir,
I am currently n my articleship second year I want to take termination on parents medical ground. Am i allowed to do so and what are the requirements.