I am maintaining ACCOUNTS WITH INVENTORY.
Is it required to enter Closing Stock at the end of every Year in the STOCK LEDGER ? or does it do it automatically ?

I have just been handed accounts from previous accountant.Am seeing a big balance in BALANCE SHEET under Forex GAIN/LOSS...
Is there any method to delete that ?
I think its because the previous accountant didnt put a Currency Symbol when entering voucher of MULTI Currency....
Please help !

Dear Sir/Madam,

Can any one please tell me the rate of Excise Duty and Karnataka VAT chargeable by a manufacturer under excise on Note Book / Desk Top Computer. Please provide the relevant Notification numbers also for supporting.

Thanks & Regards,

Venkat

Assessee purchased a new electric motor for supplying raw material to the machine inlieu of rewind of old motor. Rewinding is not possible for many times hence after 2-3 rewinding assessee has replaced it. As per my opinion it is revenue exp whether my contention is right? Please elaborate

please clear me Vat tax lible in job work done, we have given only fabric to Job worker and he used his material like thread,button,hook,pocketing,zip etc. so my question is that how many percentage of Vat he will add on their Job labour bill and what to do in my end(we are manufacture-Registered)

Can someone guide me with relevant sec. or Rule, which date should be accept as the date of payment of TDS, whether cheque date or The date of clearing of cheque.


Thanks,
Abhishek

pls send me anyone tds challan 281.

A company shifted itself to new premises.The assets of old premises appearing in accounts proved worthless.The company is neither in a position to sell these assets nor it is able to use them.How these worthless assets be treated in accounts??

Assesse paid salry of Rs. 3,00,000 to an employee.Employee status is resident in India and salary paid by employer through cheque in India without deducting TDS U/s 192.
Deduction is allowed to assesse for calculating his businee income for salry paid w/o deducting TDS u/s 192. If yes ,refer section and case law in this matter.

The company's financial year ends on December 31. Now it has received an invoice on September 2007 from one of its service provider for services to be performed in the year 2008( invoiced in advance) It has not not paid the amount of the invoice till December 31 2007, it has paid only in March 2008. The expenditure purely pertains to the period commencing January 1 2008. Now the question is how the company will incorporate the effect of this invoice in the accounts prepared for the year ended 31.12.2007. It should not book this expenditure(and show as an outstanding item) in the year 2007 because it does not relate to this period. How the company should give effect to this invoice in the accounts prepeared for the year ended 31.12.2007? Please provide some guidance in this respect.