Urgent.... tally
This query is : Resolved
04 December 2012
regarding trade discount(discount received) in tally:
as trade discount should not be recorded in books ,creating a ledger under indirect income is right or not
in bill discount was deducted as a total but not per product
bill-71310
-discount33310
+packing 2000
=payment 40000
as trade discount should not be recorded in books ,creating a ledger under indirect income is right or not
in bill discount was deducted as a total but not per product
bill-71310
-discount33310
+packing 2000
=payment 40000
04 December 2012
As the trade discount amount of Rs. 33310/- is substantial, it is better to create ledger account under indirect income group in Tally.
04 December 2012
recording TRADE discount as indirect incomes ?? even it is substantial is that correct
can trade discount be recorded in books
is there any other way in tally regarding trade discount
can trade discount be recorded in books
is there any other way in tally regarding trade discount
04 December 2012
Other treatment:
If it is one time transaction, you can account the net amount say Rs.40000/- for the entire product(ignoring trade discount).
However, if these are regular in nature or multi-transactions, then u need to show separately under indirect income.
If it is one time transaction, you can account the net amount say Rs.40000/- for the entire product(ignoring trade discount).
However, if these are regular in nature or multi-transactions, then u need to show separately under indirect income.
04 December 2012
it is not one product it is a collection of various products with its costs...
04 December 2012
If you are purchasing regularly and trade discounts are given whether on single product or various products , it is better to show or disclose separately.
Further, such transactions may be decided for accounting on gross or net basis as per the company policies.
Further, such transactions may be decided for accounting on gross or net basis as per the company policies.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
