Hello,
I have few doubts regarding EPCG LICENSE.
1) Can any one tell me what is the use of invalidation letter & Ammendment Sheet in EPCG LICENCE.

2) As the excise duty at present is 14.42% is it possible to make the payment without excise duty (sale against EPCG LICENCE).But the supplier is not accepting for the same. Can any one tell me why like that.

Regards
k.ravi

Suppose the company have made an export sale in FY 2007-2008 and received the money in dollars in same accounting year.

In FY 2008-09, the company have made another export sale to the above party.

Party has now rejected the goods sold earlier in FY 2007-08 and has deducted the entire export sale amount in dollars in this FY year from the receipt of the another export sale made in the FY 2008-09.

What accounting entry is to be passed in FY 2008-09 as the year FY 2007-08 is already closed?

Whether the foreign exchange gain/loss made in FY 2007-08 needs to be reversed or linked with the gain /loss in FY 2008-09?

at starting, a fresher Company Secretary how much (approx) salary can get....? having 5 yrs experience under a reputed CA firm

Can any one please tell me abt the site where TT buying & TT selling rates of Doller to Indian Rulees can be seen for each day of whole year to comply with AS 11.

mr. X sold goods to Y. freight charges on goods are to be borne by the seller but actually the freight are paid by the purchaser. so, mr X credits Y's a/cs in our book and debits freight expenses.If freight charges require to deduct tds than who has the liability to deduct tax. mr y who has made the payment to transportation co. or mr X who has to actually records the exp.in his book?
plz reply , its urgent....

Hi all,

Suppose Mr. X is an employee of ABC Co. Ltd. The Company has a movie camera (Original cost Rs.60,000/- and W.D.V Rs.50,000/-)and the same is a fixed asset as per books of accounts of the Company. Mr. X has given charge to take care of the movie cam. One day the same has been reported as lost by Mr. X to his employer. Mr. X wants to compensate for this. Accordingly, he has purchased a new movie camera (having higher technical advantage than the previous one) without informing his employer at a cost of Rs.35,000/- and collected the bill in the name of M/s ABC Co. Ltd. He then prays before the management to accept this. Now, my questions are:
1. Would it be right for the ABC Co. Ltd. to accept proposal of Mr. X?
2. If ABC Co. Ltd. accepts the proposal of Mr. X and takes possession of the new movie camera then what accounting entry is require to be passed?

Please reply in detail with correct accounting treatment and figures in respect of above situation.

is a PRIVATE COMPANY liable to deduct TDS on director remuneration?

also, whether is it possible to make such payment without deducting tax at source?

Sir, I am going to write my first chance CA-Final exam in Nov 2008. My principal has given me leave of 130 days starting from July first week. Till this time i was able to finish only DTX, IDT, MICS, and CLSP only. My problem is I am not able to plan a study shedule. If i decide for both groups together then how can i schedule my study time? Is about 120 days sufficient for taking both groups? Or should i go for only one group? Please advise?

I would like to know, if a person gets his retirement and availed the commuted pension which is 1/3 of his pension for
10yrs besides his periodical pension.(2/3)

Will he be start receiving back his 1/3 pension at a specified time after the completion of 10yrs, if he is alive.

OR
will he receive nothing, once availed his commuted pension (ie.1/3 part), after 10yrs, if he is alive?

From:Swati

Whether Fringe benefit is applicable on internet charges?