Hi everybody,
Thanks for answering in advance.

I wish to understand the logic behind using normal tax rates for creating deferred tax liability.

Why not create DTL at MAT rates, since MAt is the effective current tax. Thnaks a lot

While making a payment in cash, Over how much amount a revenue stamp has to fixed and sign across..?

How much time spend for clearing of other state cheque and how many charge for clearing it. If cheque is dishonor from any cause then how many expense deduct for it.plz give ans. with example.

DEAR SIR
I HAVE PROBLEM WITH ONE SUPPLIER, I WANT TO PAY FOR HIM RS.20,000/- AGANIST ON PROJECT (AND I PAID RS.15,000/-) BALANCE RS.5,000/-
ENTRY (30/11/10)
OPERATING EXP DR 20,000/-
TO
SUPPLIER 20,000/-
AS ON 31/01/11
NOW THE PROBLEM IS THAT THEY NO NEED FROM US RS.5,000/-(THEY MAKE DISCOUNT) AND WE WANT TO CLOSE THEIR A/C (OPER EXP ALREADY CLOSED ON 31/12/10 NOW WE DON’T HAVE THIS)
ENTRY
SUPPLIER DR 5000/-
TO
CR (WHAT)
PLEASE HELP ME

Please tell me who/what are included in Preferential creditors ?

I want to know about what is Firm underwriting how we deal it in underwriting commission its full accounting procedure and effect in simple language.

Thanks in advance.

Coaching classes charging Fees as follows for the course to be started in sept 2011 :
Admission fees : 10000 & tuition fees : 50000

Student takes admission on 1/3/11 & pays admission fees Rs. 10,000/-

Balance tuition fees is payable by August 2011.


Please let me know whether in the financial year 2010-2011 whether tuition fees to be recognise as income? if yes why?

Suppose company A is the holding company of 4 companies b,c,d & e. Co. A is in EPC business and co. b,c,d & e does build operate and transfer(BOT) projects. total turover of A includes 20% external contracts and rest 80% from its subsidiaries. subsidiries give the construction of assets contract to A.

On consolidation how should intra group transactions be eliminated? Intra group transactions includes turnover in the books of A which are capitalised in the books of subsidiaries.

Please suggest the consolidation procedure for elimination of intra group transactions.

A newly constituted partnership firm is purchasing a franchise.How to account the same inorder to get income tax benefits. whether to charge it as goodwill or asset. If goodwill can we charge 25% depreciation as goodwill is treated as intangible asset in AS 26 or to be charged under fixed asset or priliminary expenditure. Can anyone give detailed notes.

Dear Experts,

ours is a pvt ltd company, we have paid stamp duty in the form of franking amounted to Rs.1,10,000/- towards Mortgage & Hypothication of plant & machinery in favour of bank.

What will be the ledger head