As per AS-26, intangible asset can be capitalized only if
1 it results in future eco benefit, and
2 useful life can be estimated.

So should an accounting software, like tally, purchased be capitalized?

We r a newly regd firm and purchased computer, Printer, fax, , photocopier from Y company. for all these item we received single invoice including vat. How to rnter the same in Tally by itemwise or by singly. we r not taking vat input. Kindly help. if you can give example it will be more helpful. Thanks

advance salary paid in cash and remaining salary payble through bank. how i make entry in tally

how to calculate goodwill for leverage firm & its impact

Our company purchased computer for Rs.25000/- from X company by cheque. How to enter the same as fixed asset in Tally. pls give entries. Thanks if you could help. Also to shown in which voucher g

Dear Sir
We have purchased for our Company Tally ErP software amounting to Rs.36000/-
( net 34286 + vat 1714).

Whether to capitalize ? and if yes under which fixed asset account.

Also clear this is tangible or intangible asset ?

Pl guide at the earliest.

Arun

Whether DTA/DTL is to be created on sale of land(which is a non depreciable asset) because there will be a difference in accounting profit on sale of land and long term capital gain will be different as per tax laws??

diff b/w trademarks,copyrights,patents,technical know how

Hi,

My mother is a Housewife and recently she has started a car rental business with uber cabs, even tough she has obtained the ghumastha for purchasing a T-permit car but she has not opened a current account yet. Any earning she gets from uber goes into her savings account. I have 2 queries

1) Is is compulsory to create a company current account?

2) Can she file ITR as individual (ITR4) or she needs to file as acompany?

Please solve my query regarding calculation of depreciation with this example - useful life of computer is 3 years I made the following purchases year 2000-01 -50000 year 2004-05 -10000 year 2013-14 - 60000 yaar 2014 -15 - 25000 suppose op wdv as on 01/04/14 is 30000/- total accumulated depreciation is 45000/- how to calculate depreciation according to companies act 2013?? please help me out