We paid self assesement Income tax for year
2013-14 , In oct 2014 . now how can make
paid tax entry in current year we completed
2013-14 audit. our firm is partnership we have
not made any tax provision in 2013-14 please
explain deeply

what are the duties and responsibilities of an accountant working in a manufacturing company and what should he maintain the books?

An entity is following the policy of deducting penalty if the delivery of the said goods is not received within stipulated time period.

Now should this be reduced from the cost of the asset or be treated as an indirect income?

Is it wise to first rewrite data of all Companies using Ctrl + Alt + R & ONLY AFTER THIS IS DONE , migrate the rewritten Data to Tally .ERP 9 from Tally 7.2 or should this be done ONLY if an Error gets displayed during the Normal Migration process ?

1.What will be journal entry if we can purchase the material on credit from X party of Rs 1000 + Excise duty 12.36% + VAT 5%

2.What will be journal entry if we can sale the material to Y party on credit of Rs 2000 + Excise duty 12.36% + VAT 5%

Waiting for feedback

Dear Sir/Madam,

In Last financial year i.e for 2013-14, my client has used the old depreciation rates and complied with the rates as prescribe in Companies Act.

But in current year i.e F.Y 14-15, they are not compiled with new rates as per Companies Act,2013.
Depreciation is charged as per old rates only i.e on SLM basis till September 2014.
System used by them is unable to give retrospective effect.

So how to find the correct depreciation?
And what would be the accounting treatment for the same?

Whether IFRS is applicable for CA-Final November 2015 Exam??
Please reply as soon as possible!!

Hi Experts, Need 1 clarification, i am asking query with help of an example so plz help me getting the right answer. A mobile company is selling a mobile at 60000 and suppose the cost of mobile is 45000 and cost of charger and lead is 1000. Whether COGS will be 45000 or 46000 ? as per me it Should be 46000. if possible plz share some details with answers. want to know the concept of sale of multiple items, if any one is doing it practically,then plz share ur experience. regards Sumit

Dear expert,
as per shareholders fund approach , capital employed means Total assets minus non trading assets minus miscellaneous expenditure and losses minus all outside liabilities.
IT has 2 shortcomings: which i m not able to understand
1. it ignores other long term funds in the business.
2. on the other hand , it considers preference share capital which bears fixed rate of dividend.
QUERY : PLEASE EXPLAIN SHORTCOMINGS OF THIS APPROACH..

Suppose X (UP) purchases goods from Y (Maharashtra) through Z (UP) via E-1 sale. Z charges in Bill Rs.100 from Y & Y, in turn, supplies the goods to X at Rs.150 (adding his margin).
My question is:
Rs. 100 is purchase of UP i.e same state.
Remaining amount of Rs. 50 is purchase from Y (Maharashtra) i.e. different state.
So, what will be the accounting entry for purchase of Rs. 150 ? Plz help.