media industry
This query is : Resolved
06 May 2008
Suppose that there's a tv channel which buys the right to telecast a movie say twice in a year for three years and pays the entire amount in the first yer say Rs. 3,00,000....
Will this entire amount be allowed in the year of payment if the tv channel follows accrual system of accounting???
Kindly support will relevant sections & case studies...
Will this entire amount be allowed in the year of payment if the tv channel follows accrual system of accounting???
Kindly support will relevant sections & case studies...
07 May 2008
In my opinion, if this agreement is for certain no. of telecast with no time limit, proportionate expenses should be booked every time when movie is telecasted. If there is time limit also like twice telecast within 1 year, book proportionate expenditure every time when movie is telecasted and if and movie is telecasted only once till the end of period, rest expenditure should be booked on expiry of period.
If agreement is for certain period with unlimited telecast, proportional expenditure should be booked in every accounting period under agreement period.
If agreement is for certain period with unlimited telecast, proportional expenditure should be booked in every accounting period under agreement period.
30 November 2009
fully agree with CA. Yayati Tyagi
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR 2 Short Term gain & Long term gain
- Reporting Income under Section 44ADA
- Off Market debit and credit transaction
- Itr 1 processing
- Showing Gift from relative in ITR for this year
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- ITR returnFY25-26
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Article ship defecit
- Bank Accounts in Balance Sheet for ITR 3
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
