We paid to service tax Arrea Officer 500 Rs as bribe where we put into expences Head

If you(experts/seniors) finalized the B/S then kindly What are the main point of VAT to consider while finalizing the Accounts, and what items in connection with VAT send to B/S.

Dear all,

We are a pvt ltd co. Recently, one of our senior employee got transferred from Chennai to Delhi.

On this he has incurred some exp..., like travel exp for his complete family, Household relocation charges, etc.

What should be the appropriate account head for this exp ?

Can this be accounted under normal staff welfare expenses ?

Kindly reply.

Subhash

As per AS-9 para 11 there are conditions which should be satisfied for recognition of revenue from Sale of Goods. Conditions are that all risks and rewards attached to the goods should be transffered to the buyer and effective pocession should exist with the buyer except the case where the delivery is pending on buyers reqest and collection of revenue against goods is certain.
In my case sales are done at CIF basis. All the liability and risks etc attached to goods are borne by seller upto dilivery. The goods are dilivered to the destination by the buyer by hiring a transporter. The buyer recoganises purchase only when goods are dilivered at the desired destination.
Few despathes were made near the close of Financial Year (on 29th , 30th and 31st of march 2010) which were recieved by the buyer after 31.03.2010.
My query is - When should i book my sales?
1. At the time of dispatch, or
2. At the time of reciept of goods by the buyer.
Please forward me any decided case law. (if there is any)
My id is ananthdel@gmail.com

I have a pvt ltd company into structural and engineering consultancy. I pay salaries to various engineers and designers which is very high. I have a query: Suppose I pay Rs 500000 as Salary to my engineers on monthly basis for the month of March which i'll debit to P&L a/c but the corresponding bill for the project on which they were working was booked in April. So what is the treatment for the salary for which no corresponding revenue is booked as per matching concept?

how 100% holding in subsidiary co. by holding co. is possible? as minimum 2 members are the basic requirement in company.
please send me quickly answer.

A person purchased a computer for Rs 30000. he was given a scrach card in which he won a Gold Coin worth Rs 5000.

What should be the accounting entries to be recorded in the books of the person.

Please suggest?

what is the difference between convergence & adoption of IFRS.plz reply me soon.

I want assistance in knowing were does LETTER OF CREDIT facility availed by company from financial instition be reflected in BALANCE SHEET & why ?

Sir,
ours is ahospital. and has a pharmacy connected to it. every month we pay Vat on the following basis: Vat on Sales minus Vat on purchases , say it is XXX. I pass an entry as follows: Vat a/c Dr. XXX
To bank a/c XXX

For purchases the entry: purchases a/c Dr.
To bank (amt including VAT)
and for sales it is Bank a/c Dr.
to Sales A/c (amt including vat) is this right? if wrong please give the correct entries. i hv read somewhere that vat input a/c, vat output a/c has to be opened. how is this done. or is it ok with what i am doing.