hi
Can depreciation calculated at the rates mentioned in the income tax act,1961 while preparing the revised schedule VI?

the depreciation rates as per companies act is different from the income tax act.

In the policies of the companies it is given that they follow the rates as per income tax rules.
so by that can we prepare the revised schedule VI with income tax act mentioned rates??

Hello sir

sir my question might look silly but i am having this doubt. sir why closing stock does not appear in trail balance.

thanks

harish

Dear Sir,
Pls suggest us how to make entries of shares application / Allotment / holding / bonus shares in accounting

Tnks
Reshma

Dear all
please give me suggestion for availing of cenvet credit of furniture & fixture which is use in office builiding (administration)
we can avail cenvat credit on that or not

please give me positive response.

hello, in the first year of our company, we had opeartions for only four months. so we did not created any provision .. however we had paid taxed of around 4 lacs. which were later refunded.
how do i disclose this income tax refund in my financial statements

How to pass the journal entry in Tally for the following transactions:-
Date- 01/05/2012 An Indian company raise a proforma invoice to a foreign client amounting EURO 1,000/-.
Date-05/05/2012 Foreign client remit Euro 1,000/-, in the FIRC, rate for Euro is mentioned EURO 1=INR 65.
Date- 02/06/2012 Indian company raise a Final invoice to the same client for Euro 2,000/- , and gets the payment on 06/06/2012. In FIRC rate for Euro is Mentioned as i)1 EURO=INR 70, ii)1 EURO=INR 60.

What is crr?
when it is used?

Dear Sir,

We have Manufacturing and Trading division in our company with separate books of accounts, At the time of preparation of balance sheet we have to make combined balance Sheet.

But we are facing difficulties to prepare the balance sheet In the revised form Schedule VI to make combined balance sheet.

Hence kindly provide the suitable format of Schedule VI applicable for combined manufacturing and trading division.

Hi,
If a person has retired from partnership say on 01/10/2011 and partnership is continued further. He had taken machinery and factory shed from partnership firm and started his own business. What effect should be given in books of accounts from income tax angle.
Whether WDV as on 31/03/2011 to be taken or 6 months depreciation to be calculated on assets taken in proprietorship. No other consideration is given.

Dear All, Please Suggest for following:

Ours is Vehicle Dealer ship business. We have Tally ERP 9 for accounting and Reporting. ISsue is:

Our Dealership will incur the Advertisement Expenditure (like Hordings, Brochures, Sale Camps etc.,) and later it will claim the expenditure so incurred to Vehicle Manufacturing Company. Vehicle Manufacturing Co., will reimburse 60% of amount not in cash but it will credit our Dealership account in its books and issue Credite note to acknowledge the same to our dealership firm.
I thought the entries for all the transactions as:
1. When Dealership incur the amount
Advertisement Expenditure Debit 10,000
To Bank Account 10,000
2. When Claim lodged
Advertisement Claim Debit 6,000
To Advertisement expenditure 6,000 (being 60% of expenditure)
3. When Vehicle Mfg Co, Credits our Account
Vehicle Mfg Co., Debit
To Advt Claim Credit

Also I thought: create Sub Group of Advertisement Claim Account under head of Sundry Debtors.(In Tally ERP9) for reporting Purpose.


Did I think Correct? Suggest developments....