we are in construction business. allotted 1 flat to a party A. he paid us total sale price. now he selling the same flat to mr. B. Here final sale agreement will be between builder & mr. B.
1. Can we to triparty agreement stating mr. A as confirming party ?
2. what is the accounting treatement in books of accounts?
please guide.

Dear sir,

As per AS-13 all long term investments are valued at COST unless there is permanent diminution in value.

What is the year end accounting treatment for long term investments in mutual funds by private limited company (INDAS not applicable)

What is the accounting treatment for mutual funds as per INDAS

Thanks & Regards,
SAI KUMAR
+919642414296

Dear Sir

We have purchase return of goods and through Debit Note with E-way Bill. We have reverse the Input credit with the earlier input credit and the party will issue Credit Note.

It is clear that we don't have to show debit note in GSTR-1 return but my query is whether the Debit Note No with the series to be shown in Document in our GSTR-1 return.

Thanks

SIR
In a Pvt ltd Co., they do not account the salary payable account and they account only the salary paid to the employees. Is it correct sir?

As it is a logistics co., it does not deduct any provident fund from employees.

thanks in adv

We are a partnership firm of two partners. One partner has contributed more than 3/4th capital. In absence of any clause in partnership deed regarding interest on capital, can we give interest on capital to only one partner who has contributed most. This is will be as per mutual understanding of both partners, since profit of firm is very less , it being first year of the firm. Please advise. Thanks in advance

Our factory is located at Andhra pradesh on a land that is taken on 99 years lease. The lease contains an upfront premium and also a rental charge to be paid on monthly basis for the entire duration of 99 years (rent- INR 40 lac/annum)
The initial non-cancellable period is for 33 years and the agreement provides for further 2 extensions of 33 years in the option of lessee (our company) and the possibility of extension is certain at this point as well.
Does this transaction gets covered under IND AS 116? If yes, how to go about arriving at the Lease liability and ROU as per IND AS 116?

One building was taken on lease for 30years which was expired on 21/11/2010 and as per our request, lessor renewed for another 15 years from 21.11.2010 to 20.11.2025 . The entire lease payment for 15 years has been paid on 08.05.2018 amounting to Rs 2.5 crores and legal formalities of lease completed.
This lease payment is single time and no future lease payment for coming years and therefore,capitalised entire Rs2.5 crores during 2018-19


Now,whether IND AS 116 is applicable from FY 2019-20 or to be treated as per IND AS 16

We have changed the constitution from LLP to Private Limited Company w.e.f. 01.01.2020
in the LLP, we were following the depreciation rate as per income tax act.

In the Private Limited, we have to follow the companies act compulsorily.
How to adjust the difference in values of fixed assets due to change in the depreciation rate?

SIR

We are doing logistics business and providing trucks for our business. How will the depreciation be charged?

thanks in advance

1. If the Holding Private Limited Company inot mandatorily required to folllow Ind AS for standalone and Consolidated Financial Statement ?

2. If The Consolidated Financial statements are required to be prepared on line by line basis ?
3. As per last page of Division I of Schedule III of The companies Act 2013 in table under General Instructions for the preparation of CFS it is required to mention Minority Interst (Investment as per Equity Method). What is this Equity Method ?