We plan to purchase one Saloon Car costing Rs. 9,90,000 for my daughter. Funds are transferred from me, my wife and her brother to her account and she is transferring the same to Indus Motors.
She is employed. We all are filing tax returns.
Are there any tax implications?
What precautions, if any, do we have to take and are there any documents to prepare?
We are not taking any loans.
Kindly advise
what is nature of interest of cash credit and overdraft,
is revenue expenses or capital expenses.
whether interest on car loan treated as revenue expenses or capital expenses.
whether these entries are correct
For Making FDS
(1) FDs A/c Dr
To Bank Account
(2) on Accrued interest on FDs
FDs A/C Dr
TDS Receivable A/C Dr.
To Interest income on FDs
Accrued interest added in principal amount
and reeving on principal amount and interest
Bank A/C Dr
To FDs A/C.
whether interest on PPF accrued to be added year wise in principal amount until PPF is not received. and whether interest on PPF is taxable year-wise.
whether dividend payable on right issue and bonus share also
what will be the journal entry of dividend receivable.
what is meaning of
Interest accrued and Due
Interest accrued but not due
and what is accounting group for above mention the both term.
dear sir
iam an accountant of partner ship firm, recently we are purchased the i-pad for business purpose in reliance retail ltd .
how to make entry in tally . how to treated as fixed assets or purchase . how to claim input tax
pls clarify my reqest
thanks
What to do if TAX Audit done with incorrect balance sheet uploaded & also accepted by assessee.
Whether TAR need to be revised?
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Car Purchases in Daughter Name