Dear Sir,
Please Tell me what is rate of Intrest on CC Limit and Over Draft .

One of my client wrongly charged the loss on sale of flat to profit & loss account ignoring advances received for sale of flat as a result of this a loss of Rs. 23 lacs has been booked.

But now this year the same has been rectified and because of this only a loss of Rs. 1.80 lacs is arrived.

My question is whether i should book a profit by passing entry (prior period item) or i may change the previous year audited figures by showing a loss of Rs. 1.80 Lacs.

IN BALANCE SHEET ABSTRACT AND COMPANY BGENERAL BUSINESS PROFILE ITC CODES FOR PRINCIPAL PRODUCTS / SERVICES ARE REQUIRED TO BE DISCLOSED.

WHAT IS ITC CODE? WHERE CAN I GET THE CODES FOR SERVCIES LIKE TRAVEL?

RO systems, generator, watercooler, fire extinguisher, fax machine, mobile
what is depriciation rate applicable?

Hi Expert,
Pls give an example of depreciation entry that is passed during finalisation?

thnx
kirti.

ACCOUNTING ENTRIES TO BE PASSED IN THE BOOKS OF DEMERGER COMPANY AND RESULTANT COMPANY
AS ON APPOINTMENT DATE

BUSINESS CONDUCTED B/W APPOINTED DATE AND EFFECTIVE DATE SO ENTRY JOURNALISE FOR THAT.

ITS URGENT LET ME KNOW ASAP

plz tell me complete accounting treatment about tds,what is the best closing entry of this

Dear Experts,
This is the third time i am putting this query still not replied sir. It will be great if the experts reply me for this question.
If a firm purchases fixed assets such as
(1) Plant & Machinery
(2) Furniture & Fittings
(3) Wind Mill
(4) Vehicles
Will the firm be eligible to take Input Tax Credit on the VAT paid on all these fixed assets or only on Plant & Machinery.
VAT provisions are applicable as per Tamil Nadu state's act.
Please provide me the link or quote the section (under Income Tax Act or respective VAT act) based on which i should take or not take input tax credit on the above items.
Your help is highly appreciated.
With regards,
Rajesh.

Hello,
What is the nature of these two expense A/cs? I mean what kind of expenses are debited to these accounts?
1. Rates & Taxes
2. Fees & Stamps (does it include postal & agreement related stamps?)

thank you.

DEMERGER IS APPROVED BY HIGH COURT. APPROVAL IS GRANTED IN OCT 09 AND APPOINTED DATE IS 1/04/2009. NOW ENTRY FOR DEMERGER IN THE BOOKS OF DEMERGED COMPANY TO BE PASSED IN THE M/O OCT WHEN APPROVAL GRANTED OR IN BACK DATE ON APPOINTED DATE AND BALANCE TO BE TAKEN FOR ASSETS AND LIABILITIES STANDING IN BOOKS ON APPOINTED DATE OR APPROVAL DATE. IF APPOINTED DATE THAN WHAT TREATMENT FOR TRANSACTIONS DONE B/W PERIOD APRIL TO OCTBER. SEPARETE JV NEED TO BE PASSED. WHAT SHOULD BE DONE.
KINDLY LET ME KNOW ASAP
I WILL REALLY BE OBLIGED.