Question

Laxmikant Hosahalli's image
Laxmikant Hosahalli
July 11, 2017, 12:37 a.m.
What is  ITC in this table?
Answer
sudiptab009's image
sudiptab009
July 11, 2017, 12:36 a.m.

Hi...

I have a query regarding Depreciation...
As per my knowledge depreciation is a one time entry which is passed at the year end..

Eg;- 31/3/17.  Dep for P&M A/c....Dr.    50,000
                             To prov for dep for P&M A/c.   50,000
                       (Say, 5,00,000@10%)
and so on....

Now tell me...is it ever possible to pass the above mentioned entries every month (i.e on monthly basis) on any kind of provisional basis..!!??

Eg;- 30/4/16.       Dep for P&M a/c....Dr.    2,000
                                      To PFD for P&M A/c.  2,000

          31/5/16.     Dep for P&M a/c....Dr. 2,000
                                      To PFD for P&M a/c.  2,000
               (this amount of 2,000 is on provisional basis)

And so on....

Then at year end a reverse entry is passed to adjust the excess or short of dep, as the case may be.. and a final entry is passed with actual amount of Dep.

Would like to confirm whether such type of practice is even acceptable in practical world...??

Hope i got my query understandable..

Thanks in advance..



Answer
Accounts Tax GST
sudiptab009's image
sudiptab009
July 11, 2017, 12:32 a.m.
Hi...

I have a query regarding Depreciation...
As per my knowledge depreciation is a one time entry which is passed at the year end..

Eg;- 31/3/17.  Dep for P&M A/c....Dr.    50,000
                             To prov for dep for P&M A/c.   50,000
                       (Say, 5,00,000@10%)
and so on....

Now tell me...is it ever possible to pass the above mentioned entries every month (i.e on monthly basis) on any kind of provisional basis..!!??

Eg;- 30/4/16.       Dep for P&M a/c....Dr.    2,000
                                      To PFD for P&M A/c.  2,000

          31/5/16.     Dep for P&M a/c....Dr. 2,000
                                      To PFD for P&M a/c.  2,000
               (this amount of 2,000 is on provisional basis)

And so on....

Then at year end a reverse entry is passed to adjust the excess or short of dep, as the case may be.. and a final entry is passed with actual amount of Dep.

Would like to confirm whether such type of practice is even acceptable in practical world...??

Hope i got my query understandable..

Thanks in advance..
Answer
9C Cehs's image
9C Cehs
July 11, 2017, 12:12 a.m.

Find the centroid of the triangle whose vertices are (x1, y1), (x2, y2)

 and (x3, y3).

Answer
Soaib Aktar's image
Soaib Aktar
July 10, 2017, 10:27 p.m.
How anti matter is made? 
Answer
Mahabir Traders, Balasore's image
Mahabir Traders, Balasore
July 10, 2017, 9:50 p.m.
Sir I have some problem with GST registration. My firm was a proprietorship firm and subsequently it has been converted to a partnership firm. But in vat resigm I did not change the registration certificate of vat from properties to partnership. Now as the GST is Pan based what shall I do. Now I have registered a newly GST registration in in partnership firm. How I will get input credit of the old stock lying in proprietorship firm. If possible please give me a consultation in my phone number 9437 064 348. I am ready to pay for the consultation fees.
Answer
srireddy balaji's image
srireddy balaji
July 10, 2017, 9:35 p.m.
How much is tally paid vertigo? 


Answer
Irshad Wani's image
Irshad Wani
July 10, 2017, 9:16 p.m.

Had saved some theorems of similar triangles of class 10th for off line viewing. Couldn't find them off line

Answer
ganesh tandale's image
ganesh tandale
July 10, 2017, 8:04 p.m.
Mr A has purchased a house with rs. 80,00,000/-. The property is co owned with his wife. Mr A wants to pay 45,00,000 and his wife wants to pay 35,00,000 to seller.
Now who is liable to deduct tds @1% u/s 194IA  
Mr A or wife?
Answer
teja powerances's image
teja powerances
July 10, 2017, 5:52 p.m.

WHAT  IS  HSN CODE AND SAC CODE IN GST 

Answer
teja powerances's image
teja powerances
July 10, 2017, 5:51 p.m.

HSN CODE AND SAC CODE

Answer
Anchal Verma's image
Anchal Verma
July 10, 2017, 5:50 p.m.
Where will the income of NRI be assessed ? In India or outside India ? 
Answer
patel sagar's image
patel sagar
July 10, 2017, 5:46 p.m.

How to  reply income tax's any notice ?

 

Answer
Skumar Skumar's image
Skumar Skumar
July 10, 2017, 5:16 p.m.
What's the taxable for road transportation
Answer
Accounts Tax GST
Sandeep Saxena's image
Sandeep Saxena
July 10, 2017, 4:38 p.m.
Mera medical store hai turn over 10 - 15 lakh hai Kya mujhe gst registration karana chahiye


Answer
Vijay Anand's image
Vijay Anand
July 10, 2017, 4:17 p.m.

HSN CODE FOR SPARE PARTS FOR AGRICULTURE TRACTORS EXCEEDING 2000CC

Answer
Uday Sankar Maitra's image
Uday Sankar Maitra
July 10, 2017, 4:05 p.m.

Can you please clear the following :

1. Tax Invoice nos and Bill of Supply nos are to be separate from each other ?

2. Can Issue 'Reimbursement' bill under Bill of Supply. 

Answer
Uday Sankar Maitra's image
Uday Sankar Maitra
July 10, 2017, 4:04 p.m.

Can you please clear the following :

1. Tax Invoice nos and Bill of Supply nos are to be separate from each other ?

2. Can Issue 'Reimbursement' bill under Bill of issue. 

Answer
varun kesharwani's image
varun kesharwani
July 10, 2017, 4 p.m.

by taking 8 times 8 what we can do add sub divide multiply but we should get the answer 1000 ?

Answer