How & When can the land owner recognised the land revenue & how the accounting under construction company has been made .

Required detailed information if any regarding construction Co. in both accounting & income tax aspects

Thaks for reading
Regards
Shobhit

Dear experts,

Kindly advise whether Interior work (spent more than 8 Lakhs) in a rental building can be capitalised.


Regards,

Joseph

sir,
i have some doubts regarding stock reserve. what are the items to be considered while caluculating stock reserve in case of independent branhes

What do u mean by teeming &? lading method? please tell according to accounting language? why this words r used in accounts?

Dear frnds,

Pls advise me whether the Foriegn exchange loss can be setoff against revaluation reserve?..??..?

If so whether it is perfect compliance of Accounting standards or any violation...

regards

Adithya

Our company spent more than 8 Lakhs for interior work.

My question is : 1. Can we capitalise the above expenditure ?

if yes,

1.What is the rate of Depreciation?
2.Which is the accounting head the above be capitalised?

Regards,

Joseph

In a Pharama Manufacturing unit, dye blocks are purchased for production. These are used for around 50-60 lakhs tablets. After that they obsolete having no value. My query is that how it is to be accounted for.It is to be treated as fixed asset and dep. to be charged or to be taken to stocks or anything else.
Plz ans
thanx

Pls kindly tell me the meaning of Long Lived asset.

Hi,

I am having a peculiar problem in my accounting. Recently my company registered for Excise and now is charging excise on all manufactured/sold goods as we are a manufacturing company.

Now I have setup 3 diff excise duties namely BED,ECESS,SAHCESS.
While entering the sale voucher, I do the following:
1. Enter as Invoice
2. Select Sales ledger as SALES CST 2% (since our major sales are outside Haryana)
3. Enter name of item, qty and price
4. Select BED @14%,ECESS,SAHCESS
5. Now when I enter CST Tax head for 2% the tax is calculated on the sale amount w/o excise but not on the amt with excise.

Example: if sale value is say 1000 then BED-140, ECESS-2.8, SAHCESS-1.40, CST@2% is calculated as 20 and not as 22.88.

But if I do the vat entry then the tax is calculated as 22.88

Also when I am preparing the sale tax reports the sale amount for CST should be 1144.2 but it shows as 1000 only for CST but for VAT reports it is 1144.2

Please let me know where am I going wrong.

Dear All,
my query is regarding accounting of UPS & batteries, which are purchased for use when electricity is going down. it is right to accounting of ups in computer head.