Dear Experts,

My doubt is regarding recognising a Contingent Asset i.e Dividend Income from a Subsidiary. Suppose for FY 10-11, Y Ltd (Subsidiary of X Ltd) declares dividend on May 30th, 2011. By then the Audit of X Ltd was not over. Can X Ltd recognise the Dividend Income from Y Ltd in FY 10-11 itself?????

Thanking you in advance

Prithvi

Respected Sir,

I have read article in which its mention that no tax return for salary & interest upto Rs.5 lac & scheme applicable from ay 2011-12 onwards

1) will it affect tds to be deducted from company point of view
2) will this mean that upto rs.5 lacs salary income tax return to be filed if we dont have any refund
i am also sending link
http://in.finance.yahoo.com/news/No-tax-return-salary-interest-pti-4140449186.html
pls reply its urgent

A power generating company incurred huge expenditure on technical feasibility, research, survey, design and DPR reports initially planning that they will set up 210 mw capacity plant then changed their plan to set 600mw and finally now company is setting 660mw plant. Whether expenditure incurred at the time when company planned for setting 210mw and 600mw plant should be capitalized or charged to revenue.

plz suggest best way to learn IFRS

whether any coaching will help?

I want to know the entries in Tally. How to create the Ledger in Tally.

When we give advance, payment for salary. How to create in Tally and posting of a Journal.

And How to pass for every person. If we go to ledger, I will enter the person name only.
Salary, advance, travel advance, travel expense, travel reimbursement,PF, ESIC, PT, TDS everything has to come in the ledger. when we enter a person name.
Could you plz give me a answer.

We have purchased a capital goods from USA.
for i.e
Advance Made as on 1st December 2010
Receipt of Goods on port 20th February 2011
Clearance of Goods fro port 25th February 2011.
Invoice Date 1st January 2011
Invoice accounted on 31st March 2011.

Query :-
Which rate of exchange should i consider for capitalization of assets.
i.e. as on 1st December 2010 or 20th February 2011 or 25th February 2011 or 1st January 2011 or 31st March 2011.

How to give the accounting treatment of whole transaction??

Can anyone clarify the following inter company transaction:

Suppose if I want to allocate salary & other cost between 2 companies, which account should i debit/Credit with regard to expenditure part.

If I debit/Credit salary account, then PF ,ESI Contribition does not match in the P & L account. Same is the case with TDS related accounts. I would have paid TDS from one company and later on when I allocate and transfer the expenses to other company then the TDS on Gross amount in P & L does not match.

OR, is there any other head under which such inter company expenses can be absorbed.

Hi,
In a Superannuation Trust, where every month contribution is made which directly is deposited in Bank

What will be the entry if contribution for the month of March 2009 has came in Bank in April 2009 and also the cheque was isuued on a date in April.

Can an entry be passed showing provoision for month of March on Accrual Basis or not?

Pls answer

ANY ONE CAN EXPLAIN ABOUT THE GOODS TRANSPORT AGENCY

what is the difference between capital fund and General Fund ?