If Basic Salary is 10000p.m. and employee has taken 5 leaves during the month for which salary is to be deducted then whether PF would be calculated on actual salary or gross salary?

Dear All,

I am a B.Com Graduate working in Dubai as an Accountant,I have small confusion about salaries,here in Dubai there is a tax free salaries what are the entries for this salaries, in my company there is only staff insurance.My company is paying 11% insurance as company share and 9% as employee share.The 9% deducting from employee salaries of local(National).what is the enttries for salaries and after paying salaries,what is the entries for insurance.

I hope my request is a favourable considered.

Thanks & Regards

please tell me Difference beetwin extraordinary items and Exceptional items with examples for both

Thanks you

Prashant

I just wanted to know whether the Tax Audit of the Company needs to be conducted by the same Statutory Auditor of the Company?

Is there any professional code of conduct saying that the Tax Auditor & Statutory Auditor for a Company should be one and the same.

Kindly clarify

what is the basic difference between loans & advances and loans & advances (assets).... i always get confuse in these terms..plz explain me

A LLP new launch company we renovation office & kitchen charges paid chq. of rs.20,00,000/-i want this amt.convert to capital(Assets) so witch entry pass in tally.
its urgent.


Thanks & Regards
Pradeep Nalawade

Sir,
Imported Fixed Assets is accounted on the date of purchase @ prevailing currency rate on that date.
Later when payment is made in For ex.,the converted amount in Rupees differs.
Please let us know,that exchange difference is to credited/debited to Profit & Loss account or to the concerned asset itself.
Thanks
Siva

How loss on derivatives is to be shown in the revised Schedule VI?

A FIRM HAS INSTALLED ITS MACHINERY IN THE MONTH OF FEBRUARY 2012, AND STARTED MANUFACTURING ONLY IN THE MONTH OF MAY 2012.

I WOULD LIKE TO KNOW, WHETHER THEY COULD EXEMPT THEMSELVES FROM CHARGING DEPRECIATION FOR THE FINANCIAL YEAR 2011-12, AS IT WOULD LEAD TO INITIAL LOSSES.

DO SUGGEST WITH VALUABLE OPINION

ass year 2011-12
sir
i have a home in surat on paper value amount of 596000/- on date (1.4.10)
i sold my home (on date 15.1.2011) to another party by payment amount of 1411000/-
how can i book profit in my personal account and should i have to pay capital gain. yes or no ????
because of i have purchase another home on date (9.9.10)in same year and same city on paper value 328160/- incl of stamp duty and registration fees.
please tell me account entry of such transaction
i am confused please help me !!!!!!