Sir,

Pls explain one purchase bill contains excise duty, service tax, vat is it acceptable or not.

Dear Experts,
I have gone through an rent agreement of leased premises with lock in period of 3 year. Where leasee has to pay to the lessor rent in following way:-

1) In first year rent payable by the lessee will be 1000000(P.M) + service tax (F.Y. 2010-11)


2) second year rent payable by the lessee will be 1200000(P.M) +service tax (F.Y. 2011-12)

3) third year rent payable by the lessee will be 1500000(P.M) + service tax (F.Y. 2012-13)


Lease nature is of operating lease.


Now my query is about rent equilisation. In the books of lessee is rent equilisation has to be done if the rent agreement contains above clause?
If yes, then how it would be done?

Warm Regards !!!!!!!!
keval

dear all
one o my client is distributor of idea mobile prepaid recharge he get commssion u/s 194H he purchase from co. and sold to retailers but he get commission so it is not sale purchase for him and he is carrieng stock of voucher in hand now pls tell me how i make these entries in my books of accounts

Hello,
Can any one tell me, what is CREDIT MONITORING ARRANGEMENT and it use..????

Sir, I want to know how to show bribe money given to ministers for government contractors show in accounts..i mean in which expense head...or should we show it in accounts or not?

WHY IS AN INCRESE IN RESIDUAL VALUE AFTER REVALUATION NOT PERMITTED IN AS-26 BUT DECRESE PERMITTED

Dear Experts,

We want to discount a export bill with bank.
Bill is for $ 1,08,000/- terms of pymt is 90 days from Bill of Lading.

B/L date is 06.08.2011.

suppose if we discount the bill with our bank on 07.09.11 @ Rs46.20/$. & rate of int on bill discounting is 10.27%. then..
What will be the amt of int on bill discounting?

What period will be taken into account for calculating the int on bill disc.?

Whether from B/L date to due date of bill or from the date of bill discounting to due date of B/L date?

Waiting for ur reply....

Thanks in advance..
Regards,
Sushil.

A Fixed Asset was purchased for 100 last year on which accumulated depreciation at the beginning of year is 40/-. During the year 5/- was depreciated. Thereafter entire asset was sold for 14/-. How it will be presented in the Depreciation schedule?

Kindly show drawing a format.

In case you can't attach a template, pl tell me whether, -45/- (40+5) to be shown in current years depreciation adjustment (Main column Depreciation, Sub column Adjustment)? What will be gross block of Asset at the year end? Is it zero (100-1000)?

What will be depreciation balance at the year end? Is it zero (OB 40+Accumulation 5 - adjustment 45)?

What will be Net block at the year end?

A Fixed Asset was purchased for 100 last year on which accumulated depreciation at the beginning of year is 40/-. During the year 5/- was depreciated. Thereafter entire asset was sold for 14/-. How it will be presented in the Depreciation schedule?

Kindly show drawing a format.

In case you can't attach a template, pl tell me whether, -45/- (40+5) to be shown in current years depreciation adjustment (Main column Depreciation, Sub column Adjustment)? What will be gross block of Asset at the year end? Is it zero (100-1000)?

What will be depreciation balance at the year end? Is it zero (OB 40+Accumulation 5 - adjustment 45)?

What will be Net block at the year end?

Huge payment has been made to regulatory authority of a country for getting approval of a product to be sold in that country. This approval is towards getting approval of the product and also towards marketing the product in that country. This expenditure is incurred on every product the company intends to sell in the other country. Only after such approval the product can be sold on that country. Each Product has a life spam though the approval is for a lifetime. How should such Expenditure be treated.


1. Is it a Capital Expenditure or Revenue Exp?

2. If capital expenditure, will be an intangible asset?

3. If asset then shall it amortized over the life of the product



Please support your answers