A company is under construction. it pays ROC fee & Audit fee.
Whether these expense shall be part of capital work in progress or revenue because these are not incidental expenses

Hi

Please tell me while preparing the cash flows statement, does we have take into consideration the liabilities without giving the effect of forex reinstatement, i.e. for an example i have taken an loan of 1 Million USD and when loan was taken 1USD = 45INR and at the time of year ending 1USD = 54INR, now the liability will appear in financials at reinstated figure of INR 54 Million, so while calculating cash flows, liability has to be taken at 54 Million or 45 Million, i.e. liability should be taken at reinstated figure or without reinstatement of foreingn fluctuation.

Dear Sir,
We have unexpired forward contracts which were entered in Feb-13 and have different expiry date ranging from June to Sep-13. For purpose of accounting, we need forward rates as on 31.03.13 of forward of said periods.
Banker says they can not have access to historical data. Then can anyone help how to obtain forward rate as the same is required for valuation of forward contract and then to account accordingly in books of accounts.
Thanking you.

Hi,

As we all know after completion of Project we transfer cost from CWIP to Respective Asset head.

what if before completion of that project I sale it from CWIP?

will it consider as Normal Sale?
or
Sale of Fixed Assets

Can anyone tell me exact accounting treatment for this?

Thank you.

A COMPANY IS PURCHASE ON SOFTWARE FOR RS 13500 . SO COMPANY CAPITALIZED ON SOFTWARE AS A FIXED ASSET OR NOT IF COMPANY IS CAPITALIZED THEN THE RATE OF DEPRECIATION OR IF NOT CAPITALIZED THEN WRITTEN OFF IN P & L SO PLEASE ADVICE.

A COMPANY PURCHASE ON MACHINERY ON 6-2-2013
BUT MACHINERY IS INSTALLED ON 15-2-2013. HOWEVER COMPANY IS CHARGED ON DEPRECIATION ON THE DATE OF PURCHASE IRRESPECTIVE OF DATE OF INSTALLATION SO PLEASE ADVICE COMPANY IS CHARGE DEPRECIATION IS RIGHT AR WRONG.

I paid Commission and deducted tds what is entries for the same

Dear Friends

Need your valuable suggestion on following:
Few bills of machines purchased in last year have been missed to enter in books.that have been audited as well.
We got the bills in this F/Y.
How to enter them in the books of Current year and what about Depreciation.

Dear Sir,
Please clarify the following,
we have the following parties,
1) sss p ltd
2) party x
3) party y
if party x provides open land on monthly rent to party y but billing is on the name of sss p ltd on account of party y
i) here sss p ltd paying rent first to x
ii)sss p ltd claiming reimbursement from y

what are the areas of tds applicability, is sss p ltd required to make tds

Can one reverse the Opening DTL if the current year loss as per accounts is -2400000 and loss as per income tax is -2600000.Also is reversal of DTL tantamount to creationnof DTA.

Thank you but if the company not doing any business then is it prudent to create DTA?