Co. A constructed floating dock for Rs. X.
Funding was done through bank financing and hence the dock was pledged in favour of the bank.

Immediately after construction of the dock, Co. A gives dock on 20 years lease to co. B for Rs.X (being the full amount of its construction cost).

As per the terms of the lease agreement, Co. B has right to extend the lease for such further period as mutually agreed, but not less than 3 years.


- How should Co. B account for the above lease transaction?

- Will the treatment differ if Co. A has shown the dock as its fixed Asset in its balance sheet?

- Will the treatment differ if Co. A owns 30% shareholding in Co. B?

I AM WORKING IN A MANUFACTURING CONCERN WHO FOR THEIR BUSINESS PURPOSES DELIVERED GOODS(STOCK) FROM GODOWN LOCATED AT KOLKATA TO VARIOUS DESTINATION LIKE PATNA,GUWAHATI ORISSA ETC THROUGH REGISTERED TRANSPORTER BY ROAD.
TRNASPORTER RAISED BILLS ON THAT FORTNIGHTLY BASIS SOMETIMES RAISED BILLS FOR 2/3 MONTHS OLD TOO ALONG WITH COPY OF CONSIGNMENT NOTE DULY SIGNED BY RECEIVERS.
NOW A DAYS THE SAID EXPENSES ON FREIGHT IS INCREASING AND IT IS DIFFICULT TO VERIFY THAT WHETHER TRANSPORTER RAISING THEIR BILLINGS ON ACTUAL BASIS OR RAISED DOUBLE BILLINGS ON SINGLE DELIVERY MEAN BY DUPLICATING CHALLAN COPY.

PLEASE GIVE ME ANY GUIDELINE ISSUED BY ICAI OR ANY THING THROUGH WHICH I CAN VERIFY ALL THOSE CONSIGNMENT COPIES ARE GENUINE AND PARTY DOES NOT RAISING DOUBLE BILLINGS ON SINGLE DELIVERY.
WE ARE MAINTAINING FREIGHT REGISTER TOO BUT NEED A SHORT CUT SCIENTIFIC WAY TO CONTROL THIS HUGE EXPENDITURE(EXP IS MONTHLY AROUND RS 60 LACS).
ALSO I HAVE TO TACKLE AUDITORS IN NEAR FUTURE IN THIS REGARD.

PLEASE SUGGEST ME ITS URGENT

Dear All,

Please let me know the define the term Minority Interest

i know about sinking fund and hidden reserve.

Hi can any one tell me that, we are having trust and we take one room for rent(for labours) under which we make agreemnent with room owner also we pay advance amount Rs. 40000/- as a advance rent for every month now my Q is whether TDS is compulsary or not..... reply me as soon as possible with explaination...........

What are the diff between ESOP and Swear Equity Shares ???



How To Calculate Divisable profit in Case of Redemption preference Share??

thanks in advance

A company sold assets to its joint venture entity n book the profit in its sfs.n company dont have its subsidiary means As 21 wil not be attracted therefore As 27 wil also nt be applied.so wht abt profit book in company sfs.as one cant make profit out of him.if no treatment is done so above assumption wil nt hold gooeA

Sir,
I am a Manufacturer of VAT exempted Goods. We receive some Job Works from others and on which they deduct service tax @10%(Inv.Form 8C).My question is, how can we show such Invoice value in A/cs.I mean, Purchase Value incl. tax or separately.

Please Reply.

Sir,

Kindly guide tds on what amount to be deduced if payment made for hire charges but party raise bill charged vat on hire charges now the question arise whether tds has been deducted on incluidng vat amount of whole bill or without considering vat - this case is arise in Andhara pradesh this for your ready reference

Pls provide solution of above query at the earliest


Yours
Akbar

What is the Debit Memo and Credit Memo?

Thanks in advance

fazle_sap_fi@yahoo.in