A balance sheet is nothing then just a summary of the financial activities during the year by the unit. it displays result of the profit/loss, economic strength,weakness etc.tally.erp 9 help you to generate a balance sheet just by pressing a single key.
Many times situation arise when you raise an invoice to your client, on which your client is requires to deduct TDS and pays the balance amount to you.The amount so deducted by your client, he is liable to pay it to the Income Tax department, hence its a receivable for you which you have to claim from the Income Tax Department and not from your client.
Provident fund contribution to be paid within 15 days before the end of month in which salary is disbursed. Many of us have wrong impression in this regard. learn the correct legal stand in this regard. Generally we consider the period when salary is being credited to employees account which is wrong.