As per as 11 foreign exchange difference is to be shown separately.

When some exchange rate is arise on purchase of goods, and if same goods is in stock at the end of closing period.

The payment for same is outstanding on closing date.

Now for example purchase of goods made on 25th March for USD 500000, exchange rate is 45 on date of purchase.

if exchange rate as on 31-03-09 is 45.40 we have to make provission for exchange rate differnce by .40 * 500000 USD.

the material cost shown 500000USD* 45
and exchange rate difference shown 500000USD*.40

the company has policy to show exchange differnce in head purchase expenses and adding the same in cost of material consumed.

the issue is whether the exchange difference is included in valuation of inventory or not.

One my friend is lawer he is not filling IT return till now. this year he is going to file return but he did not have current bank a/c.he is using saving a/c which is combind with his father. As his income comes under profesional income so he will file ITR 4.
with balancesheet and p/l a/c.

May i know is complsury to have current a/c.
if yes than what to do

Is there any site like CACLUBINDIA to share knowledge and other usefull information ?

if an enterprise wanted to shift their office building to a new building, and the new building(under construction) was owned by managing director of the enterprise.
My query was whether the enterprise booked this construction expenditure in the enterprise books of accounts(rent is paid by the enterprise) or is there any other treatment for this

sir.
i am working is an accountant in one reputed manufacturing unit.can u guide me
i give work to printers for print of office stationary/documents/visting cards.
i dont have any contract. is there tds is applicable ?

what are the sources from which bonus shares can be issued in case of a unlisted company and can revaluation reserve be utilised to issue bonus shares.

A Pvt Co. is using the Trademark of one of its director and they are paying royalty to her, so in this case as per the Companies Act , does it attracts provisions of sec 297(Related Party Transaction)?or does this attracts any other provisions of Co. Law???

The director is also the relative of one of the directors of the company.

Is trademark a movable property??

Pls solve this query

Regards

Priya

Dear friends ,

any one tell me, Goods & service Tax will applicable from 1st April 2010. Then which Indirect Tax will gone ? i.e. is State VAT, CST ?

pls help me...

Dear Sir/M'am

What are the major points of difference between Diract Tax Code (DTC) and Income Tax Act (IT Act)? Is DTC has actually simplified the complexity of the IT Act?

Thanks in advance

Regards

whether surcharge is abolished for the full year for 2009-10 or from date of budget passed ?