if a employee goes for official work to outstation.he went in march2007 but comes on april 2007. he submitted his TA bill in april. the expenses related to march 2007 is booked in april 2007. whether it is prir period exp. or not? he did not took any advance from office.

What treatment of Duty & Taxes in account book of company

hello friends, i have a problem in finding out whether the consideration is in net payment method or net asset method because in net payment method you cannot take assets and liabilities. I am in great confusion please help me

A Financial Institution has waived of the Loan amount of Rs. 60 Lacs along with the Interest of Rs. 20 Lacs of One Loss making Company.
The Interest Amount Waived is Credited to P&L A/c and taxable as Income U/s 41 of IT Act and Also liable to be taxed under MAT.
I would like to know about the Accounting and Tax Treatment of Principal Amount Waived Off.

if an autonomous body acquires land on lease for a nominal value of re.1, then is it necessary to make a valuation of the land so that it could be reflected in the books?

Now what is the ceiling for not deducting Provident Fund and ESI for an employee.( To the best of knowledge it had been Rs.7500)

Please tell me,

When revenue stamps are required to be attached on the Payment vouchers??

Is it also required for a re-imbursement exceeding Rs.5000 in Cash backed with more than one supportings?

Please tell me,

What are IOU's??

There are Two Companies Say X and Y

X is reporting enterprise (India)
Y is foregin subsidary (China )

Quary: While making the investment in foreign subsidary at different dates there was difference in exchange rates which tantamounts to foreign exchage loss
Q1. will it be treated as foregin exchange loss and debited to P & L A/c
Or
Shown as Capital reserve with negitive figures (i.e., Loss)

Q2. Is it correct way of disclosure

If we place an order to any club to arrange a party at their lawn with food, snacks, liquor, etc. and we fix the rate per person.

In the above condition, club is charging LST on their bill with some service tax also.

should we deduct TDS under Contractors payment, as we have placed an order to club to arrange the party on fixed charges ?