Dear Expert,

I am working in Export company I want to know on 31/03/2012 whether any entry we have to pass for exchange rate difference entry or not if yes then why and how we will the entry??

Thanks in advance......

WHILE MAKING A PROVISION OF AUDIT CAN WE EXCLUDE SERVICE TAX ??

SINCE SERVICE TAX RATE HAS CHANGED FOR F.Y 12-13 & WE HAVE TO MAKE PROVISION OF AUDIT FOR THE F. Y 11-12, WHAT EXACTLY WE SHOULD DO WITH REFF TO SERVICE TAX & TDS.

Dear members good morning to all.
I have a query on above mentioned topic. Is there any concept called contingent asset ? if yes, how to disclose it in the balance sheet of business entity?

Dear All
Can any one clear about tds entry.
ex: If we are receiving a payment from a vendor we just Dr the Party and cr Tds certificate collectible after while seeing the 26 as we came to know that the vendor is deposited the tds. then what entry should be posted in tally ?
eg: TDS certificate received Dr
Tds certificate collectible Cr
The above entry is correct ? both the ledger are under a same group ie., Deposits . Pls clarify it
Regards
Naveen

What are items that create differences in the computation of accrued interest on fixed deposit by bank and as per our calculation?
I computed the same but i am getting little bit difference between bank and my calculation? If any charges were deducted then what could be those charges?

Sir, My question is how Long Term Capital Gain is adjusted in book of accounts. E.G. If I puchase a ready possession office for say Rs.500000/- in 2001-2002 and sale it for Rs. 10,000,00/- in 2011-2012. Since Rs.500000/- is the o.b. in Assets side in the year 2011-2012 then How it will be increased. My query is how amount including appreciation amt(indexed cost gain) + long term capital is adjusted. Is it directly credited to Capital A/c Pl. Inform.

An FD matures in 180 days and was entered on 1 January 2012. At the end of March 2012, how should we recognise the accrued interest. Should we recognise TDS on accrued interest or else we should recognise only accrued interest.
My question is TDS would be deducted only on 30 June 2012. So do we need pass TDS deduction entry too as at 31 March 2012.

A company entered into forward contracts for april may june on january 1st. Forward contract prices were 48.12, 48.23 and 48.45. If at 31 march 2012, the exchange price was 49. How the forward contracts should be accounted for at 31 March 2012.
As per AS 11 or AS 30 of IGAAP or do we need to use hedge accounting?
Please help me with the accounting entries and also the applicability of respective accounting standard.

We have a partnership firm doing software development business existing for 5+ years. Now one of the partners retire. So while considering the total asset of the firm do we need to consider the software developed so far. Company's main income is from selling these software. Company also have some Annual Maintenance Contracts which also give earning and renewed every year

how depreciation will be calculated on scooter in the case of:
W.D.V on 01.04.2011 - Rs.19314 and it is sold on
18.02.2012 in Rs.19314 and a new scooter purchased on 18.02.2012 in Rs.50800 in proprietorship concern.

Kindly give me solutions