im working in a food industry, we send raw material ( haldi & red chilly ) for grinding & receive job work bill.. kindly tell me is there any tax limit agst job work done in a financial year??? & type & rate of tax applicable ???

Hi,
Can you please let me know what does finance cost comprise of as per revised schedule VI?
Does interest on Late payment of Tax ( TDS, IT etc) come under the head finace cost? Please reply as soon as possible.

Dear Sir

I work in real estate company. We have given a civil contract to a Contractor with material and labour RS 50 Lacs. Some reason contractor
has not proper no of labour. he arranged the labours on behalf of him and also 5 LAcs paid the lobour bill on behalf of him of Rs Lacs with dedutct TDS and WCT. Please solve the problem we will deduct the TDS and WCT on which amt 50 Lacs or 45 Lacs.

Deepak
9015739038

We are a pvt limited co having less then 50 employees. Is AS 15 actuarial valuation applicable ?

As per AS 15 applicable we come under SMC and hence we think it is not applicable. However as per our auditors according to Companies Accounting rules 2006, there is no limit on number of employee. it is applicable for us and we need to actuarial valuation

Can someone please suggest

Can we charged depreciation on land or building? If Yes what rate of depreciation?

I have purchase a home on bank loan, what will be accounting entry in my personal book for bank loan & interest?and What amount show in balance sheet.

Bank made a wrong entry Rs. 340,747/- and corrected the wrong entry(on the same)Rs. 340,747/-. I need to know which ledger should i create & what entry should i pass.If i debit the Bank what should i credit than please tell me.

Dear all,

Request to give solution to solve the below mentioned problem.

While taking raw-material closing stock as on July 2013, found about 15 MT excess stock lying in godown. While checking previous years details, came to understand that year end closing stock was shown less by mistake, thus effecting total accounts including profit. I am recently joined in a company at Dubai, and here we are preparing monthly balance sheet and sharing the profit between partners. Pl give solution to rectify the error, and to include the stock in opening balance. We are maintaining accounts in Tally 9

thanks
sasi

Sir

please explain the concept of depreciation as per income tax act

suppose a firm has machinery of 255500(W.D.V. AS ON 31.3.2012) NOW ON 01.6.2012 MACHINERY HAS BEEN SOLD FOR 150000 NOW TELL WHAT WILL BE DEPRECIATION AS PER INCOME ACT ON WHOLE MACHINERY BLOCK FOR THE YEAR 12-13

HOW THE MACHINERY SOLD IS TO BE TREATED
PLEASE EXPLAIN IN SIMPLE LANGUAGE AND MENTION EXACT RATE OF DEPRECIATION

THANKS & REGARDS

I just want to know which is a better software for accounts, Tally or Quickbooks or Busy?
Because tally is giving a lot of problems...kindly also suggest any other accounting software if you know...