hi,
What is the treatment to be done where there is an outstanding debit balance of a ledger which is in the nature of Advance given to a person and which is due from a long time. What is the entry to be passed to remove that debit balance and what would be its impact on Profits of the company. and which sections of IT Act would be applicable.
Plzz clarify.

WHAT IS THE DEMURRAGE CHARGES?

what is the swift charges?

At what forex rate the import purchase should be recorded:
1.Rate which prevails on the date of invoice.
2.Rate which prevails on the date of Bill of entry.
3.Rate which prevails on the date of receipt of goods.
4.Or any other rate?

IN WHICH KIND OF CONDITIONS JV IS PASSED?

IN WHICH KIND OF CONDITIONS JV IS PASSED?

dear sir, please let me know what are the various provisions need to be seen in case of a client who has started construction on his own land with the intention of selling them to out to outsiders or letting it out. apart from this is AS-7 applicable. as of now the building is notcompleted. so please let me know what i have to do for the current a.y 08-09 and coming year. thank u. waiting for an early reply

What is the method for accounting Preliminary Expenditure and amortization as per GAAP

Sir,
one of my client is doing f & o tdg. I would like to know f & o tdg is comes under stcg or business income.If the same is to be treated as business income then explain me throughly accounting entries or is there any farmat available.Can we maintain f & o in excel as we are doing in stcg.Pls explain by giving example.

regards,
Anjan S Mehta

Company X has given an advance of USD 1000 for an import puchase (ex rate - Rs.40/USD) on 01.04.08. Later it received an invoice for USD 1000 on 01.05.08(ex rate - Rs.45/USD. For what INR the purchase should be accounted? Is there any foreign exchange gain/loss?