In Cost sheet of a product, how various taxes like a sales tax, vat ,are treated ? if excluded why ?  

What are the risk of Prior Period Expenses recorded in current year to the business

Dear All one of our creditor balance was 49780/- as on 31/3/2015 but due to mistake the creditor balance 34780/- is being reflect in books as on 31/3/2015, however return for AY 205-16 has already been filed. pls let me know how to correct the creditor balance now, Regard Manish

Sir, I want to know that if company give facility to Software Developer or any consultant of Travel or other expenses except consultancy fees then it would be liable in reimbursement exp. or what ? in which head of consultant or ?

A director of a pvt. ltd. compay having salary remuneration of rs. 4 Lakh which is paid at the end of the year. Director also disclosed a rs. 1.70 Lacs deduction under section 80C out of which 1.50 lakh is deducted from the salary i.e. 4-1.5 =2.5 lakh. Now the Company not deducted on salary of director. whether it is Correct? kindly reply urgently.

is cpts account is hard

what is the treatment of "reserves for doubtful debts" .

Dear sir,

please help me for following querries:

1) I have one Non IATA Travel Agent(Say X) he is buying Air tickets from Go-Air or from some other IATA and non IATA agents(Say Y ) the bill consist of detail as under eg.
Ticket Amount Rs.50,000
Less: Handling Chg. Rs. 2,500
Add: Service Tax Rs.5,150
Add: TDS on H.Chg. Rs. 283
---------
Net Due Rs.52,933/-

For This X paid the amount by Ch. To Y Rs.52933/-

Now X issue this ticket to (Say Z ) and charged Rs.55,150/- which he gets from Z by way of Ch.for Rs.55,150/-

Now what will be the accounting entry in books ( Whether this will be sale and purchase of ticket or commission income suggest me ) is there any procedure for travel agents to book entries.

2) what will be the amount of turover for the purpose of TAX Audit,
Commission Amount or Sale Amount


3)Is Travel agent is cover under the Provison of U/s 44AF for for payment of income tax if its turnover is not exceeding for Tax Audit under Income Tax ??

Expecting reply at earliest.

Dear Experts, In a private Company there is conflicts between two directors, so one of the director has given Rs. 7 Crore to another Director for Takeover of Business. So I want to Know the Accounting treatment as well as Journal Entry of the transaction. Second doubt is, to pay this Rs 7 crore Purchasing Director has taken loan from Bank on his name by Mortgaging his personal house. Now on 01/04/2015 he transferred the loan on the name of Company, what will be the journal entry for that & accounting treatment of Interest, whether it is to be capitalised or charged to Revenue? Please help me out .

I am 1st Gen entrepreneur and started a private limited company, taken some money for supply of equipment from a partnership firm last academic year, I have not registered for vat nor service tax till date, goods are delivered but invoices are pending from our side, can you help me out. I bought all the equipment from third party and delivered, I have my invoices of purchase, but I didn't file any input vat sort of things as I had not taken vat nor service tax . My sincere thanks in advance if you can clear how to prepare invoices now.