As per accounting for fixed assets, it is clear that when u have credit available against the taxes paid while purchasing the said asset the credit may be reduced from the cost.. But my question is that is this relevant that there should a time gap between the purchase of asset & the date of put to use ?? Where the credit may be availed. what if the date of purchase & put to use are same.?? bcoz on that date actually u have not availed the credit but u wud claim in the coming days I.e when u wud file return.. Can any one please help me n xplain the actual concept of it..

If i had purchased an asset on say for example 1st Jan 2010 i.e FY 09-10 and now for FY 14-15 i have to apply depreciation as per Sch II nw for calculating the remaining useful life of that asset what shall be my approach? Should i take complete FY 09-10 in expired life or should i take only 3 months of that yr, i.e in short whether the actual no. of days asset used concept prevail here?

Do we have to make different appointment of auditor for audit of consolidated financial statement if the same auditor has been appointed to audit standalone financial statement of Parent Company??

Dear All,

Can statutory auditor be appointed as Tax Auditor? Is there any requirement to pass a Board Resolution for such appointment.

Please provide your valuable comments at the earlies.

Thanks & Regards,

what is the treatment for diesel used for 'generator' on petrol pump. it should be shown at cost price. but meter runs only @ selling price. give your views about correct treatment ?

Hello Everyone.. I Would Like To Know Whether The Incentives Taxable Or Not..? Person Working In Consultant Firm,Get Incentives As Per Recruitement.. Either 2% Or 3%... If His Monthly Gross Is 15000 And Getting Incentive As 4000 Or 5000 On Recruitement Of Candidate.. Is That Be Taxable.. Kindly Help...

We, wish to know a qualified chartered accountant is needed to audit the accounts of Apartment owners Association , which is registered under the provisions of the Travancore -
Cochin Literary Scientific and Charitable Societies Registration Act, 1955.Our income is below Rs20 lakhs and most amount is spent for the maintenance,wages etc.The balance amount is below Rs3 lakhs in year.

a company is already appointed one auditor firm for one year but now the company wants to appoint one more auditor firm for next five years. Can a company appoint one more auditor firm?

what is bank guarantee? how it can be verified during concurrent audit? how to calculate interest?

if a flat owner sold a flat than.shares amt suppose to returned to him & a collect a new shares amt from new flat owner by a society