I am a partner of a partnership firm. Can I take loan from my relative (other than father, mother, brother, sister & wife)?, then I invest in my partnership firm as a capital is it possible??? please advice me??
Please help me out in this regard.
How to enter an entry for receipts in the personal account of proprietor.
Do I need to credit the capital account in the books of the firm or I need to show as receipts in personal account in the books of the firm?
All the previous receipts from the sale of service is into the personal account of proprietor( Even last year the receipts were in the personal account and ITR is filed from the details of the personal account only). Current account in the name of the firm is opened recently. As the proprietor is the owner of the company and the entire receipts have to be taxed in the name of the proprietor only. can I show that personal account details as it is in the books as personal account of proprietor??
We are planning to convert the existing LLP into Private Limited Company.
In the existing LLP, for fixed assets we follow the rates of depreciation as per the Income Tax Act,1961 i.e., on WDV. Individual asset value is not available.
Now, if the LLP is converted into Pvt. Ltd. , we need to follow the methods available as per the companies act. How to arrive the value of individual asset for assessing the balance useful life in this case?
If anybody know the process, please help.
If i have a capital reserve and Share capital as the only liabilities in balance sheet and bank account as asset then how can I distribute it to shareholders if company is to wind up.
CA Vishal Mehta
What is Accumulated Depreciation ? When to calculate.
A customer's ledger shows credit balance, but by mistake our staff write-off that credit balance by discount received a/c . What to do to correct this ledger account?
There is a vehicle in company accounts which has actually been purchased for a director.Now the director has resigned and wants the car back. What would be the steps for removing the vehicle from the books of the company.
in tally while making purchase entry if i would to add (e.g. custom duty or freight payable to shipping line) cost payable to third party and not to give credit to supplier .. how to do that?
We installing lift when we doing installation done civil work there which are labour payments , welding works etc.. can we capitalize expenses >10K & <10K. civil and welding work to lift asset.
I SOLD GOODS TO PARTY ON TO PAY BASIS.
THEY RETURNED SOME AND SENT ME A DEBIT NOTE
AND NOW THEY ARE HOLDING ON THE FRIEGHT AMOUNT
AND I WAS ASKED TO MAKE A CREDIT NOTE FOR FRIEGHT
WHAT SHOULD BE THE ENTRY IN TALLY