Define the difference between FBT and Income tax ?

In the banks balance sheets, the advances which were mentioned are Gross Advances or Net Advances? Definition of net advances is Gross advances – gross NPA.

What is the reason to build investment fluctuation reserve? What is the use for the same? How it can affect the profitability of the company? I mean if I have a investment fluctuation reserve can I set off any loss on investment against this and not taking the same to PL account.

A private comapny has been incorporated on 19th February, 2008 and it proposes to hold its first AGM in July, 2009. Will the final accounts be prepared from 19.02.2008 till 31.03.2009 or from 19.02.2008 till 31.03.2008 and then from 01.04.2008 to 31.03.2009. Kindly guide me in this regard and what about audit of accounts in this case?

Please clarify about stale cheque (i.e., one which exceeding six months for clearing) what is the reverse entry.
Please reply

Thanks,




Regards,
Ganesh.S

Let Goods Costing is Rs.190/- . But Supplier Charge Rs. 197/- which is Rs.7/- excess then the original price and his bill Shown after all taxes (Excise duty 8.24% and CST 2%) Rs.218/-.

On above the Supplier charge 7/- excess in thier bill. And we book the Bill amount in our Books.
In that scenario how we deal with the excess amount, if we issue Debite Note for that than it will be for only 7/- or With taxes related with this.

sanojsharma84@gmail.com

Dear Sir's

I am transfer salary to my employees in their salary accoun.
some employees have salary more then Rs. 5000.00 should i have take a receipt with revenu stump or this is bank transection so there is no required.

Thanking you
Harish

if purchase software of Rs: 50000 in a compnay ,wheather we need to consider it as addtions to FA

if RAM of Rs: 2750 purchased for laptop in a compnay ,wheather we need to consider it as addtions to FA

Dear All,

I am working in a private Limited Company. But in this company I observed that employees are using their personal credit cards for making official payments. Also in one case somebody else's credit card has been used to book ticket of another employee.

Is it a proper practice or we should have corporate credit card for official expenses? As per my opinion they should not execute such practices in an organization.