Dear Sirs,

What will happen to a firm where AS 22 does not applies and rates of depriciation is different in case of Companies Act1956 & Income tax act?

In his consolidated Accounts which depriciation to be charged, Companies act rate or rate of depn as per I.T act?

Thanking You.

Sultan

Hi all,

I have query about Foriegn Exchange effect under AS11
what is the effect under AS11, when we make advance payment to foreign vendor aginst import of material and balance upon material received.

is there any different treatment for the revenue profit and capital profit earned on the sale of the fixed asset?
since from begining it is taught to us to take entire profit to P&L so so is that not applicable of revenue and capital profit ?

OUR COMPANY HAS PURCHASED MATERIALS FROM RELIANCE INDUSTRIES LTD (RIL) THROUGH DEL CREDRE AGENT (DCA). BILL IS MADE IN THE NAME OF COMPANY. HOWEVER, PAYMENT IS MADE TO RIL THROUGH DCA. NO COMMISSION OR OTHER PAYMENT IS MADE TO DCA BY US. THE WHOLE TIME DIRECTOR IS SAME IN BOTH THE COMPANY I.E. DCA AND OUR COMPANY (KMP IS SAME). THE TRANSACTION IS RELATED PARTY TRANSACTION OR NOT. (PLS GIVE EXPLANATION)

I have paid in 2012 advances to my vendor last year for supplying of materials.But the material has not yet been supplied by vendor till the end of the year 2012.

Can i restate the amount paid in closing foreign currency rate for closing my books of accounts for the year ended March 2012.

Dear Experts i need the help urgently.

Dear Sir/Madam,

I,m working in a private limited company is it mandatory for all companies to deduct PT from employee salary.

If yes, where should we deposit it? will we have to do any registration for it?

Is there any formula(slab arangement) for deduction of PT.

Kindly revert soon.

Regards,

Mangish.

provision for gratutity admissable expenses

i purchased a crane to give it on hire. Full payment of the crane has been made by my father from his own account. now how should i account for this crane in my books of accounts? I m a proprietor and have no other business.

hello sir/mam, which is the most helpful reference book for practicing numericals on AS-accounts (CA final)? thanx in advance.

Hello Sir,
I want to know which ratios banks consider for sanctioning Cash Credit Limit and what are the standards for those ratios.