Around 4-5 months back i have purchased 6 new cars for my staff. i m now planning to take 2 years extended warranty for new office cars from the date of expiry of normal warranty of 2 years. Rs.10599/- to be paid per car towards extended warranty.

my query is

a) Whether this amount is to be capitalized or not.
b) If it is to be treated as revenue expenditure, TDS is applicable or not

There are Rs. 85000/- of Service tax
Payable and input service tax of Rs. 8000/- in F.Y 2010-2011.

Service tax payable Rs. 85000/- shown in the balance sheet but neither input service tax credit of Rs. 8000/- set off against service tax payable nor shown in balance sheet.

Now service tax payment made of Rs. 77000/- after set off input service tax of Rs. 8000/- in 2011-2012. Hence Balance Shown in Service tax Payable A/c is Rs. 8000/- in F.Y 2011-2012.

How to treat input service tax of Rs. 8000/- in F.Y. 2011-2012

Please Reply soon....

I have job in a CA firm , becoz I am doing job in a company last 2yrs but i dont have knowledge of direct & indirect tax ,

i am completed Mcom, i am stay in thane, pls reply

in partnership firm how many i show partners salary

if advance given for purchased of fixed asset was in foreign currency when US$ was RS 50. But when asset arrived in india the value of US$ was RS. 55 resulting into forex gain . What shall be the accounting treatment .

I have proposed 2 strategic growth options for my company. These options are now evaluated using the Discounted cash flow [DCF] method to determine the value I can get for the investment i have put in at the end of 5 years [the term I have considered for the project].

The discounted cash flow needs to use the " weighted average cost of capital"[WACC] to determine the discount factor that will be used to determine the present value of the investment.

Now, WACC is usually possible to evaluated only if the company is stock listed. Our company being a private, non listed company, we do not have any values for Risk free rate, beta, or equity risk premium which are requried in WACC determination.

IN the meanwhile, if the WACC cannot be used, is there any process of determining the discount factor for the DCF method to be applied. I can assume a factor but then I will need to give my reasoning for the same.

Dear sir,

I have proprieter ship firm & his F.y.2009-10 net prfit 400000 than me amintain books of account in F.Y.2010-11 than how this profit entry

Grand Softex Ltd. acquired 30% of East softex eqity shares for Rs. 2,00,000 on 1-6-09. During the financial year 2008-2009 East earned Rs.80,000 and declared dividends of Rs.50,000 on 12-8-2009. East reported earning of Rs.3,00,000 for the financial year2009-10 and declared dividend of Rs.60,000. Calculate the carrying amount of investment in seperate financial statement of Grand softex Ltd and in consolidated financial statement on 31-3-2010.
Pls help me out by giving the solution with explanation.

Am working in construction company our client is govemnment client my question is
We have prepared the Sales RA Bill for the month of 31.03.2012, but we are submitted to client april’12 2nd only,

Secondly the Client has to be certifed the RA Bill for the month April’12 only

Please advice us for which month we will book the Revenue whether it is March’12 or April’12

what entries of income tax passed by a company.