Ours is a State Transport Corporation.
We are using Electronic Ticketing Machine for issue of Tickets to the Travelling public. This has an in built system for generation of tickets, invoices and other related documents. It has got an inbuilt program to update the data in the main computer so that other remittance, reconciliation, initialisation for subsequent use.

QUERY: What is the depreciation rate under i) Income Tax Act
ii)Companies Act.

Hi,

I am keeping book of A/c, I want to generate an entry systems where i am paying Lic premium. it should effect my Bank, Premium paid. Also keep a track of how much premium is paid for a Policy in total till date.

What are the entries should i do?

Can any one suggest the entries for this.

Thanks, and wiating for a reply.

ABC company is make investment RS 1000 crores in XYZ company and PQR is holding company of ABC
PQR merge it self XYZ so indirectly subsidary company get investment in subsidary company.
PLZ tel what entry required to pass in the book of ABC Ltd.

Hello Sir/Madam,

ARE THE FOLLOWING RELATED PARTY TRANSACTIONS as per AS-18:

Preliminary expenses incurred by the promoters of the new company, who after incorporation become directors and shareholders of the company.

Brokerage earned by a stock broking company due to trading of shares on NSE/BSE by its related parties on their own account.

Thanks & Regards,
Jyoti Baid

I want to know which Accounting Standard is applicable for recognising revenue in case of a Civil Contractor - AS 7 Construction Contracts, or AS 9 Revenue Recognition.

The individual is engaged in pure civil contract works, which includes, Painting, renovation, Repairing etc of Buildings, Flats, etc, and specifically does not include Construction, or Redevelopment projects.

Para 8.3 of AS7 mentions that
"Contracts for rendering of services which are directly related to the construction of assets" are to be classified as Construction.

The question that arises here, is that whether a Civil Contractor can be covered under AS7 on the basis of the above-mentioned grounds or not.

Please reply quickly, THANKS IN ADVANCE!!!

Dear all,I want to say that every listed company have to publish their report querterly & annual report. Is there any website where I can see this total financial reports of listed company ??

1.I have to pay salary to employess. but before that they have resigned and gone without taking salary. what i have to do in my books when payable is o/s for more than say 5years.

2. Bonus payable is outstanding for left employees(where they are no body knws) what i can do such amount in my accounts?

i have read somewhere that you have to tranfer to some govt account.

but i dont knw when we have to do? i mean time period. gimme details pls

What is the procedure to prepare accounts of a Power Transmission Company ? Also what are points to be considered while preparing books of Power Transmission Company ?

In Office we pay monthly salary and account once in a month and pay PF & ESI accordingly.

In FActory we pay weekly wages. In this case how to account wages for the particular month and calculate PF & ESI. Since for calculating PF & ESI calender month wage will be taken. Whereas payment will be based on weekly which will not exactly ends up by month end.

Advance thanks for clarification

Cheques become stale after the expiry of six months from the cheque date. The bank may dishonour the same and on confirmation from the drawer it can be paid.

However, i want to confirm the liability of the banker in case it makes payment against a stale cheque. Please mention the relevant section also.