As per Section 15 of Bonus Act, if allocable surplus exceeds the amount of maximum bonus payable to the employees in the establishment under section 11. the excess shall, subject to a limit of 20% of the total salary or wages of the employees employed in the establishment in that accounting year , be carried forward for being set-on inthe succedding accounting year .

I want to know that

what means about Total Salary or wages of the employees - whether only basic or total salary including benefits & perquisites.

If company is already paying 20% bonus then also the same amount shall be c/f .

Please tell asap.

Thanks & Regards

CA. B.K.BANSAL

A public sector company has acquired a huge land from the state govt., where the company has set up its plat, staff quarter,recreation club & park,guest house and others. Keeping to the various provision laid down in the income tax act,any body can explain the applicability of wealth tax act for calculation of wealth tax on such industrial land those have already used for staff quarter , guest house and those have remain vacent for future development.

sir,
as we r working as a housing developers company in Bhopal, my query is,
we r planning for established a store deptt . in our site construction,
so how we can make a strong internal control system in store deptt?

WHAT IS THE ACCOUNTING TREATMENT OF CONVERSION CHARGES AND COMMISSION CHARGED BY BANK FOR CONVERTING THE RUPEES INTO DOLLERfor payment to creditor FORM WHOM WE PURCHASED THE NEW ASSETS FROM OTHER COUNTRY ( IMPORT )

WHAT IS THE ACCOUNTING TREATMENT OF CONVERSION CHARGES AND COMMISSION CHARGED BY BANK FOR CONVERTING THE RUPEES INTO DOLLERfor payment to creditor FORM WHOM WE PURCHASED THE NEW ASSETS FROM OTHER COUNTRY ( IMPORT )

dear sir,
i m working in a emerging real estate company and i m only 1 CA of that co.,
for my co. i have to design a MANAGEMENT STRUCTURE OF ACCT. AND FINANCE.
can any body suggest me a identical manegerial structure?
if u have idea please reply me.

I am going to appear in May 2008, for my PE2.

My revision for A/c and the Gr2 subjects are good. But Law & Auditing are bothering me. Can you pls tell me, how to prepare for these 2 subjects within a short time?

Thanks.

WHAT IS THE ACCOUNTING TREATMENT OF CONVERSION CHARGES AND COMMISSION CHARGED BY BANK FOR CONVERTING THE RUPEES INTO DOLLERfor payment to creditor FORM WHOM WE PURCHASED THE NEW ASSETS FROM OTHER COUNTRY ( IMPORT )

I am a Chartered Accountant working in a real estate industry.
Can any one tell me the books from where I can read as to how the borrowings are made by the companies along with the types and the contents of documents to be prepared to obtain a loan. Along with that, how to prepare such documents from the point of view of the company & what points have to be taken into consideration while drafting the documents.

Thanks & regards

Dear Sir,

can we adjust short term gain fund write/off against business losses in same financial year.

Regards,

Lalit kr Sharma