On of my client places an order for Machinery when USD rate was INR48.
Payment terms were 30% after receipt of proforma invoice, 60% after 2 months and remaining 10% when Container is unloaded in India.
My client made payments accordingly and the rate increased at each of the payment compared to INR 48 = USD 1.
I know that after 31.3.2011, any kind of Foreign exchange loss in debited to P&L A/c. by Foreign Exchange Translation Loss.
But, here the commercial invoice is not received by my client when he made payments and he got possession of machinery only after he made all the payment.
Does he need to recognize the loss in P&L A/c. or he can add to the Fixed Assets cost of the Machinery?

Thank you in advance..

Dear Sir,

I request somebody to clarify
1) From when New Companies Act is applicable?
2) An Auditor can continue as Auditor of a company for 5 years as per new companies act. Is this rule is applicable from current year? Or if a person is auditing a company from last 2 years , he can continue only for balance 3 years?

Thanking You
NRK Reddy

if a company has not deposited the TDS for the FY 2012-13 till date then what are the consequences of failure.
Kindly explain the every aspect and penalties of this faliure and also suggest the remedies for the same.

plz help in this regard....

Negative list service of Sevices relating to Transportation of passengers also includes pantry services if charged separately from fare bill as given rule 12 of POPS, 2012.

ARE DOCTORS EXEMPT FROM THE PREVIEW OF SERVICE TAX?? PLEASE CLARIFY

My self is Labour Contractor and I have received Contract fees Rs.80,00,000 + Service Tax collected and Paid Rs 9,88,800 and Net profit is Rs. 6,70,000 during FY 2012-2013. Should my books are applicable under Tax Audit ? Please help me Sirs,

respected sir what are the proceedure to take transfer after one year.

sir what is the procedure of industrial training

Suppose, My turnover is less than 10 lacs during a particular period & client asks for Bill then shall I give him bill or what shall i do in this case

Dear Sir/Madam,

Can u please give me details regarding Statement pursuant exemption granted u/s. 212(8) relating to Subsidiary Companies.:-

Regarding for :- Total Assets (Fixed Assets + Current Assets) As per new schedule VI can u send me details which can i add for fixed assets + current assets.