Hi,
Can anyone tell me whether to capitalise interest on specific loan amount taken to purchase a vehicle if the order was placed with the dealer and the car was not delivered for two months.
Amount of the vehicle was already paid to the dealer.
Interest was regularly paid to the bank.
Will this asset be called as a qualifying asset under AS16.
Reply ASAP.

Dear friends..

My query is very simple regarding capitalization of certain expenditure. While purchasing a machine, i.e., import of a machinery, do we capitalize the customs duty paid for it?? All the other expenses related to the installation, etc are capitalized but what about the customs duty paid? is it to be treated as an expense or should it be capitalized?

Waiting for a reply...asap..

Dear experts

Please tell me if i have taken a unsecured loan on interest and has given this amount as advanced for purchasing a land then can interest be added in the cost of land? if yes
then plz elaborate under which provision?

what is air please know about in detail

CA's are exempt from payment of Service Tax now payable on Billing basis wef-01-07-2011

With reference to the above statement only CA are exempted or any other category is also omitted from the Service Tax payment on billing basis

suppose
asset's Historical cost-- 100000.00
Provision For depreciation- 25000.00
WDV as on 01.04.10-- 75000.00
Asset is sold for --- 120000.00
What should be the accounting treatment in the book of account And whether capital reserve arise for rs 20000.00 ?

Respected Sir,
Please tell me that our's is pvt. co. & till now we have not started business. our co. has incorporated on 20 th oct,2010, can we show extra amount bought by directors as share allotment i.e. amount other than minimum subscription (1 lac).
can we show this money as loan or share allotment money.
also one person who is not director on paper his fund bought in is rs. 5 lac can we show this also as share allotment money or have to show as loan

sir

what is deferred tax assets / Liabiites
please clear my query

Hello,

Can any one tell me how to pass purchase entry in tally, Suppose advance is given in January and Bill is received and booked in march , in that case ledger is tallied, but in s. creditors list it is showing the balance payable. Please guide me .

DEAR

PLEASE TELL ME HOW TO CALCULATE COMPANY ACT DEPRECIATION RATE