In case of Pvt Ltd Co.,Our client have received certain Advances in foreign currency & converted the same in Indian Currency in our books against export of Goods to overseas Buyers.However such export orders have been cancelled & accordingly forfeit the same & considered our income.
Now query is whether this is correct so far FEMA is concerned & if correct then in which accounting Head the same has to be shown as income.

For your Kind information my client has credited to Sundry Balances W/off Account.

As the amount involved is in nearly 5 Lakhs
so what has to be followed as per accounting concept.

My question is cash payment is not allowed more than Rs. 20,000/- or Rs. 20,000/- and more than Rs. 20,000/-. It is allowed to make payment to same party more than Rs. 20,000/- on a single day or it is also allowed on cash expenses made by party on single day not be exceed Rs. 20000/-. If salary paid in cash and amount exceed Rs. 20,000/-, So this expenses is allowed or not. If not than what should be done in the case of salary

"I have a Invoice, I which our company purchased some Computer Equipment of
both Capital in nature and Revenue in nature.

The Invoice is with VAT & discount.

Should I will first bifurcate the revenue and capital expenses including VAT after
that I will account the same ?

How i will treat the total amount of discount on the Invoice ?

Please help.
"

I want to know if general reserve account ,dividend equalisation reserve and all reserves belong to which category of accounts

Complying with depreciation as per Schedule-II is either change in accounting policy or change in accounting estimates.
Bcoz if it is change in acc policy then it will have RETROSPECTIVE effect otherwise in later case it will have PROSPECTIVE Effect means we dont hv to calculate difference between actual dep. charged and to be charged as per new sch. II.

Pls give opinion for assisting me.

dear sir ,tally9 data corrupted it says internal error and if i copy paste data still not get recovered . then in this situation how to get data ?

One of my client is a dealer of FMCG product. Sometimes dealer has to sell product at below selling price due to various schemes offered by company to end customer. Company reimburses dealer, the difference in sales price and actual price at which dealer sells product to customer by issuing credit note.

How should I account this transaction ?
Should I treat Reimbursement amount as my income and credit it to P&L and debit it to Company's A/c

Company A/c Dr
To reimbursement Account

can anyone post tds amendments applicable for ay 15-16

What kind of expenses is revenue stamp? Is it legal expenses or printing and stationery expenses?

Please suggest me

A service rendering company provides services to its Associated company, since the fees receivable from the associated company is on the condition that if loan is approve by bank then rendering company will receive the fees. In such a case how will the such expenses incurred be treated as pre-operative or as routine expenses?
plz reply its urgent