The query is: As per Companies Act if IND AS are made applicable to parent company then they are compulsorily applicable to subsidiary and associates also. But the criteria to decide whether a company is subsidiary/associate as per companies act is share holding, whereas as per IND AS 110 the criteria is wide which defines power & control.
Now, if a company does not meet the criteria to become subsidiary/associate as per companies act but the same company comes under definition of subsidiary/associate as per the conditions in IND AS 110.
Which will prevail then? Whether the said company has to maintain it's books as per IND AS?
If not, whether it has to prepare its financial statements as per IND AS for the purpose of Consolidated Financial Statements of Parent company?
Please help with appropriate references.

the capitalization of development cost of land like land filling, cleaning, grading, levelling are part of land cost or part of Building cost.
Assessee wants to make building for its own business purposes. He deals in food grains.

please clarify.

Sir,
A person new business strated dt:01-08-21
1.if a person capital investment in firm rs:8 lacs dt:2-07-21
2.purchase of furniture and others amount rs:3 lacs paid.dt:20-07-21
Question:
Assess above mentioned all transactions different dates or businesses starated day accounting entry passed in books is correct method.

Dear Sir

Can i need to pay income tax may annual income is rs.624000/- in which i have deposit RS.150000/- In PPF account.

Sir
We have imported goods and the invoice value is USD 89216.and we have paid whole amount in advance by converting Rs 73.45 per usd on dtd 03.07.2021. bill of lading dtd 11.07.2021. And BE dtd -16.07.2021.and on bill of entry the conversion rate is mentioned as 75.30 per usd.My question is that.

1. On which date we will book the purchase in our books .either bill of lading or bill of entry date .
2. Payment is made less than the value in rupees mentioned in bill of entry .but we have paid the full balance 89216 usd to party .how to set off the balance lying in party account in our books.
3.there is a forex gain .


Thanks

In super market we received goods like soap ,oil , biscuits with estimate bill worth Rs.75653/-
we made payment before recived original bill and also sell some good soap ,oil.
but in orginal invoice goods name 250g three rose tea bag , tajmahal tea bag,etc to raise bill with Rs.75653/-.
we asked to change the bill to supplier.
but supplier refused
he filled GST Return.
We demand from supplier change bill last two months but he not changed.
What will do?
how to make purchases entry and stock .already sell some goods

WE HAVE REGISTERED ONE PRIVATE LIMITED COMPANY WITH CAPITAL OF RS. 1 LAC. TOTAL 4 DIRECTORS SUBSCRIBED 25000 EACH GIVING 25000 CHQ IN THE NAME OF PRIVATE LIMITED COMPANY. . WHAT ARE THE JOUNRAL ENTRIES WE HAVE TO PASS IN BOOKS OF ACCOUNTS. WHETHER HAVE TO CREATE FRIST DIRECTORS ACCOUNTS UNDER SHARE CAPITAL (LIABILITY) AND THEN HAVE TO PASS ENTRIES
BANK ACCOUNT DR. 100,000/-
A'S DIRECTOR SHARE CAPITAL 25000 CR
B'S DIRECTOR SHARE CAPTIAL 25000 CR
C'S DIRECTOR SHARE CAPITAL 25000 CR
D'S DIRECTOR SHARE CAPITAL 25000 CR
IS THIS RIGHT ENTRY?

Sir,
A partnership firm two partners one partner another individual business maintained.if individual business maintained partner selling of goods value rs:6 lacs to partnership firm.
Question:
A partnership firm rs:6 lacs balance amount transferred to one of the partner capital account transfer adjustment accounting entry passed in books allowed in it act.

hello, if i become nri is it mandatory to tell bank that i have become nri?
if required then in how much time?
if i have any loans running for business or home loan will i have to close or those will continue?

i have been paying all my emis timely and will continue but don't want to close just because i become nri.

if i avail overdraft and business loan on proprietorship current account (abcd name) from bank then

a) can i continue using existing current accounts with other banks in same name (abcd)?
b) if I become nri then will it be possible to continue that od and loan?
c) what affect od will make on my personal banking or any other current account with different name or same name?