2021 - CommerceAngadi.com

Deposit Interest Calculator

September 11, 2021January 31, 2022 Admin

Calculation of Interest on Fixed deposit is made easy with this Free Deposit Interest Calculator. You can use this for calculating the interest on multiple deposits for self-use. For making an Interest Accruals as on 31st March every year also, this calculator can be used. The file contains an example of sample calculations. The base of Deposit Interest Calculator : Normally in Banks, FD Interest / Interest on Fixed Deposit gets compounded on a quarterly basis (June, September, December, and March). The example is also given on the same principle.…

Write off | Write off debt

June 18, 2021 Admin

What is Write off? In simple, Write off is a process of reducing non-recoverable balance lying on the Asset Side of the Balance Sheet. The write-off in Accounting will happen by Debiting the Expense & Crediting underlying Assets, of which value is getting reduced. Write off Debt In Business / Profession, several transactions took place in regard to Purchase & Sales. Usually, the Sale of Goods or Supply of Service is on credit. All the Credit Sales are recorded as Receivable on the Asset side of the Balance Sheet. In…

What is Share | Share Trading | Futures and Options Trading

June 11, 2021February 1, 2022 Admin

What is Share A Share is an instrument in the form of a Share Certificate. A Share is a Share in the Share Capital of the Company. And a person holding a Share is a Member/Stake Holder of that Company. The Shares are traded in the Share Market, viz. BSE, NSE, NYSE, etc. Company issue shares initially in Initial Public Offer (IPO) as a public offer. It is also called a Primary Market. Sometimes company requires additional share capital issue shares again. Since this issue is not a 1st-time issue…

Income Tax Calculator for FY 2021-22 (AY 2022-23) – Free Excel Download

June 6, 2021February 1, 2022 Admin

The Income Tax Calculator FY 202-22 (AY 2020-21) is in Excel and is available Free for download. It calculates the tax on, Income from Salary Income from Pension Income from House Property Income from Other sources (Interest, Dividend, etc.) Click below to download the Free Income tax refund calculator FY 2021-22 in excel free. Income Tax Slab for FY 2021-22 for Tax computation in Income Tax Calculator briefed below. The new regime of taxation is introduced from FY 2020-21, which is optional to an Assessee. In Option / alternative…

Interest under Sec. 234A, 234B, 234C for FY 2020-21 of Income Tax Act – Excel Calculator

May 28, 2021January 9, 2022 Admin

Interest under Section 234A, 234B, 234C levis under Income-tax Act, 1961. For calculation of Interest under Sec. 234A, 234B, 234C for FY 2020-21 of the Income Tax Act – Excel Calculator from the link given below. The file is updated with sample data to understand the working of the File. Section 234A: Apply for the delay in furnishing the Income-tax return on or before the due date. Interest is payable only if the return is filed after the original due date. Because the due dates for filing of IT return…

Bad Debts | Bad Debts Accounting

March 16, 2021March 25, 2021 Admin

Well, First of all, there is a Debt. If getting paid in time, it is a Good Debt. And if not got paid, it became Bad Debts. What is Debt? The company sells on credit to its customers and allows them some time as a credit period to pay off their dues, which is called a debt owed by a Debtor/purchaser to its Creditor/supplier/provider of service. What is Bad Debt? There are some customers/debtors who taken the supplies on credit and after some time due to some reason…

Relief under Section 89(1) on Arrears of Salary FY 2020-21 – Excel Download

March 7, 2021January 9, 2022 Admin

arrears of salary, relief under section 89(1)

What is Arrears of Salary? An employee may get the past year/s salary in the current year. This may be due to revision of salary from past year/s or may be due to restructuring of salary from past year/s or may be due to any other reason. The Arrears of Salary (past dues) are received in the current year along with the current period’s salary. For example, An employee receives the normal salary of Rs. 12 lakhs for the year 2020-21. And also receive salary of Rs. 1.60 lakhs say,…

Deferred Revenue

February 6, 2021February 9, 2021 Admin

We know Revenue which is also called Sales or Income. Then the question comes, What is Deferred Revenue? The Revenue for the year gets recognized to the extent it Accrues or Arises in the particular Year / Period. There are possibilities that a Company may receive the Revenue in Advance for the Sale or Services or events that are to be rendered in the future. It pertains to the next Year / Period and will get recognized only in the next Year or upon happening of an event. It means…