what is the maning of "uncalled laiblity on shares partly paid".and how it is a contingent laiblity

Mr. X is a director of his private co. with 95% share in it(means he has sold the co.) Now he has sold his entire share to Mr. Y. In prev. financial year there was a loan given by Mr. X in the co. of Rs. 102000. Now after sale of the shares what should be the accounting for the loan

My company has a partnership firm which is under my company's control. How should it be treated at the time of consolidation of accounts. A subsidiary under AS 21 or a Joint Venture under AS 27.

Also how depreciation shall be consolidated in this case. As deprn of my company is as per companies act and that of partnership firm is as per IT Act
Please elaborate....

What is the way to retrieve cash payment exceeding 20000 rupees in tally ?

what is JV in accounts.

i know it means passing entry but we never came across this while studying.

what should be the accounting treatment for the amount recieved from the customer who has paid a token amount for purchasing a house in the books of the building developer.
Which accounting standard will be applicable??

LABOUR CESS(RELATED TO NEW PLANT) IN WHICH ACCOUNTING HEAD SHOULD BE BOOKED PROPER HEAD FOR THIS EXPENSES

what would be the entry for service tax receiving & paying and for cst &vat also

Hi,

One company purchased Land from Farmers for the Business.
They have given jobs to Farmers on Selection/Skill basis.
The Other farmers whet to Arbitrator for providing job or compension on not providing job.
Now the company paying the compension to farmers who are not willing to do job.

How to account the lump sum compension paid.
What will be the treatment in income tax.

Please suggest me with case laws.

Its very urgent.

Regards,
Sree :)

Our company is a privately owned one with two major group of family holding the shares (say group A and group B). Recently, group B purchased all the shares of group A and also made a family settlement by giving away the land, building etc. as a consideration. Various cost were incurred for the same like legal expenses, valuation fees etc. The expenses proposed to be amortized equally in the company's books for a period of 5yrs. Our Auditors are now saying that the said costs cannot be amortized in the books and has to be expensed out fully. This would be a big hit to the company's P&L. Please advise me about the treatment of the expenses based on the applicable accounting standard and also the provisions of the Companies Act, if any.