GST amendment w.e.f. 1st January 2022
We would like to inform you that CBIC has notified the specific provisions to be effective from 1st January 2022.
We have summarized a few of them below.
1. Blocking of GSTR-1 for non-filing of...
JOURNAL ENTRY
ABC Ltd received a legal advice from Thakur & Co. (Advocate
Firm) and legal fees of Rs.100000/- is paid to a Thakur & Co.
Please pass the necessary
Journal Entry in the books of ABC Ltd.
1st
Journal Entry
Legal...
Basic Information about Companies
COMPANIES
SECTION 2(20)
As per Section 2(20) of Companies Act, 2013 A company means a company incorporated under this act and any previous Company law.
Features of company
T – Transferability of shares
O – Ownership is different from...
Basics of Accounting
Accounting
•Accounting is the process of identifying, measuring, and communicating economic information to permit informed judgments and decisions. Put more simply, accounting is the “language of business.”
•“Accounting is the art of recording, classifying and...
JOURNAL ENTRY
Professional fees of Rs.100000/- is paid to a consultant Thakur & Co. Please pass the necessary Journal Entry for both situation.
Situation A: If Thakur & Co. having not GST registration
Situation B: If Thakur &...
Double-Entry System
What is the Double-Entry System?
The double-entry system of accounting or bookkeeping means that for every business transaction, amounts must be recorded in a minimum of two accounts. The double-entry system also requires that for all transactions, the amounts...
Happy Holi!! ❤️🧡💛💚💜
On the auspicious day of Holi, May the Almighty bless us all with good health, wealth, peace, joy, happiness and above all, togetherness.
A very Happy Holi to everyone.🔴🟢
Merry Christmas and Happy New Year
Warmest wishes from www.overallaccounting.com for a wonderful Christmas and a lovely new year that is full of great #health, #happiness and #success in all your #future endeavors.
KEY WORDS OF ACCOUNTING
1. Business
Any legal action that is done in order to earn income or profit is called business. It includes the production of goods and services, purchase and sale of goods and services, banking, insurance,...
Advance PF Claim For Outbreak of Pandemic (COVID-19)
A
Eligibility to file online claim for the purpose “Outbreak of pandemic
(COVID-19)”
UAN should be
activated.Verified Aadhar should be linked with UANBank Account with IFSC code should be seeded
with UAN
B Eligible Amount
Upto
75% of PF balance (Employee share...
