RAKESH kumar
01 December 2009 at 10:28

about sale of scarp

dear sir

a firm have Vat number of Trading concern.
but he know manufacturing products and scarp sale of iron.


if trader make scrap sale of iron then tcs is to deudted or not under income tax act because seller is Trdaer.

plz reply.
.......................\


Subrahmanyam
29 November 2009 at 17:22

AS-28

What is meant by "Bottom-up" & "Top-Down" approach as per AS 28.


Subrahmanyam
29 November 2009 at 17:15

IPO expenses

What is the accounting treatment for IPO expenses?


CA. Rishabh Mittal
29 November 2009 at 01:34

AS 26, AS 22, Income Tax, Companies Act

Company has incurred preliminary exp & also have the balance in securities premium a/c.
If preliminary exp are written off from balance in Securities Premium A/c, then what would be the scenario from Income Tax point of view, as preliminary exp are not debited to P&L A/c. Are they still allowed to be written off as 1/5 in income tax act. (In my opinion, it should be... please clarify, what experts think of ?)

Again what would be the scenario from AS 22 point of view as this will be treated as permanent of temporary difference. (In my opinion, it should be permanent diff & no deffered tax should be recognized... please clarify, what experts think of ?)


CA. Jyoti Baid
28 November 2009 at 20:17

prepaid exps

Respected all,

The bill of maintenance expenses shows Rs. 10000 as gross amount, Rs. 1000 as Service tax, Rs.1200 as VAT. Total- Rs.12200 for the period Dec,09 to Dec,10.

The company doesnot take Cenvat Credit OR VAT input credit.

So, prepaid expenses will be calculated on Rs. 10,000 or Rs. 12200 for the period April,10 to Dec,10.

Regards,
Jyoti


Nandanan
28 November 2009 at 18:20

Journal entry for issuing Gift vouchers

How to post the journal entry/voucher when the company issues any Gift Vouchers for free to somebody. The gift vouchers will be redeemed later while sales. How to post JV while issuing the Gift voucher and while redeeming it.


Yajuvendra Rawat
28 November 2009 at 16:01

Fixed Assets

Dear Friends,
In our company three cars were purchased & fitted with a CNG kit. Expenses for conversion into CNG were debited to the Fixed Asset itself. I have heard that a car engine running on petrol has a longer life as compared to engine running on a CNG. Since we are following W.D.V. method with a fixed rate every year, is it possible for us & our management to shift the current rates to higher rates for the above given cars. Can these have a higher rate of depreciation than the normal ones. Please help me on this


jyothsna
28 November 2009 at 09:58

FINNANCIAL ACCOUNTING

1. WHAT IS THE DIFFERENCE BETWEEN SALES,TURNOVER,AND REVENUE?
2. WHAT IS NEGATIVE INCOME?
3. WHAT IS THE DIFFERENCE BETWEEN BILLS RECEIVABLE AND DEBTORS?
4. WHAT IS ESCRO ACCOUNTS?


Yajuvendra Rawat
27 November 2009 at 23:29

Trademarks & Patents

Dear Friends,

After registering a Trademark how will i write it off from my books of accounts. Normally Trademarks are registered for 10 years as per the rule, after 10 years it has to be renewed, but in books of account till what period it can be reflected & how will it be amortized.If i want a trademark or a patent to be for 5 or 6 years in my books can i do it, what will be the depreciation or amortisation rate on it. Please help me



Anonymous
27 November 2009 at 18:02

PF Trust

One of our client as Pvt PF trust , where they put all there employees PF amount in that and then PF Trust invest that PF amount collected by the compnay from there employees in market, is there any option that out client can declare ZERO interest for FY 2008-2009 as market was week ,
if yes what is the section and clause.






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