The cost of the asset is Rs 1,00,000.The life of the asset is 10 years. The wdv at the end of 10 year shouls be NIL. How to calculate the rate.Please explain in detail.

Dear friends,
As per AS -26, intangible assets Preliminary expenses are to be claimed in the first year only.
& as per Income Tax to be claimed in 5 equal installments in 5 years.

Then why we some time time see the Preliminary exp. in the debit side of Balance sheet, if we are claiming in one year only as per AS -26.

Fact of the case

Lease Priod 30 Years
T&C Renewual of lease at expiration for furter five year at the descrition of lessor.

Q: Please clerify me whether the capitalization of lease Premium paid at initial stage will amortize during 30 year?

and

what accounting treatment will be done for

-Annual Lease rent
-Annual Maintenance Charges

Whether ICAI has issued any clerification or guidance for accounting of leasehold land?

Hi

Can anyone have any idea whteher the security deposit or advance received from customer can be adjusted from his outstanding for calculation of ageing.Please qute the relevant extracts of US GAAPS if any available on this subject.

best regards

kartik

Pls tell me how to prepare a cma data.

Pls tell me how to prepare a cma data.

hi
i dont know how to record payroll entries in tally 9.
can anyone give me detail explanation.
plzzzzzzzzz
thanx

How should I book Prior period income/E Income in books,
also please explain it impacts on taxation

Pls help me in my difficulty,

I want to know what is the treatement of Debit And Credit note in the accounting system?

When debit and credit note is being sent
ans by whom it is being sent?

If u have a example regarding said difficulty pls explained it by way of
accounting entry?

And what is the entry of Debit and Credit note in the books of account?

Pls help me.................

Pl clarify the following
If a banker gives CC Lt of Rs.4.0Cr and a LC facility for Rs.1.0Cr to his client.

How would this be accounted in the clients books.
Will Rs.5.0cr (CC+LC) shown as liability of the client.

For the CC limit the client would be paying interest, what would he be paying for LC
Will the banker open 2 accounts one for CC and another for LC for his client.