sir, I have a that in the may attempt of pce in accounts there is a question from incomplete records , there is an adjustment of goods costing rs. 18000 used as an advertisement articles sir i want to know the exact treatment of this in trading , profit and loss a/c and in the balance sheet?

Gud mng experts

dear when we pay the tds amt paid for the month of march in june what entry pass for the same?????

If suppose we have invested in mutual funds which is a BALANCED FUND on 1st April 2011... And the maturity of mutual fund is 5th April 2012 and we are getting returns also on that corresponding day...
So we will recognize Dividend on Investment on 5th April only as per AS9
BUT suppose if we know that since it is a balanced fund(equity+debt) Can we recognize the interest on the debt part of the investment on accrual basis at the Risk free market rate?????
Please suggest.
Very very urgent

If a company Changes his Method of policy By changing the method of depriciation From SLM to WDV The method is changed for the Entire Plant and machinery in the Company. Does AS 6 Applies to the Company to do Retrospective effect from the date of use of machinery. The company has not done retrospective effect because they have a opinion the AS mention retrospective effect for Method Changed for Asset not Assets.

we have import a machinery on 22-4-2012
but payment made in advance i.e. on 19-4-2012
whether any treatment is required

Sir,

We at our company has provided the imapairment of the assets during the year 2008-09. During the year 2011-12 we have write back the imapairment loss due to good expected revenue on the basis of the good production profile as intimated by the Production group.

As per AS-28 the WBV of the assets after the writeback should not be morethen the WBV which would have been arrived at if there was no Impairment provious years but it is silent on the issue of dep calculation after revised WDV. My Query are:
1.what should be the dep for the year i.e. on the WDV before Write back of Impairment or after Writeback
2. Whether the revised dep calculation should be done retrospectively.
3. we at our company are following the SAP system which is recalculating the Depriciation with retrostective effect w.e.f. the year where the imapairment was done on the wdv before imapirment......whether it is corrct?

Pl advise me onthe same. If anybody can give any reference to any book or material that will be helpfull to me....

CA Jitender Kumar

I have inherited 500 gms of gold from my father who have died recently(6 months). I found the purchase bill for the same which is of year 2008. I don't know weather this gold has been accounted or not. If i want to sell this gold to buy a new property, will i have to pay capital gain tax for the gold which i want to sell? Please guide me.

A broadcasting company expended huge amount on survey before commencement of production but after incorporation. The company allocated whole expenditure on its fixed assets proportionately.
what should be perfect treatmentr...

A co. had taken a loan for 5 years of Rs. 9,45,00,000 on 31.03.2009 and continuously default principal, interest & penal interest as follows
Rs. in Cr
Financial Year 2008-09:
Principal default-Rs.9.45 cr.
Interest default- NIL
Penal Interest Default- Nil
Principal o/s as on 31/03/2009-Rs.9.45cr

Financial Year 2009-10:
Princpa; default-Rs.1.89cr
Interest Default- Rs.1.37Cr
Penal Interest Default-NIl
Principal O/s as on 31/03/10-Rs.9.45Cr
Interest O/s as on 31/03/10-Rs.1.37Cr

Financial Year 2010-11:
Principal Default-Rs.1.89CR
Int. Default-Rs.1.10Cr
Penal Int. Default-Rs.0.56Cr
Principal O/s as on 31/03/11-Rs.9.45Cr
Int O/s as on 31/03/11-Rs.2.45Cr
Penal Int. O/s as on 31/03/11-Rs.0.56Cr

Financial Year 2011-12:
Principal Default-Rs.1.89Cr
Int. Default-Rs.0.83Cr
Penal Int Default-Rs.1.07Cr
Principal O/s as on 31/03/12-Rs9.45Cr
Int. O/s as on 31/03/12-Rs.3.29Cr.
Penal O/s as on 31/03/12-Rs.1.64Cr

Financial Year 2012-13
Principal Due 1.89 Cr & Previous years Due

Now as per revised Schedule, as on 31.03.2012 what amount will be shown under
-- Long Term Borrowings
-- Short Term Borrowings
-- Other Current Liabilities.

when does a company require to revalue its assets.??
for ex: Land of Rs80000 is displayed in balance sheet. since prices of land has increased manyfold, is it require to revalue it.
is it mandatory to revalue fixed asset...or there any time interval in which asset(land) need to revalue..??