What are the rules for transfering profits to General Reserves other than the mandatory transfer in case of Dividends.

For all purposes, is the balance of Profit & Loss A/c in Shareholders Equity to be treated on par with General Reserves?

dear all aspirants

kindly suggest on GIT matters.

Thanks

One of my client has given Performance Bank Gurantee of Rs.115000/- to supplier in year 2000-01 taken from Bank against which the bank has taken 10% margin in the form of FDR i.e. Rs.11500/- Now in books still is standing.I asked the reason from my client then he explained to me that the Original Bank gurantee was not returned till date from supplier as the same was lost from them till the bank is not ready to realise the said FDR. now what to do in books to remove this entry after keeping in mind accounting concept & also from taxation point of view.

Please reply urgently & thanks in advance.

Kindly let me know under following two conditions whether dedcution of TDS applicable or no tax is deductible under both the conditions
1. Sweets purchased in bulk for distribution to employees in ordinary pack
2. Sweets purchased in bulk for distribution to employees in a pack, with advertisement message of the company

thanks

My Friend Started a chit fund Can anyone say
What Should be the Accounting Policy ?
What should be the Revenue Recongnition ?

Chit Fund take 3 year to Complete ?

Dear Experts,
This is the first year where AS-22 Accounting for Taxes on income is going to be applied.
Fortunately i have been able to zero in the amount of difference. That is due to a provisional payment as per S.43B, which comes around 1 lakh.
It will be greatful for me if anyone can help me dealing in the following points.
1) How much amount i have to debit or credit in P&L account as Tax Expense or Tax Income.?
2) What is the entry to be passed in the above case?
3) How much amount i have to show it in Balance Sheet whether as Deferred Tax Asset or Deferred Tax Liability?
4) What is the entry to be passed in the above case?
Please explain me in detail...
With regards,
Rajesh.

hello experts,

can u please tell me the difference b/w merger,amalgamation,aquisition and absorption.


THANKS

PLEASE REPLY.

please tell me what is meant by intrinsic value of shares and par value and nominal value.or please tell me difference among them.

There are two methods in amalgamation for calculating purchase consideration i.e Net Asset Method And Payment Method .

Can u please tell me which method is used in pooling of interest method and in purchase method?

and

Are the pc in both the methods same?

We r paying salary to our employee as under mentioned structure:

BASIC 5000/-
HRA 2000/-
CONVEYANCE 1000/-

IF I MADE ENTRY FOR ABOVE PAID SALARY AS UNDER IS IT OK FOR I.TAX POINT OF VIEW


SALARY DR. 8000/-

SALARY EXPENSE PAYABLE CR. 8000/-

SALARY EXPENSE PAYABLE DR. 8000/-

BANK CR. 8000/-