My Client Needs Projected Financial Statements for 3 years. Because he applied for Bank OD facility of Rs.1 crore. Here I disclose the Bank OD of Rs.1 crore as Current liabilities under liability side of balance sheet.
My query is how to tally the 1 crore against the asset side?

Dear sir,
The interest earned on Kisan Vikas Patra, if not included on accrual basis year wise in the ITRs every year, be shown as lumpsum in the year of maturity? How to deal with such incomes? Pleas clarify.
Regards.
K. Chandrasekhar

Hello. I'm supposed to give my final exams in the Nov 2020 attempt but due to country wide lockdown and shortage of time I won't be able to complete coaching for all papers and even after that i won't have sufficient time for self study. Moreover I'm preparing for both groups. Hence I wanted to know whether there will be a lot of changes in both the tax papers if I go for the may 2021 attempt? And will the Direct tax code be applicable then?

A Company was incorporated in July 2019 but the Bank account was opened and share money was deposited in April 2020. Whether INC 20A can be filed. What are the consequences?

Since the appointment of CS is non viable, we have reduced the share capital below 10 Crores. But we could not file PAS 3 for reduction of capital since our company is active non compliant status. Asper our books of accounts the share capital is less than Rs. 10 crores but MCA it is more than 10 crores and hence the site will not allow to file PAS 3. How to proceed further.

On making PO with 50% advance payment for importing the goods . The goods reaching after 3 months in port with BOE and kept in warehouse (SEZ). Taking goods from warehouse by paying customs duty based on BOE from warehouse. When to make purchase entry and what rate because of two BOE. How the party balance for the goods kept in warehouse to be accounted. whether goods in warehouse can be added in stock?

We closed vehicle loan through payment of all EMIs but in books shown pending balance , how to adjust and tell me the closure account proceedings in Books of accounts.

Thanking You...

Free of cost hospitality Service given to statutory Auditor by Hotel (Client), Tax effect under GST? Whether same would form part of consideration for Auditor?

Free of cost hospitality Service given to statutory Auditor by Hotel (Client), Tax effect under income tax?

Dear Sir
One of my client want to formation an employees union for all rajasthan Private school teachers for protection of rights.
What is the procedure and other related information ?
Please Suggest.
thanks
ramdev jyani