If I sale old fixed assets then what will be its entry passed.
In loss as well as in Profit condition. Plz. advised me with
example.
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if loss on sale
cash/ Bank a/c Dr.
P&L a/c ( if loss) Dr.
fixed assets Cr.
If loss on sale
cash / Bank a/c Dr.
P & L a/c ( profit) Cr.
Fixed assets Cr.
Is This Answer Correct ? | 5 Yes | 0 No |
Answer / sarat kumar kar
DABIT THE FIXED ASSTETS AND CREDITED THE SUM RECEIVRD AGAINST SELL OF OLD FIXED ASSETS
Is This Answer Correct ? | 2 Yes | 3 No |
I have issued an invoice to a client in which i have charged service tax but I have not received any amount against that invoice. In this case when is service tax payable.
I run a small consultancy firm (partnership with my mother) from my residence address. My firm is not registered, but I do have a separate PAN for it. I do not have any salaried employees. I get work done by freelancers and vendors and pay them against invoice. My annual revenues are just about Rs 5-6 lakhs. I am aware that I would need to register for service tax once I touch Rs 9 lakhs. But I am confused about my obligation to get a TAN and deduct TDS for all vendor/freelancer payments. Are there any minimum thresholds for withholding TDS? Right now I pay 100% of invoice amounts. Please advise.
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What is diff between Sales Tax
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