we want to querry that , we are having one partnership unit and we want to setup a Unit-II in same name and same partnership structure.

Will these two units be assesed as one unit in income tax and all depriciation ,Fringe benefit Tax and exemptions will be calculated for combined entity .

is this right in poolin interest method in amalgamation that transferor have transfer reserve & surplus in his book to share holders as it is ultimately transfer to transfaree company and amalgamated in his books how could it be ?

what is entry in case of pre.shareholer should pass in transferor books in purchase & pooling interest methods.Is
this right in PIM method that in tranferor books we have to debited preference shares and credited preference shareholsers then pay it off from consideration received from the transferee company. what ? arises when pc does not includes it how could it be happen.

pls solve this.
as no.of time i usually see that purchase consideration includes payment to preference share holders also but as per AS-14 could it be right in sence no. of author used to this technique or only equity share holder are liable to receives P.C.

Hi,

If there was an error in the previous year’s Balance sheet in the debtors and creditors balance how to adjust in the current year. Basically the creditors are shown less than the actual creditors and the debtors are shown at a very high value. How to adjust in the current years balance sheet and give a double effect for the same?????????? I want a practical approach… please do tell me…

If one of the three partners retires, then under which head his creidt balance should be shown ? (1) Unsecured Loan (2) Current Liabilities. Please give the answer with reasons and considering the effects of Sections 269SS and 269T of Income Tax Act, 1961.

What is the difference between income & revenue

Would we show MAT credit recoverable in the balance sheet?
Please support your answer with reasons.

whether foreign exchange gain or loss arise on foreign exchange liability on fixed assets is debited or credited to p&l a/c or to fixed assets a/c.

Sir,

Is our liable to deduct tds on supply of tea by tea vendor to our factory staff & workers. His monthly bill around Rs.50000/-. Pls advise us.

Regards,

Baljinder Singh