TDS already deducted by bank Rs 10/-
TDS a/c dr 10
Bank a/c 10
Total Int. Rs 100/-
Int receivable Rs 90/-
Please let me know what would be due entry of above mentioned case.

In a job advertisement I saw recently the advertiser had mentioned that the candidate should be good in - Balance Sheet reconciliation.



Can anyone please let me know what is Balance Sheet Reconciliation and how it is done?



Thanks.

Expert,
Whether Deferred tax Provision will be required in case where depreciation as per companies act is Rs.100000 and depreciation as per income tax act is NIL(as block is nil)?

Under which head

Unpaid Exp like Telephone Exp, Electricity Exp, Legal Fees, Prof Fees, Transportation Ex p etc. should be classified in revised schedule VI.

Whether it is classified under 'Trade Payable as Creditors for Expense' or under 'Other CUrrent Liabilities'

I have an FDR Rs.5,00,000/- as on 31.03.2011. On 14.06.2011 the FDR matured alongwith interest Rs. 534060/-. On 17.06.2011 reinvest the FD to Bank. The Bank issued me a Interest & TDS Certificate as on 31.03.2012. The interest comes to Rs.44316/- and TDS Rs. 3711/-.

Rate : 6.75%

FD Amount : 5,00,000/- & Maturity Value : 5,37,086/-

DOI : 20.05.2010- & DOM : 14.06.2011

I got on Maturity Rs. 5,34,060/- and Reinvest on 17.06.2011.Effective Rate of Interest Rs.8.75%.

Need EXPERTS advice for making entry in my books of Accounts.

We have received credit note for discount on monthly scheme after the purchases is made and the supplier has charged Vat on it. Now what is its accounting treatment? and Should we have to pay vat on it?

I have an FD amount of Rs. 5,00,000/-as on 31.03.2011.

Maturity Value of Rs.5,34,060/-.Matured Date is 14.06.2011.

I reinvest the whole amount that is 5,34,060/- on 14.06.2011.

As on 31.03.2012 I recieved Interest Certificate Rs.44316/- and TDS Rs.3711/-

Can anybody help me for what entry need to be done in my books.

Thanks in advance.

at the time of payment of security deposit of the contractor which was deducted previously and credited under Security Deposit Contractor Account is it mandatory to first transfer such Security deposit to the particular party account by debiting the Security Deposit and crediting the Party and then make payment entry by dr. party and cr. bank

The revised schedule - VI is applicable for november 2012. I want to know from where can i get the complete pack of reading material regarding it.

Please also let me know what exactly ICAI wants to know with respect to the same.

Thank u

Interest liability on TDS for the year 2010-11 is arises in the financial year 2011-12 and such interest payment is made in the same financial year. whether such expenses are booked under prior period expenses or under Interest on TDS... Please Reply as early as possible