Hi

We have imported certain electronic goods for sale in India. We have paid Custom Duty, Import Duty, Freight & Other charges towards Import of Goods.

We are a Partnership Firm.

Is it necessary to Capitalise the Import Cost to the Stock Item OR it can be shown separately under the Direct Expenses in Trading Account.

Is there any rule/law to Capitalise these import cost

Whether repalcement of batts of UPS will be considered as CAPEX or Revenue Exp?

I think it should be considered as CAPEX bcz batts of UPS are an important n not anyother spare part.

Please help me on this.

I AM TO DEAL PATY CASH, DAILY I HAVE TO PAY VERIOUS KIND OF EXP.LIKE CONVEYANCE, COURIER, TA DA,IF I PAY SOME ONE RS. 650/- AS CONV. WHAT WOULD BE THE ENTRY IN TALLY9, I DONT WANT TO CREATE A LEDGER OF MANY PERSON, 2ND QUERY I DO IN TAALY9 - CONVEYANCE ..Dr. TO.. PATY CASH, IS IT RIGHT WAY TO MAKE ENTY IN TALLY9, PLEASE ANS. IN BRIEF

Dear Experts,

Can u please let me know. Whether TDS is applicable to Road Transportation.
Can we deduct the TDS on Under Sec. 194 C

Please clarify

Prasad

If a debtor is standing in books from 2 years than how to disclose in balance sheet as per revised schedule vi.

What will be the Accounting entry in the books of Employer for perquisites amount of Interest free or concessional rate loan given by employer to Employee.
Whether employer can claim it as an Expense in the Books over and above the salary expense

Dear Friends, one of my client has sent Diamonds worth Rs.2.50 Crores at Hongkong as sample on consignment basis before 31th March,2012 and these diamonds are to be returned back in April,2012. my question is how to treat this transaction in accounts as on 31.3.2012. what treatment is necessary to record above transaction at the 31.3.2012 ???

Sir,
Please tell me what entry must be made in the books in case of transport service provider who has raised bill including service tax but still payment is to be received from the service receiver.
Whether Service Tax is to be shown as payable in the books as the actual payabilty of Service Tax arises only on the receipt of payment

Kindly help me and advise how to pass entry of gratuity in books when gratuity is funded by LIC of india

Present value of obligation as per acturial valuation is Rs 23.62 crores

Fair value of Plan assets is Rs 19.06 crores

Net liability to be provided as at 31st March ,2012- Rs 4.56 crores

Opening balance in liability for gratuity is Rs 6.12 croes so we have to reduce liability by Rs 1.56 crores

On the other hand actuary is saying Rs1.55 crores to be recognised in the profit & loss account

i am confused regarding what entry to be passed and help me

hello freinds,


i wanna to know whether there is scope for ca's who work in industry treasury deptt and their job profile is preparing MIS & bank reconciliation only.