Dear all,
Please help me on this query:

Income before depreciation and taxes=Rs.6,000/-
Depreciation as per Companies Act=Rs.1,52,000/-
Depreciation as per Income Tax Act=Rs.5,70,000/-

What will be the treatment as per AS-22?

Respected sirs and ma'ms,
I am a student of accounts from Ahmedabad,Gujarat.I just learned about reissue of forfeited shares.In this topic I was taught that when we reissue forfeited shares at a discount,we have to debit forfieted shares account with bank account.So I want to know the logic behind debiting of forfeited shares account inspite of share discount account!!!!!Please help me to know this logic.Thank you for giving me time.

Dear experts

Could you please let me know the conceptual reasons of Reversal of DTA and DTL.

Thank you.

In a case where there is a Developer Agreement between owner of land and developer and the owner gets a certain share of the constructed building as his allocation then please give your opinion on the following matters -
1. How will the developer account for the owners allocation when the building is complete. I mean whether to pass any accounting entries, if so what.
2. The closing stock for the developer would be the developers allocation. Then the valuation of the developers allocation would be done considering the total construction cost/total constructed area or total construction cost/total developers allocation

Please send me income tax slab 2009-10.

Thanks

What does Arms length transaction mean?

i,need a chat of account

How we can take Agriculture Income amount in P&L & B/S ?

It create Difference by adding Agriculture Income with Profession or Business ?

Thanks in advance.

There are 3 companies for ex. A,B&C Ltd in which company X & Y are the stake holder (companyA X33% Y67%)(companyBX51%Y49%)companyC (X51%,Y49%). As a social cause & obligation to cater the needs of the people residing in the town ship a school was constructed. An agreement has ben entered by company C with the school management. The school was constructed by company C.
My query is whether the assets (ie) school building,furniture & others should be capitalised in the books of company c ;
if the cost of the fixed assets pertaining to the school are shared among the 3 spvs then how the fixed assets should be maintained;
whether all the 3 spvs could claim depreciation on the fixed assets

we have procured 610 chairs & the value of # 1chair is Rs2600/-. Total value is Rs 12 lakh. Whehter we have to charge 100% depreciation on the furnitures (or) depreciation should be charged on pro rata basis (ie) if the asets are getting capitalised on Nov 01, 2009 for that period. The companies act &IT act allows for 100% depreciation.
my query is whther depn is to be charged 100% on Nov 30, 2009 (or)depn on prorata basis.
reply at the earliest is requested.