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Answer Posted / amit kumar verma
service tax is service profoil
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For example for formation of a new company/offshore company you need to show paid up capital of 100K but you don't have 100K you as a director borrow loan of 100K from 3rd party and deposit in the bank as paid up capital and issued shares of 100K in director name. After one week you return back 3rd part loan. What are the entries in the books?
Is there any circumstance where an accountant is allowed to depart from accounting standards while preparing financial statements? If yes explain why, if no explain no.
we can transfer stock between two firms with same name but prop. is different.
Is it legal for an organization to keep two sets of accounting records; one for tax and one for book? Why or why not?
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What is book profit? How it was calculated
what is the primary of for-profit organisation
If the company acquires equipment prior to incorporation what are the accounting entries?
What is service tax & excise?
Do you have any idea about gst?
Describe me accounting rules
I renders interior Services, consider one project cost Rs.500000/- Scenario 1 - Material purchased on my Firm Name Material - 300000 -300000 On party behalf Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit Scenario 2 - Material purchased by client Labour - 200000 -150000 My expenses for Labour Contracts Profit - 50000 My Profit In both Profit is same Rs. 50000/-. which is beneficial for me in terms of turnover or tax matters. and if I have to raise a bill to party as per both scenario, how it will affect bill and tax, where will I suffer loss?
what is contribution? how does it help in taking managerial decisions?
how to pass entry in tally for Interest received on sweep credited to saving a/c? In what group it should be come
Do you know what is icai?
