deferred revenue expenditure


Bank to report to IT dept cash deposit of more than 2.5 lac in savings and 12.5 lac in current account


Clarification on action to be taken by IT dept on cash deposits

Replies given by Revenue Secretary Dr Hasmukh Adhia on the questions relating to action by Income Tax Department in respect of old currency deposited in banks Q 1A lot of small businessmen housewives artisans workers may have some cash lying as their savings at home will the income tax department as

Prohibition of Benami Property Transactions Act, 1988

Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes Subject Prohibition of Benami Property Transactions Act 1988 reg Benami Property Transactions Act 1988 has been amended by the Benami Transactions Prohibition Amendment Act 2016 BTP Amendment Act The rules an

Due date for filing IT return extended in Jammu & Kashmir

F No 225 195 2016 ITA II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block ITA II Division New Delhi 18thOctober 2016 Order under Section 119 of the Income tax Act 1961 In order to mitigate the difficulties being faced by the taxpayers in the Sta

Indirect tax collection shows a jump of 25.9%

Indirect Tax Collections up to September 2016 show an increase of 25 9 over the net Indirect Tax collections for the corresponding period last year 2015 16 Net revenue collections up to September 2016 stood at Rs 4 08 lakh crore which is 52 5 of the Budget Estimates of Indirect Taxes for Financial Y

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Experts Opinions

Reimbursement for foreign currency expenditure

Dear Sir One of our employee has submitted his travel expenditures in GBP for reimbursements Please tell which exchange rate shall be applicable if we have to pay him in INR i e whether the rate of date of transaction or the date of payment shall be applicable Please provide the relevant law standar

Usage of revenue stamp

Is it necessary to affix revenue stamp when payment of above Rs 5000 is made to employees on account of TA advance Imprest given towards day to day specific expenditure

Capitalization of additional expenditure incurred on softwar

Whether any expense incurred on an existing software can be capitalized if it brings an added feature along with it The added feature will contribute reduction in manual interventions involved in the processes

Csr expenditure

Dear Sir Activities Covered under CSR inadvertently shown under the head Donation Whether can be claimed as a CSR Expenditure Regards Sachin

Format of income & expenditure of bus playing business

Dear Sir Pls help me to prepare Income expenditure of bus playing business


How to check in monthly income and expenditure in tally

hi i m working in hospital so pls tell me how to get the monthly report in tally income and expenditure report

Revenue stamp on payments above rs. 5,000.00

Why is it necessary to affix revenue stamp on payments above Rs 5 000 and what are the consequences in case of non compliance

Prove that interest expenditure was attributable to business

Im an individual that earns income from business and other sources mutual funds shares etc I had a loan for a year for business purpose and I repaid it with interest In the same year I also made investments in funds which yielded dividend interest income which was exempt from tax Now tax man wants m

Amc revenue accounting treatment as per indian gaap

1 In AMC invoicing customer is demanding 100 Tax Invoice while we are ready to give Pro forma Invoice So what will be the accounting treatment if we raise 100 Tax invoice as per customers demand should our Sales to be booked 100 than to pass the JV to move in deffered revenue laibility and on comple

Dept. of Revenue Intelligence (DRI) makes seizure of about Rs 12.91 crore

Department of Revenue Intelligence DRI makes seizure of about Rs 12 91 crore including 21 kg Gold worth Rs 6 47 crore and Indian Currency notes worth Rs 6 44 crore The Delhi Zonal Unit DZU of the Directorate of Revenue Intelligence DRI Ministry of Finance seized 20 64 kilogram gold and Indian curren

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File Download

  • Income and expenditure statement

    For making balance sheets and income and expenditure statements for small business A simple file
  • How to capitalise in a sap or how to raise pr in sap

    how to capitalise in a sap or how to raise pr in sap
  • Circular on Section 14A

    CBDT notifies amended Rule 8D for computation of disallowance u s 14A clarifies that amount of disallowance as computed under Rule 8D shall not exceed total expenditure claimed by the assessee Deletes sub clause ii in Rule 8D 2 which dealt with computation of expenditure towards interest not directly attributable to any particular income receipt as per the prescribed formula Increases the rate to be applied on annual average value of investments from 0 5 to 1 Amended Rule shall come into force on the date of its publication in the Official Gazette CBDT
  • Schedule II with Capital & Revenue Expenditure

  • IND AS 2-Inventories

    The objective of this Standard is to prescribe the accounting treatment for inventories A primary issue in accounting for inventories is the amount of cost to be recognised as an asset and carried forward until the related revenues are recognised This Standard deals with the determination of cost and its subsequent recognition as an expense including any write down to net realisable value It also provides guidance on the cost formulas that are used to assign costs to inventories http praveentawania com file details php title IND 20AS 202 Inventories

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GST Council mulls four rate slabs and 14% revenue growth assumed for States

The objective is that the rate structure should not lead to any further retail inflation The Centre and the States should have adequate revenue and it should also put the least possible burden on the taxpay Shri Arun Jaitley Honble Finance Minister Moving swiftly on the road to formalising the bigge

Deferred tax analysis

The concept of Deferred Tax is not a simple to understand and many get confused while applying it in the books So we shall try to go through simple and lucid manner to understand the whole concept and its application in the books through entries The word Deferred is derived from the word Deferments

Deferred Tax Introduction

Deferred tax When we look out for the meaning for Deferred it means to Postpone or delay Similarly deferred tax is also liability to pay tax in future that we have postponed and have to reflect in our balance sheet With coming of financial year end and closing of books of accounts we have to calcula

Goods & Services Tax (GST): Revenue Neutral Rate of Tax

Introduction of GST is an important step in the direction of much awaited tax reforms With the passage of the Constitution Amendment Bill 2014 for in May 2015 Government is now all set to implement Goods and Services Tax GST by April 2016 subject to the Bill being passed by the Upper House of Parlia

Overview of tax implication of CSR expenditures

Introduction 1 1 1 The Finance Act 2014 has brought a very radical far reaching amendment asfar as CSR expenditures are concerned 1 1 2 There was a lot of expectation that as a corollary to the CSR related amendmentin the Companies Act there will be a corresponding amendment in the IncomeTax Act 196

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Updated on : 12/4/2016 11:59:11 PM


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