During the audit,I've found Afforestation expense of Rs.53,348/- was capitalized,in fact the client have no forest land.How shall this expenditure be treated,either capital or revenue?I've studied in AS-10,that if the afforestation was made in the forest land,then that expenditure will qualify as Capital Expenditure under AS-10.
Seeking clarification???

If the cost of asset is not determinable how to calculate depreciation as per schedule II of companies act 2013.

hi everyone after seeing may 15 accts paper i want to practice some extra questions apart from the study material and prac manual can any one recommend me a good book ? i have heard p c tulsian is a good book. is that correct?

dear experts,
I often confused with purchase entry

1. in case of cash purchase:-

(A) To Haaji traders (supplier)
by purchase a/c dr.
(being goods purchase)

(B) To cash a/c
Haaji traders
(being payment made to supplier)

or

(A) To Cash a/c
by purchase a/c
(being goods purchase in cash)

which one is correct out of two

pls someone confirm the new service tax rate and whether it is applicable from 1st june or not.

what would be advance entry in tally ?

I want to know whether there would be a change in accounting policies in complying with Schedule II and whether it will be disclosed as per AS 1 & AS 5.

We have purchased a Fixed Asset on FY 2013-14 for Rs.22000/- ( Laptop ).

In that year it is used for 233 days and depreciation is charged @ 40% for Rs.5618/-.

Now the opening Balance as on 01.04.2014 is Rs. 16382/-

So now as per companies act 2013 what is the correct amount of depreciation to be charges for financial year 2014-15.

What is Deferred Tax ?

Please help...

What will be the provison Entries passed for TDS Receivable,Outstanding Expense and Balance payable after the tax computation?