Cheques issued on 28th march but not cleared till 31st March.
How to pass journal entry for cheques in Transit in books of accounts.

is correct way to find out capital of individual on 31st march
sales A/c Dr
Income A/c Dr
profit from firm A/c Dr

To purchase A/c
To Expenses A/c
To Drawing A/c
To Loss A/c
To TDS/TCS/Advance Tax paid
and Difference amount to be treated as capital.

and 2nd Entry on 31st march profit or loss to be passed
in the case of profit
Profit and Loss A/c Dr
To Capital A/c
in the case of loss
Capital A/C Dr
To Profit and Loss A/c

capital equal to which assets of balance assets.

IF WE ARE GIVING SERVICE OF ROYALTY THEN UNDER WHICH ACCOUNTING CODE THE PAYMENT OF SERVICE TAX IS NEED TO BE MADE FOR YEAR 14-15 ACCORDING TO DEMAND RAISED BY DEPARTMENT.?

i own a flat in mumbai - my building is going for redevolpment soon
pls guide how will my accounts be updated with all the rent recd/corpus/shifting
charges /extra area be accounted
pls also guide if the amounts received will be treated as income or not
what happens to cost of my flat which is shown in my balance sheet
thanks PLS GUIDE
THANKS

Hello CCI members,
I have one query for IT refund for AY 22-23.

Case Individual
Source of Income- Salary
For AY 22-23 I have filed ITR and received a demand notice of Rs.14000 but by mistake challan was deposited under SAT 300 instead of 400.
But department adjusted it against our refund in AY 23-24. I filed rectification request for correction of challan and it is now reflecting under 400.
Now how can I claim my refund against this challan.

Please suggest.

Thanks

Respected Members,

Following are my queries -

1) I want to surrender my Certificate of Practice. Kindly guide me about the forms, process, etc.
2) Is it required to delete ARCA account in Income Tax e-filing website ? If so, how to delete it ?
3) I have already obtained FCA. Will I be allowed to use FCA title afterwards as well ?

Request to answer asap.

Thanks in advance.

I am applying for cancellation of GST registration there is a balance in credit ledger of Rs 12,000 CGST & 2600 SGST. There is no stock remaining now. What should I do with the remaining ITC. If I need to be reversed, Where it should be reported, since I am not getting any particular tab for it either in application for cancellation or in GSTR10? Shall I report it in GSTR 3B 4B table?

sir,
one of my friend has only income from business and he has loan from single house property.
let's me know whether he can set deduction this tax amount from business income to interest from house property and this principal loan amount.
with regards
Binu

One event management company taken services from registered dealer for use in exhibition business, can company take ITC on availed services?