We are an IT co.
Our employees incur expenses for certain projects, which are reimbursable from our client.( these exp are viz, travel exp, visa exp, hotel exp,per diem etc)

In such cases :
a. can we raise a separate invoice on our client for reimbursable exp ? ( if yes, then whether service tax is applicable ?)
b. OR, can we raise a debit note on our client for the same ?

Also, how to keep a track on :
- exp incurred by employees,
- ensure that they are billed / raised a debit note on client &
- final receipt of those exp from client

( If possible, can someone provide me accounting entries for the same ? viz, if we need to raise invoice on client ?)

We are an IT co.
Our employees incur expenses for certain projects, which are reimbursable from our client.( these exp are viz, travel exp, visa exp, hotel exp,per diem etc)

In such cases :
a. can we raise a separate invoice on our client for reimbursable exp ? ( if yes, then whether service tax is applicable ?)
b. OR, can we raise a debit note on our client for the same ?

Also, how to keep a track on :
- exp incurred by employees,
- ensure that they are billed / raised a debit note on client &
- final receipt of those exp from client

( If possible, can someone provide me accounting entries for the same ? viz, if we need to raise invoice on client ?)

Whether AS6 applies to mines / ores or it has been excluded from the AS 6 purview by including it in "Wasting Assets"

hi,

Treatment of withholding Tax on Dividend received from shares for Investment companies as per IFRS

Can any body help me out for the following:

'A' is the Private Company has got Sub Contract for some work from the Main Contractor 'B".

For Executing the work The Main Contractor supplied some Plant & Machinery which is Purchased by the Main Contractor.

After Completion of the Work( Say after 5 years) all the Plant & Machinery will become the Subcontractor's (i.e A) Assets, for this The Main Contractor Deducting Principal and Interest amounts from the Running bills raised by the Subcontractor.

here are some observations:-

1). The Invoices of the Plant & Machinery which is supplied by the Main Contractor still in the name of the Main Contractor.

2). The Ownership of the Assets also not transferred

My query is :-

What is the Accountability treatment of Principal and Interest Payments and what about the applicability of the Depreciation.

Whether any TDS will Applicable for the above transactions.

Hai to all,

There is a pvt ltd company called "s" which is holding compny of "T".T purchased a company called "A" which is a listed compnay.

My doubt is Accounting Standard 21 will applicablt to "s"?

What is creiteria for applicability of AS 21?

A client is using Tally 9.0 licensed version.He is in business of Trading of goods.He has purchased sold some shares in current year purchased before 2-3yrs and also sold shares purchased before 6 months.

In the above case entries are made in Tally9.0 but now for Income Tax purpose how to differentiate the Short Term Capital Gains and Long Term Capital Gains?

What is actual sales, purchase, aaccounting procedure in step wise how can i get this, can some can help me this. i want this for Standard procedure to be carried out in a company

Sir,

Thanks for expert for answering my query.

I have to pay current premium amount For Rs.29504, Service Tax on Premium amount Rs.3611 and total is Rs.33115 to Reliance General insurance. Insurance Policy covered up to 26.04.2007 to 25.04.2008. I want to know that what will be Prepaid insurance and what Journal Entry will be passed in the book. my financial year is 2007-08. Service tax input can avail on insurance or not.
Thanks SIr.

my client business of garments.consignment purchase of garment amount 300000/- from delhi. my client shop in varanasi .what accounting in the book.pls ans