hi friends

Software (tally) purchased for the organization purpose .

as per amendment is it Revenue / Capital expenditure.

Software installed in office is this cover under new amendment ???

One my Client have negative cash during some months of previous year because of negligence of Accountant, the reason is because they pay salary in cash , Please suggest me how can I make that positive

dear Sir
I will join a Branch retail shop. There are 5 retail branches. So I think separate account will keep for each branch and at the time of year end all the branch accounts should be consolidate in a single balance sheet and P/L a/c. I am the accountant of the all the branches.
Is it right?

Thanks in advance

dear Members,

My client is charging depreciation on camera and mobile set as per companies rate at the rate of 16.21 % for single shift. is it correct if not then in what category they should be charged and at what rate and what will its impact on accounts. they are charging at that rate from last 2 years.

Please Reply

Dear All

If a person enters a contract with another to use its facility for a specific period. Also spends a substantial amount on piping, flooring, painting, etc to make the facility usable. What will be the accounting treatment for the same.

Thanks in advance

sir/madam,

The book value of a land of IOC Retail Outlet is Rs.2,56,800/- . But the market value as per sub-registrar valuation is around Rs.35,00,000/-.

Now, I decided to take into account the appreciated value of land in the books of account.

Kindly reply what is the procedure for appreciation of land.

thanks in advance

Under Hire purchase system who will claimed depreciation.
Hirer or vendor
Plz reply

sir,Madam,
what is the depreciation rates as per comapanies act?
1.Computers
2.Scooter
3.Mobile

Please tell me.

Thank's

P.Rajasekhar

A proprietor purchased a car by Paying rs.100,000 cash from His proprietorship firm as down payment . but availed of loan of Rs.300,000 from ICICI bank and paying it through his personal saving account. How it would be entered in books of accounts.

Asset Car A/c Dr.
To Cash A/c
To ...........Dr.

what should be dr along with cash because loan payment will be done through his personal saving account we can not show as loan here.

And what would be interest entry for the interest he paid during year on loan.

Please clarify in detail.

I have encountered a situation for which i require solution in respect of Deferred Tax.

For eg facts of the case are as follows :

Suppose the data given below is for FY 12-13 :

Particulars- Accounts
Loss Rs.(250,000)
Less: Depreciation as per Companies Act Rs. 170,000

Net Loss Rs.(420,000)


Particulars- I T
Loss Rs.(420,000)
Less: Depreciation as per I. Tax Act Rs. 90,000
Less: Preliminary Exp U/s 35D of I. Tax Act Rs. 10,000
Add: Depreciation as per Companies Act Rs. 170,000
Net Loss Rs.(350,000)

For the situation given above,

1)Do we have to calculate deferred tax on only UNABSORBED BUSINESS LOSS,

or

2)Deferred Tax is calculated on all the following items :
a)Depreciation
b)Preliminary Exp U/s 35D
c)Unabsorbed Business Loss

Which of th above option should be considered for deferred tax calculation

Yours early reply will be highly appreciated.