Whether Debit & Credit Note are for sale & purchase transaction or it can be used for the purpose of other transaction?

Like our co. has to repay an amount to one of its sister concern as sister concern has made payment on behalf of our co.for the purchase of fixed assets. so in this case our co.is issuing Credit Note to its sister concern. Is it right to do so?In my opinion it is not correct as this transaction does not related to sale or purchase.

Water tank..under wchich of head it should be shown in Fixed asstes??

If any person whose activity as a Contractor and Service provide. But bill seperatly,

So, what is percentage of TDS deduction of that person?
Please help me out.......... its urgent..

Parvez

An expert told me that to create any reserve in the year, a co. has to give a note regarding it....cn any1 tell me that does it mean that the profit calculated in statement of P& L by a co. is different from the one shown in B/S.....and if Reserve and surplus created during the year is to be shown in P&L,under which heading will it be recorded?

IS REVISED SCHEDULE IS APPLICABLE for the November 2012 exam. In which segments it will affects in Accounts??????

Whether as per companies act depreciation will be charged on the assets which is sold during the year even if sale in 11th month of f/y and what will be the treatment of accumulated depreciation and profit or .loss there on?

What is the difference bwtn Accounting Standards(AS) issued by ICAI and Indian Accounting Standards(Ind AS)?

As per revised schedule VI, how will we show the reserve created during the year in the Statement of Profit and loss A/c by a Company.

HI friends,
As the duration for the cheque to consider it as stale becomes 3 months from 1st April'12. So I want to know whether such amendment is applicable to the cheques drawn after 1st April'12 or the cheques which was drawn earlier are also included here?

If in the initial year of company we did not recognize DTA (Business loss and Unabsorbed Depriciation), in FY 11-12 the company has earned profit; now what should be done?
AS per IT ACT there is NIL profit because set off and as per MAT there is some profit.