Hi,kindly clarify the details.some asset has been bought by a private company in the financial year 2011-12,having value less than Rs5000.During the financial year, the company has transferred the said assets as sale to another SBU of its parent company.The company has provided depreciation to the asset for the financial year up to its usage and raised the bill for residual value.The auditors of the company says that, asset having value less than 5000 is to be provided with 100% depreciation and should be written off during the financial year. But the company has sold the assets at depreciated value.. kindly clarify what the company should do,kindly clarify as soon as possible... Thanks in advance...

dear all

i have made payment of tds of salary & contractor of march 12 with in due date now we have arise a situation to rectify the same & also make payment for the same with interst. please suggest me the effect of same in my books.

DEAR FRIENDS,

I GAVE A COMPETITIVE EXAM IN LAST SUNDAY. THERE WAS QUESTION IN THE QUESTION PAPER.BUT I COULD NOT SOLVE IT AS MY KNOWLEDGE WAS NOT WORTH ABOUT THE TOPIC. I HOPE ANY MEMBER OF CCI FORUM COULD SOLVE IT.THE QUESTION WAS... AN ITEM IS AVAILABLE IN RS. 6000 AND IT CAN BE BOUGHT BY PAYING RS. 2000 AS CASH DOWN PAYMENT AND REMAINING IN THREE EQUAL INSTALMENTS. IF THE RATE OF THE INTEREST IS 12 PERCENT PER ANNUM .FIND THE AMOUNT OF EACH INSTALMENTS.

REGARDS
SANTOSH SHARMA
Accounts Executive.

Hi, sirs

can any body sugest how to check NAV for Fidelity Cash Fund weekly dividend i.e(NAV FOR WHOLE YEAR FROM 01-04-2011 TO 31-03-2012)for accounting dividend on accrual basis Pls.........Venkat <---<

What is the treatment of interest on FD While Making BAL Sht under provision of Sec 44 AB???
Case 1. When FD mature in Current Year.
Case 2. When FD mature in any Next Year.

IS propotionate Interest is required to calculate.
or full amount of interest will be treated as income in year of maturity??

What should the accounting treatment of Rent free accommodation? Plz help..

there is a company ABC & its two Branch by namely Co. A Co.B.
my query is, all branch paid there salary from their bank A/c. WHAT WILL BE ENTRY IN ALL CO. AND TWO BRANCH FOR THE SAME

OMS purchase Dr. 1000
CST 2% Dr. 20
TO M/s. ABC A/c 1020
_________________________________________

M/s. XYZ A/c Dr. 2040
To OMS Sale 2000
To CST 2% 40
__________________________________________

Dear all Friend pl. clear me what is the CST payment come in above case (1)is both CST set off and payment come Rs. 20(40-20) (2)or without set off Rs. 40 only.

i just want to know in above situation set of get or not.
Thanking You
Avin

Is it compulsory to provide depreciation on assets.
One of our company does not have any revenue/sales during 2011-12.
So should we provide depreciation on building on we can defer that for next year and provide depreciation for two years in next years.

How we disclose the reversal of provision made for the dimunation in the value of long term investment