Dear Sir,

Last year (2009-10) We have Purchased machinery. and taken the 50% credit of cenvat.
and now can we will claim for depreciation on the same ?

Pls help.

Thanks & Regards,

Rajendra Ahire

My firm is a partnership firm.the partners of the firm take salary and also withdraw amount in the way of Credit Card Expenses & Transferd to saving ac.while finalisation their capital is debit bal.

While filing their personal Income tax return can I prepair their Personal Ac Can i Pass all Dr. to their Presonal Expenses & Credit Firm ac.

Eg: Credit Card:(Shopping Done)
Drawings Dr
Firm Cr
is it right way of accounting.

The partners have purchased car,made some fds,Mutual funds. This should be shown in their personal ac the purchas are in their Individual name.


Please guild me so that i can maintain their Personal Ac in Tally or should not maintain

Regards

One of our party is doing jobwork for stitchin of bags (Packing purpose), in this jobwork part of material supplied by us and part of material provide by him and bills not making seprately for material and jobwork. and also his bills not in proper format & not contain PAN details.
Here should be deducted TDS or not ? How many percentage

One of our labour contractor claiming service tax & PF on company.What's the treatment in accounts.
Is here service tax & PF amount treat seperatly if yes in which under group (Expense or Liability)

Does interest accrues but not due on FD will be taken as cash & cash Equivalent while preparing cash flow statement

Higher inventory turnover is most beneficial or lower is better. Ex: Company A has ITR=10 Company B has ITR=12 which company is better.

the public sector undertaking has received government grant for capital expenditure which has to be treated as deffered revenue as per AS12. then where to show it in the balance sheet. whether it can be shown under the head 'reserves and surplus' or to show it separately after reserves and surplus and before secured loans as recommended in AS12 in which case is it acceptable as per schedule IV of the companies Act. kindly clarify.

i have purchase one machinery in 25th march and book under purchase account.
at 31st march the machine laying at stores and a part of closing stock of stock of spare .

machinery shown in closing stock or capital wip ?
which is right

fixed assets held for disposal are to be shown under which head? plz specify it

consumption entry is passed for WIP and FG production. what amount will be included in these heads? will it include only cost of materials consumed or share of labour cost and overheads?