Dear Sir,

I have a query. Suppose a company is taking over the business of another company w.e.f.1.4.09. The High Court Order is passed on 30.6.10.

1. What value of assets and liabilites will be considered, as on 1.4.2009 or as on 30.6.10?

2.VAT no. of old company will get cancelled only on 30.6.10. Sales from 1.4.09 to 30.6.10 will be considered as for old company. How to reconcile this situation?

Dear Expert,
I've heard about L.Muralidharan for SFM, CA final- is it worth buying?
Has anyone used it or read reviews about this book??

thanks

While calculating the deferred tax liability as at 31/3/2010, in case of a company having turnover exceeding one crore, whether surcharge should be levied at 10% (P.Y. 09-10) or 7.5% (P.Y. 10-11) as the reversal of the same would be in 2010-11?

Dear sir/ Madam

I have received the bill of Rs/- 19000 and i deducted the TDS for that amount & paid to govt, The vendor again submit the revised the bill for Rs/- 18000

please suggest me what is the entry for this transaction b coz i have paid the tds

Regards
Mrityunjay

Thank you Amit sir for responding, however since income tax does not accrue evenly over time I don't think that it will be appropriate to apportion it on the basis of time. I feel it should be apportioned on the basis of profit or sales.could u please clarify the same giving the logic behind your reply.

X applied for 150 shares and 100 shares allotted to him. FV of Rs. 10.

Issue Price Rs. 12 per share {Rs. 2 Application., (3 on Allot. + Rs. 2 on Securities Premium due at d time of allotment) Rs. 5 on First and final call.

Now My Qn. is How we treat the excess amount received on application at the time of forfeiture of these shares.
excess of amount of Rs 100 used for Capital or securities premium.
What will be Forfeiture.

Dear All,
Sir here the company taken 11 Nos Loan from Banks they first calculate all thew interest and booked it as an asset (interest suspense)and after that on payment the entry is booked as like this
Suppose the loan is 100000 from HDFC Bank
EMI is 3778
Loan tenor is 36 Months
Total interest is 36000
the 36000 is transfered to Interest suspense
the entry is
HDFC A/c Dr 3778
Interest (P&L)1000
To,Interest suspense 1000
TO,Bank 3778
Which is right /Not

Second
I have repayment schedule if i can't paid the instalment currectly can i booked the the interest as expense ?

I have posted few forex payment through tally which is shows unadjusted profit /loss based on the initial amount

How to tranfer the same into exchange rate in difference account.

Regards
Deivasigamani

Dear All

Please let me know
1. the accounting treatment (revenue/Capital) of cost to acquire venture capital financing. My Clint has paid Rs 50.00 Lacs to consultants to acquire the Ventures Funds. I want know whether we should capitalized this or charge it to revenue?

My case is

THe company replaced the factory premises with Cement roads in the place of tar roads.

The management is arguing tat this expenditure is to be charged to revenue.

But in my opinion the expenditure incurred increase the life of the asset. so the expenditure is to be capitalised

whether my opinioni correct or not? if yes or no,provide me answers with necessary case references as soon as possible

Thanks in advance

Sarath