Mr. X has converted his private asset comprising of the following asset into his
business asset on 01.4.2008:

Asset Original Cost Dt. of Acq
A) Building Rs.2500000 01.04.06
FMV as on 01.04.08
Rs.3500000
Value recorded in books
Rs.4000000

What is the cost of asset to be capitalized in the books?

Thanks
Regards,
Devendra Kulkarni

Dear All

Request you to kindly tell me how to account / the entry to be passed (accounting software used - Tally)while establishing Letter of Credit (LC) in favour of the supplier for procurement of Raw materials / spares. On an average the usance period of LC is between 60-120 days.

Currently the client is not recording the transaction in tally and the same is kept outside the books. As and when the LC is liquidated the same is recorded in the books.

The books doesnt reflect at any point of time the total of LC outstanding.

I am of the opinion that - for the client it is not a contigent liability.

Kindly advise

Can anybody tell me
What are the papers to be required to prepare Annual Report? and who is responsible to prepare annual report in a company?

Dear all,

Which date & rate of exchange to consider for passing the entry for Import purchase.

1) Date of bill & rate of exchange on tat day?
2) date of Bill of Entry & rate of exchange on tat day?
3) Date of Bill & rate of exchange on Bill of Entry?

or any other method?

Waiting for reply.


Thanks,
Sushil.

if we cash received more than 20000/-
is there any penalty.

upto how many rupees can we get cash in one day from party
best regards
husian

what entries co would pass in its books of Account since it is mere a stake sale.

plz sir clear my this query -sir plz tell me the calculation of tds.int.rate is1.50%.supose i m late & i m deposit it after 3 days(after due date) than how i do calculate it.my tds for the month of october is 1941 i m late to deposit only 3 days.than how i will calculation of this.
1941*1.50/100/31*3=3
or
1941*1.50/100=29
which is right . bcoz some expert say that calculation is may be
1941*1.50/100

good morning sir, sir clear my this query -sir plz tell me the calculation of cst int.rate is 1.25% in uttarakhand. supose i m late & i m deposit it after 3 days(after due date) than how i do calculate it.my cst for the month of october is 989111 i m late to deposit only 3 days.than how i will calculation of this.plz tell me calculation
989111*1.25/100*3/365---102 or
989111*1.25/100-12364
in both calculation which calculation is right.plz sir reply.in this query some expert tell me that the calculation is

989111*1.25/100/31*3-1196.
but sir as per my knowledge calculation is

989111*1.25/100-12364.
than sir plz clear my doubt..

how to make entry of tds provision in tally9 and when do we passed the entry?