Daya
26 February 2022 at 18:04

Income received in Advance

How to make journal entry of Income Received in advance,
rent received in advance for 2 months.


Daya
26 February 2022 at 17:27

Use of M/s

why use of M/s
before Partnership Firm name
Company Name but not before Proprietorship Firm.


Kollipara Sundaraiah
26 February 2022 at 17:25

Two incomes for it doubt

Sir,
1.1st professional income Gross receipts rs:60 lacs
2nd professional income Gross receipts rs:2 crores.
Question:
1.assessee two incomes it returns filed individual status present.
2.assessee 2nd profession formation of partner ship firm or individual status benefit for it purpose.


Daya
26 February 2022 at 16:15

In proprietorship firm

in proprietorship firm
why Salary of proprietorship firm is not allowed.
is Depreciation allowed as per income tax only.


Daya
26 February 2022 at 15:52

Distribution of profit among partners

Profit that is to be shared between partners is the profit before income tax or profit after income tax


Daya

Any loss in partnership firm will be distributed to partner's capital account just like a profit . is it true.


Daya
26 February 2022 at 12:41

Provision made for partnership firm

what is provision made for partnership firm among partners to Distribute among partners in profit sharing ratio please reply.


Daya
26 February 2022 at 12:14

Loss how to distribute among partners

Loss of partnership firm how to distribute among partners, if there are profit sharing ratio is A-50%, B-40% and C-10% and Total loss Rs, 10,00,000
can i pass journal entry , and whether is true or false, please reply
A Capital Account Dr Rs. 5,00,000
B Capital Account Dr Rs. 4,00,000
C Capital Account Dr. Rs. 1,00,000


professional

My query is the following:-

whether the long term capital gain against property can be adjusted against the short term capital loss and long term capital loss on selling of equity shares under DEMAT account. All transactions by online banking. Will appreciate your advice and inputs on this query.


Daya
26 February 2022 at 11:36

What is Drawback or Benfit

in some companies i have seen that
there only three ledgers open for
CGST
SGST and
IGST
For purchase and sale
But in some companies , i have seen that
CGST Input, CGST Output
SGST Input, SGST Output
IGST Input ,SGST Output
for Purchase CGST input , SGST Input and IGST Input
For sale CGST Output , CGST Output and IGST Output is open
which is better and why for maintaining books of Accounts.