Answer Posted / souravaich

Contingent Liability is a liability which may or may not
occur, but it should be shown in the Notes to Accounts.
for example : if the government policy regarding taxation is
pending, the trader is not in a position to decide the exact
amount of tax. In this case the trader will decide the total
liability of tax after the decision is finalised.
another example : Guarantees extended are Contingent Liabilitys.

Is TDS applicable to Voice Over IP(VOIP) service to an India VOIP service provider? please provide the related acts and case studies.

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Received an order from Babu for the supply of goods Rs.200/-. state whether the the following transcation is business transcation or non business transcation? with reson or explaination?

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Under the accrual basis of accounting incomes are recognised at the time -------------------

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Sir,I want to be good in accounting .Now i have got an oppurtunity to work in accounts department but i am average in accounts.So how can i improve and work with effiency guide me with ur tips.

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How Are The Balance Sheet And Income Statement Connected?

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what are the aspects an auditor has to see when he/she is doing the Purchase,Sales and Journal Vouching

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What is the relationship between, issued share capital, share premium and paid up capital?

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differences between liabilities and assessts

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How you implemented a chargeback system?

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why should we are preparing BRS

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Which document should be attached with purchse & sales invoice?

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what do u mean by single error and double error in accointing errors?

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WHAT IS LIMITED REVIEW? WHY IT IS REQUIRE?

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When we are raised a interstate invoice then which type invoice we are raised

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