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.

pls tell me we have pvt. ltd. co.
we have 21 employees so do we need to go for pf.

also pls tell me for tds - if salary paid in cash & tan no. got on 5/12/2010. will tds has to be deducted for sept. & oct. 2010 which is paid in cash

Hi All,
I have a query that in case of finance lease if both parties agrees that the lease rentals + applicable taxes (VAT or Service Tax) shall be born by the lessee, then how we should calculate the amount to be capitalized initially, assuming there is no VAT or Service Tax credit is available to the concerned.
1. PV of lease rentals + applicable taxes (VAT or Service Tax), but this will lead to additional interest cost on VAT or Service tax portion also
2. PV of only lease rental and capitalizing VAT or Service Tax as and when they are charged by lessor to be depreciated in remaining useful life of the asset because this is not financed by lessor.
Please give reference of relevant rule.

regards

In tally how to continue the last year BRS?
Is it possible to get form 16 A with amount in tally ?

Sir ,
As i am runing a hosiptal, may i claim that doctor who are come to service my patients are servicing directly to that patient, myself only collecting some amount as commission from doctors and patients thereby averting tds,Reciepts are made seperatly like,doctors fees(recieved onbehalf of doctors) and other hospital fees (for myself)? is it acceptable for income tax purpose? please guide me

How to prepare CMA Data? What is a CAS Form? ineed a format of that and what points to be kept in mind while prepairing it?

What is/are the accounting treatment/consequenses if 1000pcs of material offered for jobwork but only 500 pcs are sent by the Co.,bill is raised by jobworker on 1000 pcs & Co. has received the bill. If in such a case Co. paid for 500pcs Then what will be the consequenses.

According to AS 11, the debit balance of FCTR should be shown under which head??
Pls reply its urgent...

we r making only ONE direct payment entry of salary as follows in TALLY
Salary(dept wise) ac DR
To Bank ac
To PF ac
To PT ac
To TDS
Now we want our JV entry to be made without altering the above entry as it runing from april 2010 to dec 2010....
pls suggest us the entry so that we can have proper effect of accounting and pls suggest us if any issues can be raised during audit.
From 1-april-2011 we will follow proper procedure of having two entries one of JV and other payment...but for now pls suggest us with the entry..
Gagandeep singh rathore
CA finalist (student)