If a Indian company is having Foreign Non-Integral Subsidary then at the time of conversion into indian currency all asset including Share capital and investment of foregin subidary into his subsidary is also need to convert at closing rate.

In one of our clints accounts cash in hand on some particulars days are very much.

He is asking how to adjust that excess cash

So plz kindly suggest me the appropriate n practical ways to do it!!

A & COMPANY STARTED CONSTRUCTION OF A PROJECT IN APRIL 2008.TYhe Expenses for the period 2008-09 is Rs 10Lakhs.Howevever construction was completed in January 2010.Advances From Customer was Rs 15 Lakhs.So How Will I chart out the profit & loss and balance sheet for the period of 2008-09

Q1.for a person filling ITR-4 as professional(he is a salesman),can he claim vehicle loan , EMI as deduction from his income? if yes , on which side of balance sheet or profit and loss a/c will it appear?

Q2.he has vehicle on his own name for which he has fully paid his vehicle loan EMI on which side of balance sheet will this appear?

We are a corporate entity belonging in dairy sector. Sometime when a scheme is in operation, on achievement of some target fixed, the distributors/retailers are given performance incentive. Can we classify this as "sales promotion" of expense in nature while booking the expense in accounts? what is your valued suggestion.

Hi All

I need a dep. rate .

ONE OF MY CLINT IS HAVING SOME BUSINESS FOR WHICH EVERY CUSTOMER NEEDS TO REGISTER ON HIS WEB SITE FOR WHICH HE IS CHARGING 2500/-, WHETHER THAT 2500/- WILL BE CREDITED TO P&L A/C AND TAKEN AS HIS INCOME OR NOT.

Dear sir,


Some one told me that vehicle loan taken from bank suhould be shown under the HEAD UNSECURED LOAN NOT UNDER SECURED LOAN AS PER SCHEDULE VI IN THE COMAPNY BALANCE SHEET

PLS LET ME KNOW WHAT IS CORRECT

Hello, please answer the following
Payment to creditors will result in---
A) Sources of funds
B) Application of funds
C) No impact on funds

please explain

i think that the answer is - application of funds
but in icwai suggested answers-june 2002 the answer is - no impact on funds

please clarify
thanking you

I HAVE A CONSTRUCTION COMPANY.I GET ADVANCES FROM MY CUSTOMERS.IS IT MY SALE AT THE END OF THE YEAR OR IT IS CONSIDERED AS MY CURRENT LIABILITY AS ADVANCE FROM CUSTOMER