Sir,

I have receive the Professional bill for the month of March in April Dated April what entry should be passed in the books of accounts and Also i want to know when should i deduct the tds in the month of march or in the month of april 08

whatis the entryfor baddebts in consignor's and consignee's book when a)del credre commission is given b)when the same is not given

From our C.A. We received message that Online TDS Payment is Compulsory from 1st April'08.

But, due to some problems we unable to start netbanking facility(applied but not yet started).

Because of which we not yet paid TDS for March'08.

Now I want to know that, Can we make our pending TDS Payments for year 2007-08(March'08) now by Cheques or any other source?

Is there any penalty?

Dear All,

1. How is Basic EPS different from diluted EPS and cash EPS??
How are they computed?

2. "If a company has a high PE multiple & it goes for buy back, its EPS will get diluted for the existing shareholders for an extended period of time." Hw does this happen, pls explain?


Looking forward to ur responses

we are doing equity index arbitrage. We buy nifty futures and sold equivalent % of stock futures so our position is 99.99% hedge. Suppose we bought 1,00,000 nifty @6000 and sold equivalent stock futures at same level to take advantage of arbitrage opportunity. Now on 31st March the Nifty value comes to 4500 but we have positive mark to market as we have already sold stock futures of equvalent value. Now as per Guidance note issued by ICAI we have to provide for Mark to Market loss on Nifty futures i.e.Rs.1500 lacs and should not consider gain of Rs.1510 lacs on stock futures. To me in such cases as matter of prudence one has to consider profit/loss of whole basket instead of considering each item individually. Any comment ???

What is the accounting treatment of salary paid to employee after deduction of TDS

I am maintaining ACCOUNTS WITH INVENTORY.
Is it required to enter Closing Stock at the end of every Year in the STOCK LEDGER ? or does it do it automatically ?

I have just been handed accounts from previous accountant.Am seeing a big balance in BALANCE SHEET under Forex GAIN/LOSS...
Is there any method to delete that ?
I think its because the previous accountant didnt put a Currency Symbol when entering voucher of MULTI Currency....
Please help !

A company shifted itself to new premises.The assets of old premises appearing in accounts proved worthless.The company is neither in a position to sell these assets nor it is able to use them.How these worthless assets be treated in accounts??

The company's financial year ends on December 31. Now it has received an invoice on September 2007 from one of its service provider for services to be performed in the year 2008( invoiced in advance) It has not not paid the amount of the invoice till December 31 2007, it has paid only in March 2008. The expenditure purely pertains to the period commencing January 1 2008. Now the question is how the company will incorporate the effect of this invoice in the accounts prepared for the year ended 31.12.2007. It should not book this expenditure(and show as an outstanding item) in the year 2007 because it does not relate to this period. How the company should give effect to this invoice in the accounts prepeared for the year ended 31.12.2007? Please provide some guidance in this respect.