Fixed Asset Depreciation charge on a fixed asset when it is put to use, and not when it is ready for use. Depreciation is a method of allocating the cost of a it over its useful life, and it begins when the asset is available for use in the business. The asset is considered to… Read More »
GST in final accounts GST in final accounts, In the final accounts of a business, GST (Goods and Services Tax) is treat as follows: 1.Sales: The GST collected on sales is not consider as revenue, but rather a liability to be paid to the government. The total sales value should be record separately from… Read More »
TDS entry in accountancy To make a TDS (Tax Deducted at Source) entry in accountancy, you would typically follow these steps: Create a ledger account for TDS under the head of duties and taxes. Enter the transaction in the journal voucher with the appropriate debit and credit accounts. To Visit: https://www.incometax.gov.in For example, if the… Read More »