Dear sir,

Pls clear the concept : Actually : I have to pass provision Account for " Interest paid on late payment of Tds towards month of March 2024 is Paid in 27th July 2024 . Could i take provision of

Interest on late payment of Tds A/c "dr" ,
To Interest payable on late payment of Tds A/c " cr"

on 31st march 2024 or Not .
=> Tds of March 2024 payment date is 30th April 2024, But tax paid on 27 th July 2024

(How may months would be consider for calculation for f.y 2023-24 or fully expenses would be consider in f.y 2024-25 ?)

is it mandatory to keep invoices for all the expenses incurred in business and should i pass journal entry before payment for every expense regardless of amount?

how to make entry of interest from savings a/c in pl&b/s

Sir,
While calculating of cost of flat for fixing the %age of ownership among the parties, can we add : interest on loan taken for payment to builders
Bribe given for approval of loan
Bribe given for getting the flat register
as adding these expenses, the %age of one partner increases and others reduces. Previously there was no agreement between parties on %age issues.

Dear Sir

Based on sale turnover in order to encouraging our hotel staff we are paying monthly incentives approximately Rs 5000/.
Any statutory such as PF ans ESI attracted for this amount. We are paying Income tax for this .
Kindly clarify.

How can I differentiate between a fixed asset and an expense? What factors should be considered for categorization? If I purchase something under Rs. 10,000 and it has a durability of more than one year, should it be considered a fixed asset?

Auto Dealership Car Vehicle Closing Stock Valuation : Is it right to Reduce Incentives like MAC , DRF to reduce from Year End Closing Stock ? Please guide as per IndAS
unsold stock ,to come at correct valuation ,is it appropriate to reduce MAC [Wholesale Incentive] & DRF from Closing Stock?

Auto Dealership Car Vehicle Closing Stock Valuation : Is it right to Reduce Incentives like MAC , DRF to reduce from Year End Closing Stock ? Please guide as per IndAS.Thanks

How to record gift voucher given when sale exceed certain amount
1.if the voucher is claimed by us
2.if the voucher is claimed to someother company for the voucher of them

Income tax is a indirect expense or current liability.