Dear Experts,

Mr.A is director of Pvt Limited and He is doing proprietorship business. My Query, is he is getting director remuneration in Pvt Limited. is we need to show salary received & TDS receivable in Proprietorship accounts if yes under which head we have to take whether as capital or Other income under indirect exp.

Pls clarify.

CAN UNDERWRITING COMMISSION BE GIVEN IN KIND ?

l have a car in my books.its book value is 378555 & i sold in rs.312500. can i claim depriciation on this car for 7 months.

i want to purchase new car .is it beneficial to show more loss on sold car. what is the impact of loss on balance sheet.

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.