What is capital redemption reserve?

Dear Sir,

Kindly clarify following queries regarding SFIS.

1)At the time of Purchase of Assets or Spares Custom duty debited to Assets or Material Purchase now I have a question at the time of availing SFIS credit which account should be debited for availing the SFIS Credit.

2)I have already created SFIS receivable provision in the books.

3)If at the time of purchase I have debited to Assets than availing of credit should be credited to Assets account ?
4) If at the time of purchase I have debited to Material purchase than availing of credit should be credited to Material purchase account ?

Above issues related to accounting OF SFIS credit receivable and avail of credit.

Regards,
Akbar Saudagar

In my office I do all accounts on cash basis i.e. all payments of Dec to be paid at Jan and I make entry in Jan. But now I was told that all expenses for the month of Dec to be taken in Dec as Outstanding and then it is provided in Jan. So according to office Rent for Dec to be accounted for like:

Dec
Rent A/c...............Dr
To Outstanding Rent A/c

Jan
Outstanding Rent A/c
To Bank

I told office that I'd make this provisional entry in March. Then I was told to be confirmed whether taking all outstanding provisions in March only is correct process or not. So Please advise whether my accounting process is correct or wrong? Should I make all outstanding provision every month or only March is enough?

A bank loan of rs50000 against debtors is under negotiation.

I was allotted PF account number from company and I avail PF deduction. But now from accounts department I came to know that the account number to which they were depositing amount has somebody else name and that person had worked for about 2 months. They are giving reason that error is from EPF Office and now they are saying I need to go to PF consultant to resolve it and accounts department will give all the necessary documents. First, I want to know the procedure and documents to change the name of the PF account and replace that person name with mine. and second, it this not the duty of Accounts department. Please, reply with resolution as soon as possible. Thanks

I want to Do C.A. pls give me the brief of what kind of work a C.A. does and Also pls tell me that someone told me that a C.A. cannot earn more than 1.5 lakhs per month in India . IS IT TRUE ????

After completion of a Project, there will be a post project maintenance period. Say for Example 1 year free maintenance. During this Period the Company spends some money for Materials, Labour and Other Maintenance Exp. My question is, are these expenses belongs to the project or General Repairs and Maintenance Exp.? If it is a Project Expenses where and how to account it? Could anyone give me a detailed explanation?

my company purchased 3 room heater of 4355 each..kindly let me know the accounting treatment..

We have some imported goods. and the question is whether to apply exchange rate as per rate specified by RBI or as per rate specified Bill of entry. Kindly specify the provision and Act if possible.

Thank you

Dear,

My Boss has paid a deposit of amount of Rs. 60,000.00 while entering into a Rental agreement (Commercial Property).

How should I treat this. What Should be this entry.