I have a query regrading applicability of IND AS .
A company which is listed outside india having indian subsidiary which is not listed and also net worth is less than 500 crore than indian subsidiary is required to make the financial statements as per IND AS on the basis of parent company which is listed outside india.

What is the difference between Capital work-in-progress and WIP as an inventory. AS-2 is not applicable on WIP arising under construction contracts. Also, Inventory valuation is not prescribed under AS-7. So, does it mean that, WIP inventory doesn't arise under construction contract. If that is not the case, then how do we value inventory arising construction contract ? Please if someone could elucidate with a good example .

Sir I am manufacturing furniture and sale with in punjab. and my sale in 2016- 17 of rs. 40 and and now I have closing stock of rs.15 lac now I am want to opt composition scheme. can I opt composition scheme if yes than status of closing stock tax

Dear Sir,

Whether stand by equipment which is ready to use but not in use can be capitalized under Ind AS 16 or not.

Is there any requirement of writing a note in notes to financial statements with respect to Revaluation of assets in the years subsequent to revaluation ? If Yes, what is the note to be written ?

In the b/s of march 16 an autosweep a/c was not shown but during the p.y 16-17 its closure are received and interest is also received during the year and tds is also deducted on it.
Plz tell me how its accounting would be done now??
M not having the previous year data.

Transmission amount received in tally under which Head?

MY DJB BILL 5000/-, At the time of expense booking i booked below entry. Please tell me is it ok or not and how to treat with DJB A/C

Please reply fast

water expenses --dr
water expenses payable --cr

If i have sold an asset during the year 2015-16. Then while preparing Depreciation chart for Balance Sheet for the year 2016-17 purpose whether to show Gross Value and Accumulated Depreciation of such asset?Ultimately showing nil value of such asset just asking way of presentation

Dear Sir/Madam,

we are paying monthly rent 50400/- & Invoice amount on Rent is 55,000/-(Including Service Tax),we are deducting TDS 4800/-,Basic Amount 48000/- & Service Tax 7500/- how can i pass journal entry in Tally.