A company has got n ERP system insalled.

Agreement with vendor says that it will provide Implementation services.

And, it will also provide Support Services after the said system goes live.

Now, I am acceptable to capitalising Implementation Cost.

But, I am of the view that cost of Support Services should not be capitalised, since, even with support services, the asset is ready for use.

However, Support Services are of essential nature without which running the software becomes very difficult for the company.

Kindly advise as to whether Support Services should be capitalised??

Give reasons as well.

can anyone tell me that what is way to get pan card when there is no documents of pancard i.e.niether pancard nor acknowledgement nor any intimation letter from department.But the pan number is known

WE HAVE EXPORTED PETROLEUM PRODUCTS OUT OF INDIA, THROUGH MARINE TANKERS WHEREIN WHICH TIME CONSUMED FOR MORE THAN ALLOWD TIME OF 36 HOURS LEADS TO INCURRING OF DEMURRAGE. DEMURRAGE WILL BE PAID TO BUYER WHO IN TURN PAYS THE SAME TO THE TRANSPORTER.

PLEASE ADVISE ME ABOUT THE TAXABILITY OF THE SAME. IS PAN REQUIRED TO BE TAKEN BY BUYER?

Hey everyone
Enjoying Hot summers ??????????

I have a problem in Busy Software.
when I open the P/L a/c in busy then profit is Rs. 10500/-
and when I open Balance Sheet then Profit show 9700/-. I did everything which I can do but I didn't find the mistake.
So if anyone can help me please help me.

I am waiting for your reply.

Thanks in advance..
Enjoy the hot summer..
Mukesh

Refer to the following provisions of Regulation 54 regarding secondment of articles:

1.A principal, with the consent of the articled assistant, may depute the latter for training for a period not exceeding six months to a member eligible to engage and train an articled clerk or articled assistant or apprentice, by whatever name called, under the bye-laws of an institution or body etc. set up in the respective countries under the relevant Statutes.

2.The articled clerk shall be seconded only to a member who is entitled to train one or more articled clerks in his own right or to a member in industry who is entitled to train one or more industrial trainees.

3. The member to whom the articled clerk is seconded will not be entitled to train more than two such clerks on secondment at a time.

4.
(a) The maximum period of secondment shall be one year which may be served with a single eligible member.
(b) The Council may permit secondment with more than one such member provided the minimum period of secondment shall be four months and the aggregate period served on secondment with such members shall not exceed one year.


In point 1 it is mentioned that max. period of secondment shall be 6 months under 1 principal where as in point. 4 a. it specifies that one may be seconded under a principal for 1 year..

What is the exact term of secondment????

The Billed amount in a year is Rs.900000, But the amount received in the same year is more than Rs.1000000, i.e. it is like advance without billing.
Whether that entity is liable for registration???
If yes then when it is liable?

Kindly guide us the treatment of VAT on opening & closing Stocks in DVAT 16 through example.

Mr. A, B & C r having 1/3rd share in Partnership firm owing land & building. App. value 1 Cr. Mr. A is selling his share to Mr. B & getting Rs. 5 Lacs in addition to Capital. Post Retirement Mr. B will have 2/3rd share & Mr. C 1/3rd share. Position of tax liability in the hands of firm as well as partners. There is no change in Mr. C share. Whether goodwill A/c is to be generated in firm Books. Fair market value of Land & Building on change of Partnership is 1.25 Cr.

whether overhauling of existing plant and machinery is a revenue,capital or deferred revenue expenditure??

and what if due to such overhauling expected life increases by 6 years??

A firm as a three Partners. A partner is retiring. The retiring partner has credit balance of Rs. 10lacs in the firm. But firm is giving him 20 lacs. The Firm will enter into an agreement with the outgoing partner that he will not do the same business for 10 years and not entitled to use the firm logo and name.I want to know the following:-
1) Since the firm is paying him 10 lacs more than his actual balance, whether the excess amount is goodwili. Is firm claim that amount amount as an expenditure.

2) is partner has to pay tax on the excess amount.