our client is a pvt. limited co. incorporated in june 2011. The co. could not start its operation till 31.3.2012, however it incurred several exp. e.g rent, electricity, salary etc. Now the question is how to pass the entries. Shuld it be chgd to p&l completely as per as-26? How to present it under revised sch vi. And last how it would be treated as per Income tax act. Kindly clarify.

anyone Plz tell me right treatment of preliminary Exp. in schedule Six

i want to know after what amount can i start deducting the Tds on contractors u/s 194 C. is the rate 2% applicable on single contractors and 1% on sub contractors.

what is the difference btwn single and sub contractor ?

if we receive a bill of any expense of say 1 dec 2011 today for payment so how will we show entries in our books of accounts in TALLY as last FY 2011-2012 has already been closed. The main confusion lies in accounting for the same.

Hey, In IPCC 2nd Group, Advance Accounting, for Banking Companies Account, Which rate is applicable, In RTP for Nov'12 (Prescribed by ICAI), there are 2 rates given. i.e. Existing rates and Revised rates. For Exam purpose, which rate is applicable??

Thanks in Advance

Dear sir,

Can i show closing stock under construction period like sand in site , Brick, etc Available in site the same can i show in profit & loss a/c Before commercial operation ?

Please clarify

I am a newly qualified CA and has been appointed as a CA (Accounts dept head) of a company involved in manufacturing & money market business. I want suggestion to manage the accounts of the company and how should i began my work as a CA in the org. What should be the hirearchy of management and how work should be allocated. What reporting system should be there???

Dear Sir

What is the difference B/w P& L and Income & Expenditure A/c.My Client is running a Dhaba so what should i prepare for it Income and Expenditure or P & L Account as there is no opening and closing stock and purchase is just consumable purchases.

What do you mean by credit note or debit note and do we pass any accounting entry in tally?

What will be accounting entries from creating a provision to writing off bad debts. Pls explain with an example.