why it is called a fixed asset and diff bw fixed and floating asset

Dear All
Iam accounting a propritery manufacturing company (SSI)the firm purchase raw material & sale finish goods.The diff in sale & purchase tax is paid as vat.

the firm has purchase a machinery can the propriter take setoff on vat paid on machinery.

The Firm purchase oil for machinery if i account oil as direct expenses can the vat paid on oil be clamed.

the firm purchase rawmaterial from Interstate can the CST paid on purchase adjusted against vat payable.

Regards

which losses are covered under section 72 as business speculation losses??

about trial balance

We are following cash basis of accounting in an hospital.

During the year ended 31st March 2009, we have imported fixed assets, as per the terms of payment we have paid 80% of the amount at the time of import and remaining 20% of payment will the made after assets is started functioning. As on 31st March 2009 we have made only 80% of payment.

My question is that during the year ended 31st March 2009 either we have to capitalised the assets at 80% and claim depreciation on 80% value as we are following cash basis of accounting or we have to capitalised it with 100% and claim depreciation on 100%.

Sir

Tell Me How to Manage Company Tax Planning?
Whice Activites Save Tax of Company

Prakash Raval
Accountant

pls let me have mis report format

Can anyone please inform about where to present Sundry Debtors Written Off in P & L a/c..?? I mean under which head..??
Is it Indirect exps....??
Regards,

Please let me know that how the reconciliation between the debotors and creditors is made while conducting audit of manufacturing company.

Hi All,
An agriculture land has been purchased and registered in the name of the person who ins no where connected with a pvt ltd co

Eg :-
A pvt Ltd has made payment for purchase of agriculture land to the broker, who has made the payment to the farmers.

now the land should be registed in the name of A pvt Ltd co. instead it is registered in the name of the person who is no where related with the co. i.e. he is niether a share holder nor have interest in the co.

Therefore what should be the treted given in the books of A pvt Ltd
Also the person in whose name the land is regsisted have filed thier return

Suggest the answer

Regards

Hitesh Khona