Hi,
The Following are the deatils of X Ltd
A/cting Profit 500000
Book Profit as per MAT 450000
Profit as per Income-tax Act 50000
Tax rate 30%
MAT Rate 7.50%
Queries
1)What is the total expenses to debited in P&L account
2)What is the deferred tax amount to be carry forward and what are the condition for carrying forward,when a company paying Tax under 115JB?
3)Can a company can setoff regular tax income against MAT credit which is carry forward according to AS-22?

The company is listed it's FCCB in Luxembourg SE. The other conditions with regard to applicability of IFRS are not applicable to the company execept oversea
listing of FCCB. This FCCB can either
be converted in to equity shares and listed in India, in case of conversioan or
be redeemed on maturity in July'11.
There is no ADR or GDR embedded in FCCB.
under the above context, IFRS would still be applicable? This FCCB is covered under
Overseas Listing of securities?

Can any body guide and give expert opinion
on this?

Thnaks in advance..

Mouli

CAN ANYBODY GIVE ME SHUKLA-GREWAL OR R.L GUPTA NOTES.
I WILL APPEAR FOR IPCC IN NOV'11.

Its Urgent!!!!!!!
Can anybody tell me that whether property tax is added in the self occupied property at the time of purchase or shown as withdrawals from capital account?

I AM A IPCC STUDENT & DOING SELF STUDY.

I WANT TO KNOW HOW TO STUDY AMALGAMATION AS I HAVE HEARD THAT IT IS VERY DIFFICULT & ONE 14-15 MARKS QUESTION IS ALWAYS THERE.

PLEASE HELP & SUGGEST ME ANY REFERENCE BOOK THAT WILL HELP ME IN UNDERSTANDING THIS CHAPTER.

PLEASE ALSO TELL ME THE IMPORTANT TOPICS & MARKING SCHEME(IF ANY) OF THIS CHAPTER.

Our company deposited 1000/- as deposit fee for Honda Activa and it should be delivered in April 2011 so now my doubt is what entry should i pass for that 1000 in my books and also please suggest thier respective undergroups i have to give in Tally

thanks in advance

dear experts i just want to know the difference between the leases and hire purchase.
the doubt occored wen i strted preparing for my group 2 accounts.. speciall in AS. so ur answer must be in dat that perview!
thanx in advance!

Is this correct? or is there achange in this regard-
If any enterprise has incurred ancillary cost (related) for the arrangement of funds than amortized part of such cost should also be included as a part of borrowing cost.
For example:- Brokerage, commission, stamp duty charges and any other related cost.Amortized Cost =Total Cost/Usages Am. During the year

HI EXPERTS I GOT A PROBLEM THAT I THINK U CAN SOLVE.
I AM A IPCC STUDENT & DOING SELF STUDY.

PLEASE TELL ME WHAT REFERENCE BOOKS R THERE FOR IPCC TO GET GOOD MARKS IN EXAMS.
I WILL GIVE IPCE IN NOV'11(BOTH GROUPS) & PLEASE TELL FROM WHERE TO PURCHASE THESE BOOKS.

H ltd has two subsidiaries(Directly holding 60%,& 70% respectively) A ltd & B Ltd

Balance sheet H Ltd
Liability side
Current a/c with A ltd-Rs.40000
Current a/c with B ltd-Rs.40000

Balance sheet of A Ltd
Asset Side
Current a/c with H Ltd-Rs.36000

Balance sheet of A Ltd
Asset Side
Current a/c with H ltd-Rs.44000

Adjustment:
A remittance of Rs. 4000 by B Ltd to H Ltd has not yet been adjusted in the books of H Ltd.

Question : what will be the effect in the consolidated balance sheet & what is logic for opening current account ?