GST Accounting Entries – A Simple Guide for You! If you’re running a business, keeping your GST accounts in order is crucial. Every time you buy or sell goods or services, you need to record the GST transactions properly. This ensures you claim Input Tax Credit (ITC) correctly and pay the right tax to the … Read more
Depreciation chart as per Income Tax Act: A Comprehensive Guide Depreciation is a key element in calculating taxable income under the Income Tax Act, 1961. It refers to the decline in the value of an asset due to wear and tear, usage, or obsolescence over time. The Income Tax Act allows businesses to claim depreciation … Read more
A Comprehensive Guide to Books of Accounts to be Maintained under GST Maintenance of books of account and related records is an important compliance requirement under the GST regime. India’s Goods and Services Tax (GST) regime has streamlined the tax structure, making it more efficient and transparent. However, with this new structure comes the responsibility … Read more
Bizindigo: Transforming Accounting Services for Hospitals In the fast-paced world of healthcare, hospitals face unique financial challenges that demand specialized accounting solutions. Bizindigo, a premier accounting service provider, offers tailored accounting services that cater to the complex needs of hospitals. Here’s how Bizindigo stands out in the healthcare accounting landscape: 1. Specialized Knowledge Bizindigo’s team … Read more
BizindigoSkills: The Premier Tally Practical Training Institute in Delhi NCR In the competitive landscape of accounting and finance, proficiency in essential software like Tally can set you apart from the crowd. TallyPrime is a powerful tool that simplifies financial management, inventory control, and taxation for businesses of all sizes. If you’re in Delhi NCR and … Read more
Mastering Tally: Top Tally Training Institute in Ghaziabad Bizindigo Skills is the Top Tally Training Institute in Ghaziabad Delhi NCR. Ghaziabad, a vibrant city filled with endless possibilities and ambitious dreams, recognizes the importance of mastering accounting software as a key to achieving success in the competitive world of commerce. Among the numerous Tally training … Read more
Journal entries for Rent expense As per the Indian GAAP (Generally Accepted Accounting Principle), here’s how you can record accounting entries for Rent expense with accrual and subsequent payment: Accrual entry for rent expense (when Rent is Incurred) When recognizing rent expenses before payment: Account Debit (Rs.) Credit (Rs.) Rent Expense A/c 10,000 To Rent … Read more