can anybody give me some material on how to account for following type of business

I shall construct the flats and give 50 % ownership of flats to the land owner. ie Land Development Business

How should I do accounting of such Business??

i am paying rs 800 as conveyance allowance to my staff. can i give rs 2500 as petrol,mobile expenses,etc in travalling and conveyance expenses

Hello Professionals,

If a Company is under loss from date of incorporation for Ex: Incorporation on 02/10/2006 to 31/03/2010.

Only in the F Y 11-12 company earned profit.

Still now they did n't disclosed in Financial Statement Deferred Tax. But now.


Is it necessary calculate deferred tax?

If they want to disclose. They have calculate only for Profit period or from date of incorporation?

Regards,

Vijay M R

what is the Accounting treatment of goods received free of cost? is there any complication as per any law?

Sir,
If we receive Payment in mode of Gift Voucher
from Debtor in which account we should post.

The Submission of Audit Report and Balance Sheet is not reqd alongwith the Return of Income

If it happens that the Audit U/S 44AB has been done in time and the Audit report is also obtained in time but the return is not filed on due date.

What will be position as regards to Penalties with I.Tax for non filing on due date.

Facts :
1]Registered Trust
2] Having Corpus of Rs.5 lakh
3} Opening Accumulated Income over Expenditure 4.5 Lakhs
4] Amount spent Rs.10 lakhs for valid purpose during the year.

Query:
1] How to give treatment for the excess expenditure over income.? Whether we have to reduce the Corpus or show "Excess of Expenditure over Income" In Balance sheet.

My one friend told me that A/C'ing is a Language, but i am confused with this statement.

I think it is the method of representing financial Data and enable the users to frame their decisions on such represented evalution like math and science....

what are your comments for the same

I would like to know that:
We have taken a loan to construct a building for business. It gets completed in 11 months. Since it is not a qualifying asset, where do we show the interest on loan for the 11 months period?


Thanks

Neeraj Khurana

Dear Sir,

Pls guied me that new making washroom TILES exp which account head will debit.


Regards,

Rahul Kumar Mehra