Rajesh
This Query has 3 replies

This Query has 3 replies

21 May 2008 at 14:43

Depreciation as per company Act

Can any one provide me Depreciation Calculator as per COMPANY ACT. THANKS


Ravi Kiran
This Query has 3 replies

This Query has 3 replies

21 May 2008 at 12:50

Reim of Expenses from Client

Dear Sir,

I have the following Queries

1) Suppose a Indian company (Trading Company only Commission Income from the Foreign Customers on account of Sale of there machine in India) Incurred Expenses on behalf of there Foreign Customers who has come for marketing the product in india and The Indian Company is acting as agent of the Foreign Company in india ( Expenses Like Air Tickets,Hotel Charges Car Hire Charges etc)
Expenses bills are raised on the Indian Company
What accounting entry should be passed in the books of Account of Indian Company.

2)Suppose the above mentioned Indian Company raise a Debit Note the Same Expenses Incurred above what accounting entries should be passed in the books of Indian Company

3) In Case of the above transaction is there Tax Implication applicable (FBT,IT and Service Tax)

Regards

Ravi Konda


Vinod
This Query has 5 replies

This Query has 5 replies

CIF value should include Fob value + ocean freight + insurance + Inland haulage + Inland transit insurance.


Ravi Kumar Rajgaria
This Query has 3 replies

This Query has 3 replies

20 May 2008 at 18:33

Non clear of cheque

A cheque was issued on 01.12.08 for Rs. 10000/- for Travelling exps.Till 31.05.08, same cheque does not cleared from Bank.Now following entry passed in Books on 31.05.08.
Bank A/c Dr 10000
To Travelling Exps A/c 10000
But assume, during the year other Travelling exps made by the company will be only 4000/-. Now there is a credit balance of Rs. 6000/-
What will be the treatment?
Should this entry haveto pass on 31.03.08 because the expenses relate to last year?
What about the FBT paid in last year?


sayeed
This Query has 3 replies

This Query has 3 replies

20 May 2008 at 16:12

revenue Stamp

Hello
Revenue stamp should be affixed on every cash payment exceeding 5000. in which company it will be applicable?


Rajeev
This Query has 9 replies

This Query has 9 replies

MR.X the director wants to sell his car to the company. The company in order to know the value purchases the car by way of a loan from the bank. The bank values the car at Rs. XXXX amount and grants the loan to that extent. Further it charges a valuation charges of Rs.XX amount. Should the valuation charge be capitalised to the cost of the car?


Ravi Kumar Rajgaria
This Query has 1 replies

This Query has 1 replies

20 May 2008 at 10:16

Foreign transactions

Closing foreign currency have to conert in Rupees for Bal. Sheet at closing rate on 31/03/2008. But should we also convert the unclear transaction at closing rate?
Example: Closing Rate = Rs.40/$
On 29.03.08 Cheque issued for $1000 @Rs. 38/$ but not clear till 31st March. Should we book the exchange difference for Rs,2 in books for unclear transaction as per AS-11. Please guide


Mateen
This Query has 4 replies

This Query has 4 replies

19 May 2008 at 18:58

foriegn bank a/c interest

how to incorporate bank interest earned from foreign bank a/c which is not shown in the books


Akhil Agrawal
This Query has 5 replies

This Query has 5 replies

IF MR X INTRODUCES HIS VEHICLE PURCHASED BY HIM 3 YRS AGO FOR RS 5,00,000.00 IN HIS PROPRIETORY BUSINESS WHAT SHOULD BE THE VALUE OF THE INTRODUCTION. ALSO IF THE RATE OF DEP AS PER THE I.T ACT IS TO BE APPLIED THAN SHOULD WE CONSIDER THE 182 DAYS CRITERIA.


sudershan
This Query has 2 replies

This Query has 2 replies

19 May 2008 at 17:00

Bank Reconcilation Statement

May i know best way to reconcile the bank statement.






CCI Pro



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