How can I pass IPCC in first attempt........

Pls. clear that new depreciation as per comp. act 2013 compulsory for fy 2014-15 & how will be calculate the depreciation.

we sold 1 machine which we had purchased from a registered dealer out of maharashtra and modified a bit and sold it to the client. we charged 12.5% vat to the client on our gross amount. i want to clarify 1 thing - the device which we purchased from the registered dealer , who will charge the cst and vat on it? will he charge it in his bill? normally the buyer will issue c form so. and also when we sell it to our client out of maharashtra then do we have to charge cst and vat both on gross amount ?

sir
My car got an accident and i sold it. i also received insurace claim. my car was sold in 1st half of year but i received inscurance claim in second half as claim was cleared in 1st half but recived in second half. how to calculate depreciation. (Toal less sales value less insurance claim)in first half and charged @ 15% or some other????? please reply soon

Please answer my query considering me as newbie who has only 1-2 days of SAP exposure.

For simplicity Iam writing my query in journal entries-

on 31-03-2014
Audit fees
To Audit fees payable

on 15-4-2014
1. Audit fees
To vendor
2. Vendor
To Bank

Now Audit fees payable is appearing in 14-15 trial balance.
For cancel this entry should be-
Audit fees Payable
To Audit fees

As I know for passing entry through FB50, I have to give posting date as the same date of booking the expense previously.(in this case 31.3.2014)

So wouldn't this entry will lead to mismatch of balances of year 2013-14.
And
Is it allowed in SAP to pass entry in the previous year date?

dear sir,

we have purchased vehicle in exchange of another vehicle.bool value is high & we sell vehicle lower price.how to pass general entries.

Sir

If a Company Invested some amount in finance company,Investment will be debited under account head Investment A/c , What is appropriate account head for the finance company while booking the entry ?.

I had given loan of Rs.1000000 to a company.Co.gives interest of Rs.10000. SO today i have received a cheque of Rs.1009000 (after deducting tds).
Please tell me whether following entry is correct:-
Bank Dr.........................1009000
TDS on Interest.................1000
To Loan............................1000000
To Interest received on loan.......10000

if i pay to my empoyee rs 15000 for travelling from baroda to delhi..in the journey he spent rs5000 in fooding ,travelling and lodging and other.sop it is goes under travelling expenses but he goes at work after journey and stay 2 months and spents 10000 for fooding and lodging then it comes under which ledger?

Hello,
This forum is really helpful. I appreciate the time and efforts the experts put. God Bless & kudos to everyone!!

I will be grateful if I can get a concrete answer to the following query...

My Question is...
What will be the Accounting entry & simultaneously the Income tax effect in India for International legal expenses paid for acquiring Nationality of a foreign country?