Dear Experts,

We have formed a 100% subsidiary co in Dubai to acquire a company in Italy.

We have done due diligence & has paid the due diligence exp from our a/c's i.e. from holding company's a/c. holding company has debited these exp.

Is this treatment is right?

Subsdiary co. will not be doing any business activity there, if subsidiary company debit this exp, then there will be loss on its financilal statment. In this case can holding company debit the losses in its book incurred by its subsidiary company during the year?

Waiting for your reply...

Thanks in advance..
Regards,
Sushil.

Dear Sir,

I have purchase some spare parts of machinery as free sample... which is not return to customer.. same time not to pay any amount to customer... please clarify what is journal entry..

I am searching for a CA in Pimpri Chinchwad area in Pune who can look after work relating to Sales Tax, Income Tax, Profession Tax for a new startup SSI mfg company at reasonable charges.Please suggest some names with phone nos if possible.

Hi,
Please advise - Is it required that the Final Accounts of non profit religious institutions such as churches should be closed at a year ending date such as 31-12-2011 or FY - 31-03-2012.
If the previous year closing was done on 15/01/2011, then is it required that the next year closing should be done on 15/01/2012. OR Is it compulsory to close accounts at a year end such as 31/12/2011 or FY- 31/03/2012. Please advise.

Sir, I have a dought in my mind.
If a company is making export sale and recieves L/c from Buyer, L/c is discount from bank. Also a forward cover is taken.

I want to know the following:

1. How to make treatment of Forward Cover

2.At what value to Recognise The Sale Amount

3. Wheather the settlement of forward cover will have effect on sale value

4 Can we make following entry at the year end for forward cover gain

forward cover recievable dr.
to P&L A/c

Dear
Please tell me How many years should maintain books of accounts & related documents for Income Tax purpose ?

what entry should be in tally for provosion of income tax in Partner ship firm & Ltd company

i want to pass a same entry 100 times in tall 9. is there any shortcut to copy and paste in tally.
Plz reponse as u read

What Should be the treatment of the assets which has been fully depreciated but physically using in the business?Whether assets to be further revalued?
Plz reply !!!
Deepak

which exchange rate can be used for recording foreign transactions as per as 11?

our client using the cbec rate whihc incorrect, but how can i jusify the same with reference to as 11?