DEAR SIR

WE ARE PVT LTD CO, WE PURCHASED CCTV CAMERA OF RS 288000/- 12.5% VAT IS APPLICABLE ON IT, SIR TELL ME

1 CAN WE AVAIL BENIFIT OF VAT
2 THIS EXP SHOULD BE CAPITLIZED OR REVENUE EXP

THANKS & REGARDS

Respected Sir,

Purchase of critical spares is kept as stand by spares. can it be capitalized, if so at what point of time it should be capitalized, whether at the time of purchase or that spares put in to use.

Pls provide me with Accounting Standard reference.

Kindly do the needful.

A.y. 2013-14 agar advance tax 100000/- bhar te he aur 40000/- t.d.s . kata hua he. aur taxeble income nil aati he to koi problem he ya nahi ?

How is the job of ERP Implementation for a fresh Chartered Accountant.

I have this job offer from a reputed company. It has a pay package of
5,00,000 p.a. and a bond of 2Years. If we break the bond, the compensation amount is Rs. 2,00,000.
Should I accept the offer?
Please guide me with a right solution asap.

our Company is a Public Ltd Co. and is now venturing into a new business of that of a developer.

1. It will buy/contract out /JV/Lease out land and hire Architects/Engineers etc and construct buildings Resi/Commercial etc.

2. it also intends to take jobs as a contractor and supplier for such construction projects.

3. It also intends to import/purchase/Sale/Export/locally arrange /building materials for the purpose of construction.

4. It intends to Sell/broker/resell etc the constructed area.

Please also note that the Co. is also in several other businesses including Import /Export of different products as Optical Lenses, Software, Forest Materials, Pipes, Valves, Jewellery etc

my query is

1.what should the Main object be for this new business.
2. How many Main object can a company have ? This company already has 3 for the above mentioned continuing businesses.

i registered for pcc and articleship in feb 2009 thereafter i terminated my articleship after 4 months .now i converted into ipcc and cleared in may 2011 and started again article ship in jan 2012 .kindly tell me can i appear for nov 13 final exam.
thanks in advance.

Dear Sir,

suppose a person getting monthly salary of rs. 50,000/-
and his break up is given below

basic 20,000/-
HRA 15,000/-
conveyance 10,000/-
Medical reimb. 5,000/-

medical allowance is fully taxable but
as far as medical reimb. is concerned it is exempted up to 15000/-

so my query is this, if he provides medical bill up to rs. 15,000/- as reimbursement, can he get deduction of rs. 15,000/-

because reimbursement is fixed in a nature per month
i think it is taxable ?
but some people says it is non taxable and he can get deduction of rs. 15000/-

but i think reimbursement is apart from salary and it can not be included in salary ,and it is non taxable if employee provide bills for getting these deduction

and these reimbursement is sepretaly shown as medical exp in the books of company not as part of salary or salary ?


Expert Plese reply

Sir, our company booked dealers tour in dubai total packages given to agent, agent was raised invoice, agent invoice applicable TDS or not, if applicable how much please give to massage

thanking you
Kanaka Reddy.B

Dear Sir(s),

My query is that what shall be the treatment of excess amount that we pay to the retiring partner over and above his capital contribution in the partnership firm.....

For instance, there is already a firm having a capital of say Rs 1000/- and now some new partners shall be inducted who shall introduce the capital of say Rs 1500/- and then the old partners shall retire from the firm and shall be paid by the firm Rs 1500/- against their contribution of Rs 1000/-...

My query is what shall be the treatment of Rs 500/- extra/premium paid by the firm to the partners in the hands of the partners?????

Also what shall be the tax treatment, is the firm liable to deduct some TDS etc on such an extra payment????

Please reply ASAP

Thanks & Regards

Hi,,,

Anyone can tell me
company bought a Sonic firewall (software) costing Rs. 70,000 with economic life of 3 years which is mentioned by vendor in their invoice and company has booked all 70000 in the year of purchase in profit & loss account instead to defer or other

now i want to know what should be the accounting treatment
whether it should have been comes under As 26 Intangible assets and amortised over three years of life or any other accounting treatment will be permissible