Pl tell whether AS 30, 31 & 32 are applicable for June 09 Final Exams?

What is the procedure followed for accounting of Call and Put Option trading and aslo the tax liability.
I mean Journal Entries required to pass in tally for taking the effect of such trading.

What head in accounts should be created for the payment of toll tax & Big TV recharge

The cost acquiring a Leasehold land is amortised over the period of lease.Hence, Depreciation/amortisation is allowed as per companies act.


But whether the amortised amount (ie depreciation)is allowed as deduction in computation of Income under the Income tax Act? If yes under which sec of income tax

If no, While calculating defferred tax Whether we have to ignore the leasehold land depreciation as per copanies act ?

Dear experts,

'ABC' company has started their business in FY 07-08. Now FY 08-09 is the company's second Financial Year.

Now the company is closing their books for FY 08-09 (Finalization). And they want to make a provision for Gratuity. (Company wants to Introduce Gratuity.)

Questions:
1. What is the applicability for gratuity?
2. How does it work?
3. What is the procedure?

Hi
I m Ali, I m working as as accountant in Gulf since 6 months. I hold an MBA degree in finance as major and marketing as minor. I have completed a course in SAP (Fi/Co). I had worked as Customer Service officer in icici Direct for 30 months.
my question, is it for an MBA possible to grow in accounts field.
please help me and what major steps should i take to make my future bright.
suggestions.

A Company is not having sufficient revenue for giving arrears of salary but it has huge balance in general reserves.

Method 1:
Can it debit General Reserve directly

Method 2:
or the arrears of salary has to pass through P&L A/c only and later on debit balance in Accmuluated P&L is set-off against General Reserves. In that case, P&L will show a loss but if former is the case, P&L will continue showing profit.

Personally, i think method 2 only is allowed as arrears of salary is an expenditure and has to be matched against revenue to find out Net Profit in spirit of AS 5.
Though company is insisting on method 1, Can it be allowed?

Dear Sir,

A company who want to wind up its affairs has nil liabilities (except shareholders capital) but however it has income tax refund pending for earliers years with the IT Department. Can the Co. procced for wind up u/s 560 showing the refund due in its Balance Sheet or is it possible that the refund can be issued in the name of shareholders. Plz advice

Thanks and regards
Minita

sppouse we install machinery on 31 march than we able to charge one day dep. on that on that machinery

what should be accounting treatment if goods are purchased with vat/cst and same amount of vat/cst is shown as discount in the same invoice.
For eg...
Basic Price 100
CST 3
Total 103
Less
Discount 3
Net 100
The discount is not in the nature of Cash discount.... We cannot treat this discount as trade discount as well.. as it comes after vat/cst calculation... Please let me know the repurcusion at the time of sale tax assessment.