IS REVISED SCHEDULE VI IS APP. FOR NOV 2012???
IF YES WHAT BOOK TO BUY FOR FINANCIAL REPORTING FOR CA FINAL WITH EDITION??????

Respected Sir,

My query is that,

I am having land and building showing book value on 01.04.2011 of Rs. 1,00,00000/- but i sold the land & building to the seller for Rs. 1,35,00000/- so the income amount of Rs.35,00,000/- is taxable income ?.

& what book entry will come in land & building ledger.

its urgent.

Dear Sir

whether sales and purchase ledger entry above Rs. 20000/- in cash can be made or not. please clarify me in detail

I have only 2 queries

1, 4 Partners A,B,C,D creates a partnership firm after 1 months there are some purchases which will be paid to sundry creditors but partner B says i will pay to all creditors so how to do entry of it ?

2, partner D want to retired from partnership firm after 1 year. after calculation of capital, partner A decided to pay to partner D all his capital in this case how to do entry in account of partnership firm ?

thank you very much for listening

waiting.....

Sir
What is Guranteed Residual Value IN AS 19
What is the Reason for fixing GRV ?

What is the difference between Internal Reconstruction and External Reconstruction ?

Dear sir,
i work in a firm, wich has negative cash during the year so i want to take cash from partners as capital during the year, is it limitation to introduce a capital in mode of cash, while we know that above 20000/- payment is not valid according to Income Tax.

Dear All,

One of my client engaged in purchase and sale of spare parts for automation related instruments/machines.

They treat it as manufacture, but i suggested thst it should be treated as trading and shown in Trading and P&L A/c.

They do not agree to my comment, Who is correct.?

Also they argue saying what is wrong in treating it as manufacture.
Can u quote relevant case laws / sections in support of ur answer?

Why do we need to create provision for obsolete stock? is it mandatory or management discretion? Many products are lying in stock for morethan 3 years but still it can be saleable and usable condition... If we make a provision for obsolete stock, what would be the actual effect on business?

Can anyone please explain the concept of provision for obsolete stock?

Hi,

Wha is the difference between lease hold improvement and furniture and fixtures.


Sincce both made of variety of large equipments. While coding such invoice, can we create single asset code for all the equipments.

Thanks in advance.