a limited company received a bill for 2500000 in the month of august 09 in respect of contract expense relating to may09 but the company recognise the bill in the month of december 09 and deduct tds .the contention of the co. is that it has received the bill in december . so it has booked the bill in december and deducted tds. whether the company is right in booking the bill at the time of receiving the same. if the company is right please give reference.

What will be the treat ment of revaluation reserve on land?

when revaluation reserve can be write off?

Hi Sir,
IF WE PURCHASE FUEL FOR THE GENERATOR BEING USED AT THE OFFICE PREMISES AS ELECTRIC EQUIPMENT, THEN WHICH A/C WILL BE DEBITED.

How much expenditure one can putr under mis. expenses head?

for co there is a rule as per co's Act but what abt other concern such as partner ship firm and all like that other than co?

whether deffered revenue expenditure is considered for the creation of DTA/DTL during the year?

Partners on starting a firm, instead of depositing cash to office account, spent money themselves for office exps. Now while writing account, are we to mention that they have deposited cash or can we credit expenditre and debit, partners capital account directly. In this way, we can reduce some entries. Kindly guide.

Dear Sir,

A Prop. has purchased Land.The Land is Capitalized in FY 2009-10.In April he Has paid Grampanchyat Dues say about 60,000.00

What Should we the Account head for Such type of Expenses.what entry should i Pass in Books of Accounts

Regards

Dear All,
Kindly give some idea on Input VAT Credit and Cenvat Credit in case of VAT, Excise Duty, Service Tax.

sir,
how to treat accounting entries for super stockist/sub-stockist of mobile phones easy recharges and pre-paid coupons.
1.One super stockist of mobile phones easy recharge purchase easy recharge of mobile currency from bharati airtel ltd. through transfer of balance to the company against RTGS, after getting the stock to his mobile phone,this balance transferred to his sub stockists through his mobile phone. For this he would get 4.5% commission from the company and for such commission he would pass 3.5% commission to his sub stockist. Whether this transaction treated as purchase/sale transaction or net commission transaction.
2. similarly the super stockist bought pre-paid coupons of mobile currency from the company against RTGS, and the stock will receive through courier services, for this he would get some commission. such stock he would resale to his sub-stockist, and give some commission.

How to treat these type of transactions in the financial statements. If they treat these transactions as trading transactions his turnover will cross over 10 crores or more. But he will get only 1% or less commission for such transactions.

earlier company was unlisted company,in the p.y company has listed in stock exchange.so listing fees paid to stock exchange,
so how to record this expenditure. whether it is debited as a preliminary exp or revenue exp