is IPCC syllabus for may 16 is going to change....n if it is den what to study now...coz i rgstrd nw...n have institute sm n pm...n if it changes den.....plz suggest me wht to do.....hw to study.....

" In the current year(2014-15) we found that credit purchase of 2012-13 is overvalued by rs. 10800 and payment for the same was made.

The ledger of the party was closed during 2013-14.

now we have received back Rs. 10800 from the same party through the cheque."

The problem is that , how we can pass journal entry for rectification of error ??

Dear Experts

Can we take Depreciation as per Income Tax act in respect of non listed company (as the option given by either as per companies act or income tax is governed by old Companies Act 1956 ) as per new Companies Act 2013

Or its Mandatory to take depreciation as per new rates of new companies act 2013 not by income tax act 1961

& what are are consequences if any of non compliance with new rates & following income tax rates

Kindly guide me on this

does a company need to deduct tds on contractor on buying evening snacks every month from a store if the aggregate payment exceeds rs. 75000/-?
Also is 194c applicable on buying office stationery every month if the limit exceeds?

As per CAS 6, while determining material cost we deduct trade discount but why we do not deduct cash discount from total cost? watts the difference between these two?

explain deffered tax

dear expert :query on sec 234E;my client is govt deductor and submit Q4 etds for Fy 13-14 now received latter from ITD for late filling us 234E; deductor first time filling etds & having 24G lately from treasury; or opinion pls

sir for my last question you have answered if the incoterms are fob. what if it is cif based. one more query i wanted to know whether my client is liable for demurrages. but the bills will not be coming in this year.but this is important for us to keep provision. and does these demurrage should be added to cost of inventory.

sir thnks for your information and we are a pvt ltd company registered under the companies act 1956. including ten board of directors and most of them are objecting the issue of salary slips. so we stopped the issue. can we face any issues in future due to non issue of salary slips regards santhosh

sir, thank you for resolving my last query. I have a client manufacturing cement. they import coal. my query is should they recognize coal in their books of account as stock in transit for the coal which is on seas. if so can you please tell the accounting entries.