Personal: Debit the receiver 
           Credit the Giver

Real      : Debit what comes in 
          : Credit what goes out


Nominal   : Debit all expenses and losses
          : Credit all income and gains

Yes
In Assets Side:
Advance In-Come-Tax A/c Dr with TDS received Amount
and Party A/c Cr with TDS received Amount

Tds receipt will be shown in asset side. It can be adjusted 
from income tax payable.

Tds Receipts will be shown in assets side under loans & 
advances and it will be adjusted to Income Tax A/c.

questuion not clear at first

Assets Side:
Advance In-Come Tax Ledger in currect year

first let me know,how tds is shown in balanve sheet?

Depreciation means gradual and permanent decrease in the 
value of asset due wear and tear,technology changes and 
laps of time.
entering the transaction on both debit and credit side.

depreciation: an increase in the value of the asset is 
called depreciation
double entry: any transaction entering both debit side and 
credit side is caled doublr entry.
assets: current assets, fixed assets, liquid assets, 
intangible assets.
liabilitirs: current liabilities, fixed liabilities

Depreciation is the continuous decrease in the value of 
assets. 

Depreciation is debited and the assets on which it is 
charged is credited, e.g. 

Depreciation A/C   Dr.      Rs.xxxxx
     To, Machinery A/C                   Rs.xxxxx

In my 12 years of accounting experience I have never heard 
of charging depreciation on liability.

verfication books of accounts 

if traders annual tournover above 40 lac than tax audit is 
compalsury & in case of profession limit is 10 lac 

verfiy of your accouts book like sales book, purchase 
register, journal , cash book , bank book , stock legder

are books compalsury

Tax audit is a rquiremnent under income tax act if the 
gross receipts excess the specified limit.

In case of professional, gross recepts excess rs. 10 lacs
In case of others, gross receipts exceeds rs. 40Lacs

What is M stand for i don't sure but IBOR mean Inter 
Banking Offer Rate.

MIBOR stands for Mumbai Inter Bank Offer rate this is the 
rate which is followed in the Money market

MIBOR Stands for Mumbai inter bank offer rate .  MIBOR is 
equivalent to daily call rate.It is the overnight rate at 
which funds can be borrowed and changes everday
.bank lend and borrow money from each other

P&L is shown the earning status the block period, while the 
Balance sheet shown the position prescribed day.

P and  L a/c is prepared to know the exp and income of the 
particular yr.
where as B/s is prepared to know the financial condition or 
position of the company. 
B/s is follow up of p/l a/c.

As per Indian Income Tax laws, a capital gain tax is a 
voluntary tax payable on the sale of assets, investments, 
capital accumulation, and productivity. 

A Capital Gain can be defined as an any income generated by 
selling a capital investment. A capital investment can be 
anything from business stocks, paintings, and houses to 
family businesses and farmhouses. The 'gain' here, refers 
essentially to the difference between the price originally 
paid for the investment and money received upon selling it. 
A capital gain can be categorized under the following 
heads, depending on how long the investment has been under 
your possession: