Can u plz. explain difference between ammortisation of assets and impairment of assets.

In case of an educational Institution a development fund is created and it can be used for purchase of a machinery. The credit balance in the development fund is represented by an equal debit balance in a separate bank balance.

A machine has been purchased. The normal accounting entry would be, debit fixed asset and credit bank account.Now the question arises how to reduce the Development fund ledger balance as bank balance has already reduced due to payment made for purchase of a machine.

so query is:

If we debit Development Fund, which account is to be credited.

If a hyderabad party has purchased material from Karnata & supplied in the karanataka state only for Job work.
Whether the CST or Vat applicable to the Hyderabad Party?

In a company, bonus amount to employees are paid in the name of their spouse (non-employees).The said amount was booked under bonus a/c. Will the amount so paid be clubbed in the hands of the employee?

I RECENTLY GOT A NEW CLIENT - A MEDICINE CUM GENERAL RETAILER. HE IS UNDER COMPOSITION
MY QUERY IS REGARDING HOW TO PAY TAX
EG: TOTAL SALES 7 LAKHS (2 LAKHS GENERAL SALES)
TOTAL PURCHASES 6 LAKHS (1.5 LAKHS GENERAL PURCHASES)

WAT WOULD BE THE TAX RATE & WOULD MEDICINE SALES BE EXEMPT. HOW DO I SHOWN IN VAT RETURNS?

I have received dividend on 19.06.2008 from a Domestic company as a share holder amount of Rs.1,15,000/- for the period 2006-07 chequed dated 01.01.2008.
Please tell me that the dividend income should be recognised for which year ?

service provider provides both exempted and taxable output service and does not maintain seperate accounts.

out put service tax is Rs.20000
Input service tax is Rs.16000

How much tax is to be paid?
How much credit will the assessee get?

If whole credit of Rs.16000 is not available then whether the balance credit amount lapse?

our compay joint venture with malasiya company
company financial year from 01-07-2007 to 30-06-2008.
we have made provision on defeered tax in 31-03-2008 to 30-06-2008.
and at the same time It and FBt Provisions also.

Plase clarify my doubt
thank u sir

our compay joint venture with malasiya company, but books maintained in India.
company financial year from 01-07-2007 to 30-06-2008.
we have made provision on defeered tax in 31-03-2008 to 30-06-2008.
and at the same time It and FBt Provisions also.

Plase clarify my doubt
thank u sir

our compay joint venture with malasiya company, but books maintained in India.
company financial year from 01-07-2007 to 30-06-2008.
we have made provision on defeered tax in 31-03-2008 to 30-06-2008.
and at the same time It and FBt Provisions also.

Plase clarify my doubt
thank u sir