we have received an order from company of Rs. 62 lacs and made purchase against it of Rs. 45 Lacs.now the buyer refuse to take the good and ready to pay Rs. 40 lac for not lifting the goods.but the good is ready and lying in stock.
so what should be the accounting treatment for receiving payment of Rs 45 Lac under which head it should be credited..and if the goods sold as scrap by us in very low value say Rs. 5 lacs so what should be the treatment of Loss.

Pls advise.............

how much cash payments should be given in a day for cash expenses.

Dear Sir,
Regarding TDS on Rent.
Rent per month Rs.40000/- (Rs.40000*12=480000)
Deductee payment for Rs.36000/pm
TDS deposit for Rs.4000/-

We have rent paid to deductee 2-3 months later. Eg. April to June Rent paid on 20th July for Rs.108000/- and TDS Deposit for Rs.12000/- on dated 20th July.
So, that i have to want to know, tds deposit per month against rent payable or against rent paid.

what types of accounting standards?

sir what % of provision must be made against advances by nbfc as per prudential norms for standard assets, sub standard assets, secured portion of doubtful debts ur to one year, one to three years, more than three years, unsecured portion of doubtful debts and loss assets

Dear sir......please provide me allahabad bank monthly stock statement format. My email address is qazi786@live.com. please solve my problem ss soon as possible.

Thanks & Regard

Hi,
Pls explain the difference between Business Promotion and Travelling expense.
Also, the stay in hotel by the Director of company will come under which head?

Thnx
Gurvinder Singh

Is there any specific disclosure required in respect of security premium in the first year of presentation of financials of a company
?
should the amount of shares and the premium per share be disclosed in the notes to accounts in Note 2?

Kindly also provide the reference.

One client has given a capital advance to a foreign country (7 lac Euros - 30% of contract amount) on 20th Mar 2013for the acquisition of fixed asset -Plant and machinery. The same was recorded in the books at the rate applied by bank( as reflected in the bank statement).

My question is.. will AS 11 apply for the same and is it required to reinstate the asset as on 31st March 2013 at the closing rate?

I got some equity share as gift from my mother so what will be its entry in ours book