Statutory Liability of Employer to enrol themselves for Provident Fund -minimum requirement of 10 empoployess or 20 employees.

hi....
I would like to know how to account for the food bought for directors in the afternoon? will it be staff welfare? will it be taxable in their hands?

I would also like to know the accounting entry for electricity bill reimbursed to directors for their apartment.

hi...

I would like to know the accounting entry for payment made through self cheque. Is the following entry correct?

Cash A/c Dr.
to Bank A/c

Expense A/c Dr.
to Cash A/c

We have to route it through bank A/c?

What Corporate Dividend Tax rate we should take for making provision for Coporate Dividend TAx i.e we should take Corporate Dividend Tax rate existing on the balance sheet date or rate existing on the date of signing of annual accounts?

HELLO EVERYONE,

DOES CAPITAL EMPLOYED AND NET ASSETS MEAN SAME.

IN FM CAPITAL EMPLOYED=ESC+PSC+R&S+LOAN FUNDS.

BUT IN ONE OF THE A/C'S PROBLEM THE CALCULATION CAPITAL EMPLOYED AS FOLLOWS.
(FA+CA-CREDITORS-DEBENTURES)

I DON'T KNOW WHY THEY DEDUCTED THE DEBENTURS??

PLEASE EXPLAIN???

abhipcc@rediffmail.com

Hi Sir,
In the financial year 2009-10 I had issued a cheque against unsecured loan by mistake while the loan was already cleared in 2008-09. The unsecured loan was of the sister of the capital holder. Now the account of the unsecured loan is showing debit. Now how can this be rectified? Can I show the chq issued as gift to the sister?. If not. then please tell me what is the provision for that?

I was given machinary to contractor but because of flood machinary was destroyed.
Details are given
Machinary cost 1.5cr in my books
contractor pay me 3 cr for new machinary.

How should I account these 3 crs.

Thanks in advance

Hi I am working in a firm, and dealing in the daily sale, purchase billing , sale tax and TDS. I want to know what is the threshold for deducting the tds on advertisement, rent and other sub contractors,.I entered the bill of amount 35000/- of the advertisment in April 2010 but did not deduct the tds. Plz tell me should I deduct the tds on that bill, if yes then what should I do now?

My Client being a Pvt ltd.Co. has purchased /acquired concurrently Plant & machinery (i.e.Furnace) along with Raw Material(i.e.Copper Scrap)from same place & loaded the same in to one truck.

In this regard it has incurred the following expenses as under
(i Transportation/Freight charges
(ii Packing charges
(iii Insurance charges

Now my query is whether these expenses can be capatilised proportinely to the concerned plant & machinery from the accounting point of view or not.

31/03/2010
part a/c dr 500*(48-45)
*foregn Ex gain /loss (C.L) 500*(48-45)

CA Shivang.

in the above entry i have credited foregn Ex gain /loss (Current .Liability) 500*(48-45)

but as per your suggested entry ie

Bank (40*46) dr
Loss on FOREX (40*2)
To party a/c/ debtor account (40*48)

*Ex gain /loss (Current .Liability) 500*(48-45)
this enry is not set off.

so please suggest

with regards

raaj