sir
is there any business law or bank condition that a small shopkeeper (proprietor) or professional must have bank current account instead of savings account for business /professional payments through cheques?

please clarify in detail that when and why current account is needed ?

DURING OUR SERVICE TAX AUDIT AUDITOR POINT OUT SOME SERVICE TAX NEEDS TO BE PAID UNDER REVERSE CHARGES BUT AS WE HAVE NOT PAID THIS SERVICE TAX DURING THOSE YEARS (FROM 2006-2014) WE HAVE PAID THE SAME DURING 15-16 ALONG WITH INTEREST, NOW I WANT TO KNOW THE ACCOUNTING TREATMENT OF SERVICE TAX & INTEREST PAID FOR YEAR 2006-MARCH 2014.

PL REPLY

Hi,

I want to know the accounting treatment for the following issue:


A manufacturer (company) has outsourced work to a job worker. The job worker has purchased a machinery and shown in the books as a fixed asset and claims depreciation. The manufacturer reimburses the cost of the machinery incurred by the job worker in Equal Monthly Installments. Further the manufacturer doesn't want this amount to be shown as a loan installment. Now should the EMIs be reducing the value of the fixed asset in the books of the job worker? But then at some point the value of the Fixed Asset will turn negative, since the asset is being depreciated. What should be the Accounting treatment for this?

Thanks

What is Core Account?
give the detail information regarding this

I have trial balance in excel exported from tally erp 9 version, now would like to make balance sheet. Please let me know the process in detail.

Can company can adopt different method of depriciation for diffrent block of assets i.e for computer, Furniture etc

if a minor child receiving fixed deposit income which is to be clubbed with her father's income,then how we will pass the journal entry in the books of her father ??

I recently saw a problem in Tulsian's book. Where the debentures can be redeemed in cash or equity shares of Rs 10. Total 9% debentures = Rs 250000 The result is given as: Debentureholders ac 257500 Dr. To cash ac Rs 107500 To Equity share capital Rs 30000 To securities premium Rs 120000 My question is, how can it be redeemed against securities premium ac?

We have purchased a Fixed Asset on FY 2013-14 for Rs.22000/- ( Laptop ).

In that year it is used for 233 days and depreciation is charged @ 40% for Rs.5618/-.

Now the opening Balance as on 01.04.2014 is Rs. 16382/-

So now as per companies act 2013 what is the correct amount of depreciation to be charges for financial year 2014-15.

What is Deferred Tax ?

Please help...