Anonymous
This Query has 2 replies

This Query has 2 replies

30 May 2013 at 14:42

On which amount c from is issued

Hello,

My Question is for which amount C Forms is issued :

If 'A' purchase good from 'B' for Rs.261360/- on that 'A' charge Net Cst 2% Rs.196020/- on 75% of the contract value is payable against the supply of materials & on that Output cst 2% Rs.3920/- and 'A' also charged labour charges on it 25% of contract value Rs.65340/- on that service tax 12.36% Rs.8076/- total bill amount is 273356/-

Now i want to know weather 'A' should recive C form from B on total bill amount or he should exclude labour charges and service tax which has been charged.


Vipul Poojari
This Query has 1 replies

This Query has 1 replies

30 May 2013 at 12:25

Depreciation treatment

Dear Sir,

Please suggest depreciation treatment of asset whose total of Accumulated Opening Depreciation and Depreciation during the year exceeds the Closing Gross Block under Straight Line Method. Due to this Net Block is showing a negative balance.

Kindly provide guidance on this.


j_sanjay72
This Query has 3 replies

This Query has 3 replies

C.I Moulds are used in the manufacture of M S Ingots. The moulds have life of 4mths - 6 mths and than they are scrapped. In the Excise Laws, the moulds are capital items and CENVAT is accordingly available. I seek advice on the following issues:
1. Considering the above, is the mould a capital item or revenue expenses ?
2. If it is to be treated as capital item, what should be the depreciation charged in I.T Act as it has life of 6 mths approx.

Please advice preferably quoting ICAI Guidance note/ opinion (if any) and relavent case laws.


Dhanraj
This Query has 3 replies

This Query has 3 replies

29 May 2013 at 21:23

Loand & interest

Sir/madam,

An unsecured car loan of Rs 20 lac was obtained on 31.12.2012 on which interest payable was Rs. 296800. The installments were payable in 36 monthly installments of Rs 63800 each. My query is how the entries will be made in the books and how the loan and interest shall be presented in financial statements for the year ended 31.3.2013?

Thanks in advance


sreejith
This Query has 3 replies

This Query has 3 replies

29 May 2013 at 19:04

Dividend

revaluation(fixed assets) surplus can distributed as dividend ?


Sankar Chakraborty
This Query has 1 replies

This Query has 1 replies

29 May 2013 at 17:15

Deferred tax

please let me know the following calculation is right or not


Opening Balance (Liability) 11380.00 as per balance sheet


Depreciation as per Companies Act 13087731.00

Depreciation as per Income Tax Act 11284792.00

Diff. is 1802939.00


Deferred Tax Assets 557108.151

R/O. 557108.00

Balance Deferred Tax Liability -545728.00
(DEFERRED TAX ASSET)




MOHAN SINGH ROHILLA
This Query has 1 replies

This Query has 1 replies

29 May 2013 at 15:48

Query about entry date

my firm is trading concern.and i purchase goods from punjab against c form.But my query is that it takes 4 to 5 days to reach goods to my shop.so which date i should entered bills in my accounts,bill date or goods reach date because later on we have to issue c form to seller.and i have to entered all information in my Dvat return.
Thanks in advance



Anonymous
This Query has 1 replies

This Query has 1 replies

29 May 2013 at 14:43

Nil return

if in form 16 no any employee libel to pay tax then filing of tds return require or not.

plz.advice me with details


divyesh
This Query has 1 replies

This Query has 1 replies

29 May 2013 at 13:20

Exemption

i m cs exe level student i m complete my part time mba then can i get exemption in cs exe account subject based on part time mba degree.


Sumit
This Query has 6 replies

This Query has 6 replies

29 May 2013 at 13:17

Ascertainment of accounting head

Can we debit 'Remuneration to Directors' under the head 'Employees benefit exp.'

Please revert..






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