Q 1: When Goods is purchased on 01/04/2008 but received on 03/04/2008,so that on what date purchased should be Record in the books of accounts ?

Q 2: When any expenses Actually incurred in 31/March/ 2008 &paid in15/ May/2008, bill dated 25th July 2008 but Recd in 15/September/2008.(financial year 2008-09& bill Belongs to TDS matter) then when the entry for the TDS & Expenses will be Recognize?

Q 3: When Agreement for Purchase of Vehicle is made on 31st/March/2008 but Delivery Received on 30/04/2008 after the Signature on Balance sheet of BOD,advance paid on 15th March 2008.When it will be Recognize in the Books of Account?

Q 1: When Goods is purchased on 01/04/2008 but received on 03/04/2008,so that on what date purchased should be Record in the books of accounts ?

Q 2: When any expenses Actually incurred in 31/March/ 2008 &paid in15/ May/2008, bill dated 25th July 2008 but Recd in 15/September/2008.(financial year 2008-09& bill Belongs to TDS matter) then when the entry for the TDS & Expenses will be Recognize?

Q 3: When Agreement for Purchase of Vehicle is made on 31st/March/2008 but Delivery Received on 30/04/2008 after the Signature on Balance sheet of BOD,advance paid on 15th March 2008.When it will be Recognize in the Books of Account?

we are paying regularly to different car travels for engaging car's for official visits my question is , is this attract tds? if yes , minimum slabis Rs.20000/- per bill or Rs.50000/- per year. is it correct.

I want to know whether there is any penalty for not fixing revenue stamps for payments above Rs.5000/-


I have one more doubt stamp duty act says that we have to affix revenue stamp for all payments including cheque above Rs.5000

Here every body is fixing revenue stamps for cashpayments above Rs.5000/-

which is right

hello sir

here is manufacturing co there is one party from which we purchase some items.if there is difference between our PO and their bill for rate difference.there is any effect of VAT/CST amount.for exp. Our PO Rate is 100/- their bill rate is 110/- according to their bill CST2% 2.20/- and as per our PO CST2% 2/-

In this case am change CST amt

Please solve my problem

thank you with regards

Hi
Pls help me to in the folowing issue

My company is a trading company and it is having projects also.Majorly air conditioning projects each project may take years to compleate and 60 % of the project will be the inventory cost and 40% for instalation charges.
i would like to know, the accounting policy can be adopt for. presently while issuing the materials it is considered as Sale.
i belief if we choose contract accounting, the invoicing should not afect sales account.
Pls let me know in detail how the contract accounting works under this siuiation.

Thanks

Can any one give me the entries by which MAT CREDIT is created, where normal tax is less than tax under MAT. And how it can be adjusted where normal tax(under tax laws) excess of MAT in later year.
(Entries which also involve provision for tax A/c)

And also give entries if Deferred tax is invovled.(in both cases ie DTA/DTL)
Thank Q

why should we call it as Balance sheet rather Statement of assets and liabilites since it shows liabilites and assets

Hi All,
I have a doubt in AS 20. In case a company is incorporated on 7th Jan and the books are closed on 30th March, should the EPS that we calculate be adjusted for the entire year...since it would normally be only for 3 months since the operations were carried out only for 3 months.

Hi all,

Correct accounting treatment on foreign travel advance accounting entries and the reason behind it?