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.

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.

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

revaluation(fixed assets) surplus can distributed as dividend ?

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)

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

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

plz.advice me with details

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.

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

Please revert..

Hi,

We are working as sub contractor for one IT infrastructure project at Mozambique country it was started in mid of 2009, we have contract with indian X company and X company have contract with Mozambique government,X company paid advance of $30,000 equilant of Rs.1.4crs ($30000*Rs.48/-) in initial stage and asked us to adjust against the invoices based on service, when we are raising invoice to customer considering service value of $10000@ present forex rate, my question is we need to apply for advance adjustment present forex rate or old forex rate.
Please clarify us its urgent because our customer is come back and saying that we have to apply old forex rate for advance and adjust accordingly.