Sir,

I have a land in my books at Rs. 2 lacs since
the year 2000.
It has a market value of Rs. 30 lacs as on date.
For the purpose of bank loan i wish to show my balance sheet as strong as possible.
for that purpose i want to show the land at current market price in my Balance sheet

How shall i do it and will there be any tax implications of the same?

what is Profit & Loss Appropriation A/C? kindly explain with example

HELLO ALL. I WANT TO KNOW DAT IF WE MADE PURCHASE AS OUR ROUTINE BUSINESS PURCHASE DEN ON DAT PURCHASE WE HAVE TO PAY SOME FREIGHT CHARGES AS INCLUDE IN ALL BILLS. SO CAN WE HAVE TO SHOWN IT AS FREIGHT EXPENSE OR MAY BE INCLUDE IN PURCHASE...?
I THINK IF WE ADD IT IN PURCHASE DEN TOTAL PURCHASE WILL BE INCREASE AND D FREIGHT EXPENSE WILL GET NO PLACE AND WHICH VIOLATE D TRUE AND FAIR PRESENTATION OF ACCOUNTS...SO PLZ CONFIRM ME WHETHER I HAVE TO SEGREGATE DIS EXPENSE OR NOT???
ALSO INPUT VAT IM SHOWING IN ACCOUNTS AS TRADER DEN WHT ABT CST PURCHASE..WHETHER I HAVE TO SEGREGATE CST OR INCLUDE IN PURCHASE????
WAITING 4 D BEST REPLY.....
RAKESH CHAUHAN
(MUKUND PATEL & CO. CA'S-ANAND)

pls let me know how to treat profit/loss on sale of an asset under WDA method and how to charge depreiciation during that year

X of koikata sends out goods costing 1,00,000 to y of mumbai at cost+25%.Consignors expenses Rs. 2000.3/5 of the goods were sold by consignee at Rs. 85000.Commission 2% on sales + 20% of gross sales less alll commission exceeds invoice value.Amount of commission willbe: (a)rs.3083 (b)rs.3000 (c)rs.2500 (d)rs.2000

most of the us companies present in financial statements level 3 financial instrument. Did you explain level 3 financial instruments what is difference between level 1,2,3 securities

Hi,

I am converting INR TB to $ TB, all BS items at closing rate and all P&L items are at average rate, but I am getting huge amount as exchange fluctuation difference, should i need to treat it as exchange loss? is that the right way to do?

Awaiting for your reply.

Regards,
Nazir

A company borrows USD 100 by way of FCNR (agst WCL) on say 5th Jul 10 at Rs. 46.74 On 10th Jul 10, when the spot rate is Rs. 46.10, it takes a Forward Contract agst the above FCNR loan at Rs. 46.64

Question:
a) Will there be Discount of Rs. 0.10 on Fwd. Cont i.e. difference between the rate at which it is borrowed Rs. 46.74 and the rate at which Fwd. Cont is taken Rs. 46.64 OR
b) Will there be Premium of Rs. 0.54 on Fwd. Cont. i.e. difference between the spot rate on 10th Jul Rs. 46.10 and the forward contract rate Rs. 46.64

Sir,
Pl. provided me depreciation rate according to co. act. & income tax act.

Thanks,

Dear CAclubindians,

What is Liquidity Planing?

Regards,
Jayanand.