Dinesh.V
16 December 2024 at 15:50

Tds deduction machinery installation

Can i Deduct tds u/s 194c on machinery Installation value 37,50,000/-


Daya
15 December 2024 at 18:06

Adjusted from Capital account

what will be the adjusted from Capital account, specially in the case of Company , LLP and proprietorship firm..


Jaswinder singh

Respected Colleagues,
Vehicle owned by father but used by son in his business and paid insurance charges by son his current account, now my first ques is whether son will claim insurance charges as expense in P&L and if Repair & Maintenance (petrol, diesel & wear tear) of vehicle also paid by son & claim as expense, then is it in order?


Lucifer Rodriguez
08 December 2024 at 15:05

Tally Accounting Entry

Tally Entry for the below transactions:

1) Industrial Oxygen Gas purchased for factory metal / iron / steel cutting comes under which group (Direct / Indirect) & which head ?
2) Lubricants purchased for factory machines / manufacturing machines comes under which group (Direct / Indirect) & which head ?


Sharry Singh
08 December 2024 at 02:18

Regarding PPF account guidance

Dear Financial Experts
Hope you're doing great. This is about my PFF account. Recently I found that my PPF account has been stopped due to pending KYC. I opened PPF around few years back when I was in India and then came in US. Then I was out of US for 2 years and then came back. I might plan moving back to India in 2-3 years which depends on my project extension.
(1) Does this means interest amount will not be deposited in my PFF account in 2025 since account is in stop status?
(2) Should I go to India to update KYC to change the account status?
(3) Recently I found that it's better to convert saving account in Bank A to NRO so I found a SB to NRO conversion form where I need to mention the date of status change from Resident Indian (RI) to Non Resident Indian(NRI). Is this date should be the first entry date to US OR 2nd entry date after 2 years?
(4) I have 2 other saving accounts lets call it Bank B & Bank C so do I need to convert all saving accounts to NRO or only Bank A is enough which has PPF account. Please note I don't have any income in any Indian bank account.

Kindly share your valuable advise and please add if there is anything else that might be helpful as well.

Thank you!


zeeldiv

If office has been shifted and old AC are also shifted, copper pipe purchased for reinstalling AC are to be capitalized?


Meghana Maggi
03 December 2024 at 18:35

Depreciation under SLM method

If a company purchases a battery and an inverter is it considered a fixed asset?
If yes then what is its useful life as per Companies act 2013?
And both battery and inverter liable to depreciation?


Daya

Cheques issued on 28th march but not cleared till 31st March.
How to pass journal entry for cheques in Transit in books of accounts.


Daya

is correct way to find out capital of individual on 31st march
sales A/c Dr
Income A/c Dr
profit from firm A/c Dr

To purchase A/c
To Expenses A/c
To Drawing A/c
To Loss A/c
To TDS/TCS/Advance Tax paid
and Difference amount to be treated as capital.

and 2nd Entry on 31st march profit or loss to be passed
in the case of profit
Profit and Loss A/c Dr
To Capital A/c
in the case of loss
Capital A/C Dr
To Profit and Loss A/c


Daya

capital equal to which assets of balance assets.






CCI Pro



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