Sir,
I would like to know the concept of NRE & NRO A/c. Who can open this both a/c & after opening the a/c what are the statutory compliances to be fulfil.Pls explain in detail.

Regards,
Anjan S Mehta

Hi......
I want to know that a indian company having foreign operation in different country(say Africa,us,canada uk,and hungary).1) What accounting standard they would apply, means IAS or IFRS or US gaap,OR any country specific standard.
2)At the time of consolidation in india what is to be followed.3)To which company IAS and IFRS is mandatory in india.

ABC TV billed to an advertisement agency as follows:

Total bill Rs.1,00,000/-
Less: Agency Commission Rs. 15,000/-
Net Rs. 85,000/-
Add:Service tax Rs. 10,506/-
Total bill Rs. 95,506/-
My question is what is the accounting treatmentIn the book of ABC tv. Whether there is any TDS treatment for For Agency commission. Rs.15000/- which is not actually paid to advertising agency. Please do the needful.

can all the preliminary expenses can be written in the first itself as per Companies Act,1956

Some financial accounting softwares using "Expenses Booking" vouchers to enter & book the expenses under the purchase account such as bill for placing advertisement( indirect exp), printing expenses bills ( indirect exp) etc.

In tally software, can we make a new voucher other than the purchase voucher to enter and book these type of expenses under purchase account.

The above type of bills will not come under purchase.These are indirect expenses.
How we enter & book these expenses in tally software.


SK

a firm[say a] has taken a frenchise of a product from a firm[say b],
firm-a accepts only credit card payments,
the amount of sale(credit card sale) is send to firm-b.
later firm-b will pay some amount to firm-a as per their contract.
how will the credit card payments be recorded in books of firm-a.
Also some bank charges are deducted for this facility by the bank.
please give me entries to be passed in this case.

Sir,
I am working in a Pvt co. & our co has borrowed loan from Kotak Mahindra agnst 2 car (Mercedes Benz) for 3 years. In this regards pls specify me loan a/c head in a/c book & tds is applicable on int paying to KMPL

Regards,
Anjan S Mehta

Financial Assistance in the form of cash
(non -returnable) + agency service from a *government fund to a private company for
office automation ( software installation).

We can account this cash as miscellaneous income in P& L A/c.

How we will account this income in other ways?

How it will b/f in the next fiscal year ?

( *Not from Indian Govt. but from a middle east country ministry)
stationary exp, Office automation & computer repairs& maint etc are trating as indiect exp in P&L.

How we will account financial assistance ( non returnable) from govt fund.

Financial Assistance in the form of cash
(non -returnable) + agency service from a *government fund to a private company for
office automation ( software installation).

We can account this cash as miscellaneous income in P& L A/c.

How we will account this income in other ways?

How it will b/f in the next fiscal year ?

( *Not from Indian Govt. but from a middle east country ministry)

we are importing raw material against advance licence and we do export to clear the the export obligation against advance licence.suppose advance license obligation is not fully met

please even tell me,in case of DEPB

How shuold i value inventories at end of balance sheet date