Bhaskaran Chackrapani Warrier's Expert Profile

Queries Replied : 22307

Graduate of Kerala University.

Fellow member of ICAI.

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Ajay Chavan says : Confusion over Career
Dear sir, I am working with one of the big 4 in SAP implementation, but we were not having any project from last 1 year..frustrated with this, i decided to leave SAP ( I think now boom period is over and not much work left..) Now when I have decided to leave this field and join System/IT audit , we got one SAP implementation project where I will be FI consultant. Please suggest me, that whether I should stay in SAP (my friends suggesting me to stay since there is good scope for this field) or shall I go for system/IT audit.

SAJAN DIDWANIA says : > Long term capital gain on sale of aprtt - ref.dt
Sir Pls clarify if someone books an apartment of Unitech in Gurgaon and after construction the conveyance deed done in Dec.2008 but as he dies immediately after registry, his daughter took possession of aptt in July 2009 as per possession letter of builder. Tell me 36 month will be taken from which date to be eligible for availing LONG TERM CAPITAL GAIN on sale of this apartment. Can it be sold in January 2012 i.e 36 months after Registry date or She has to wait till July 2012 i.e 36 months from Date of possession letter from builder to him. An early views will be highly appreciated.

Rajeev Ranjan says : Duty drawback
Sir, we are auditor for rent a cab company our client has got Rs. 71000 duty drawback for purchase of a car, what should the accounting treatment for the same ?

Maulin says : Subsidy
My client purchase machinary against loan for Rs.2500000. Subsidy received for 625000 and it is deposited in FD.What will be book entries? I made machinery A/c Dr 2500000 to Loan A/c Fd A/c Dr625000 to Fixed Asset A/c 625000 is it correct?