1)We introduce VRS scheme and paid VRS amount to left employee. What will be the accounting entry i.e whole amount debited to P& L a/c and second what effect on computation of income. pls explain

An Assessee has made the following transactions on respective dates:
Booking of flat - June 2003
Getting Allotment letter from builder - July 2003(paid 25% of total amount till this date)
Paid the last installment of the flat - June 2006
Got the possession of the flat - Feb 2007
Got the sale deed registered of flat purchased from builder - March 2007
Sold the same flat - March 2008.

Based on the above info, whether the capital gain on the sale of flat is Long term or Short term????
Quote case law if any....
Please post the reply soon, its urgent

Hi sir/friends, i m ca final new course student and had got exemption in costing in my first attempt in may 2010 and then appeared in nov 2010 for the rest three subjects.But my DT paper was not much good.
i Have not even seen first group subjects in depth.Now m confused whether should i concentrate only in second group or should i allot 4 hours a day to Accounts and FM of the first group..my ISCA and IDT are quite good.. plz someone advise..m mch confused..

Dear Friends,

i am goin to write my CA final exams on May 2012.

could you please suggest whether i can buy MPV book now and start working or some of my friends saying the whole book going to be changes due to AS convergance.

Amalgamation, Consolidation concepts may change which leads to working problems will also change.

please share your thoughts.

A TRUST IS REGISTERED WITH COMMISSIONER OF TRUST OF MUMABI AND REGISTRATION U/S 12A & 80 G ALSO AVIAL IN MUMABI, BUT CHATITABLE ACTIVITIES IS CARRIRED OUT IN AGRA, NOW WE WANT TO TRANSFER OUR TRUST IN AGRA, WHAT IS THE PROCEEDURE ADOPTED

my service provider charge the service tax for full amount of bill, but as per govt. dicesion there are difference in the rate of gas. they refund me difference of rate amount but they not give me refund of service tax amount. they told me to take refund service tax from service tax dept. can i get refund of service tax? if not then what remedy for me to recovery of excess service tax

plz send me reply as earlier as

Hi Experts,
One of our client taken lease for 10 years and the life of the asset is 15 yrs,and they recognized the lease asset as financial lease(because for subtanial period asset has taken on lease) and calcluated dep accordingly .However in the lease agreement it is mentioned that lessee has right to return the asset at any point of time,Now after 3 years our client want to return that lease asset because better machine available in the market than the lease asset.

My query is
1)Now,how to deal with the above situation?2)wat abt the dep which our client provided previously?
3)Suppose instead of returing the lease assset if our client retain the asset for 2 more years in such case it becomes operating lease in such case wat i should do for the entries which they have given based on finacial lease?and wat will be the prosecpective entries?

Pls guide me urgent

I have a company that takes orders in India. We have stock in the USA. We ship it from the US on receipt of money in our bank. The shipper on record is my supplier X. The invoice is raised by me Y. The consignee is the end customer Z.

The invoice is billed to Z by Y in USD and INR equivalent in the invoice. The shipping documents have X as the shipper and Z as the consignee. I do have an invoice from the supplier X to me Y in USD. There is a 4% markup in my invoice to the end customer.

Is this counted as a high sea sale ? I guess not as the sale is before its shipped out. Is there anything wrong in this transaction ? Am i allowed to do a sale prior to receiving the goods while they are in another country ? What are the tax implications ? Basically my objective is to make the end customer the importer of record.

i hav a doubt that a dummy article can get a rank or get good marks in ca final, than a regular article. is it true???? plz remove my doubt help me.

What is the criteria to fall under Registration of VAT & CST ? Pls help me with the procedures and forms to be followed. ( Products are mainly Engineering Pumps and other engineering products.) Also for VAT registration it would be a Gujarat VAT.