Dear All,

A company is having unamortised expenses to the extent not written off Rs 8,00,000as on 31.03.2012, which will be amortised in the next two years. So how we should show the balance, Either total 8 lacs as noncurrent assets or 4lacs as current and 4lacs as non current.

Please help me out with this querry

Thanks in advance..

Sir,
Whether the following expenses are to be capitalised in respect to a manufacturing company.
Ex : Detention charges, Demurrage charges, Import warehouse charges, Packing charges on purchases, Fork lift charges etc

i have 5 firms of textile mfg unit
my turnover 57-58 lacs not morethan 60lacs in
each firm.actual income is 5-6% of turn over.
so,i have make audit or not.i have make return file last ay to 8% of total turn over.
my ca says if we r not going for 8% then audit will be compulsory.is this true? if yes
then whats meaning of audit limit upto 1 crore.

if a partnership firm have loss of 1500 rs with turn over of Rs. 650000 , is audit nacessary

what is meant by block box approach and white box approach

Please help me in the following issue..

is there any minimum amount for which bill/invoice should be maintained for business expenses recorded in the books? OR

the voucher prepared by the auditee (client) is sufficient.

Hi Sir,

Last year we showed work-in-progress which is work done but invoice not raised(in the month of March)but this year also not raised for that particular amount because work damaged so now we need to show as bad debts so is it possible or not please suggest me if yes how to pass the entry

Dear Experts,
One of my client (Branch of Limited Company) opens a new branch in UP.

Its starts operation from June 2011.But Opens branch from November 2010 however they had not prepared books of accounts for 31 mar 2011.
My querries is that -
1.Is it new branch treated for this year 2011-12?
2. They paid expenditure upto 31 mar 2011 for fixed Assets and also made provision for exp payable for Salary and Rent becaz they hired employees and take office on Rent?
3.Hence Opening Balances shown in opening 1-4 2011.Is it correct.

Kindly provide the important area to be concentrated for CENVAT credit under sec.14aa for auto mobile industry. please specify the area wise attention for input credit, input services & capital goods for availing credit & reversal of credit

Hello,
Misc Expenditure has been brought forward from previous years.
Now as far as my knowledge is concerned, no specific treatment for disclosure is given in Revised Sch VI.

So I needed to know the disclosure requirement as per Revised Sch VI i.e. whether it would be shown in Non Current Assets or Other Current Assets