deferred revenue expenditure


Eway bill rules notified

To be published in the Gazette of India Extraordinary Part II Section 3 Sub section i Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No 27 2017 Central Tax New Delhi the 30th August 2017 G S R E In exercise of the powers conferred by se

Audit due date extended to 31st October 2017

F No 225 270 2017 ITA II Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes North Block ITA II Division New Delhi dated the 31st of August 2017 Order under Section 119 of the Income tax Act 1961 Act The Goods and Services Tax GST has come into effect on 01 07

Extension of due date of GST returns

To be published in the Gazette of India Extraordinary Part II Section 3 Sub section i Government of India Ministry of Finance Department of Revenue Central Board of Excise and Customs Notification No 20 2017 Central Tax New Delhi 08th August 2017 G S R E In exercise of the powers conferred by the su

Task Force on Shell Companies for effectively tackling the malpractices

A Task Force on Shell Companies under the Joint Chairmanship of Revenue Secretary and Secretary Ministry of Corporate Affairs was constituted in February 2017 for effectively tackling the malpractices by shell companies ponzy companies khoka companies in a comprehensive manner adopting whole of the

BRICS countries Heads of Revenue meeting hails GST Reforms

BRICS countries Heads of Revenue Meeting hails GST Reforms being introduced in India Memorandum of Cooperation MOC in respect of tax matters identifying areas of cooperation signed by the BRICS Heads of Revenue at the Meeting held at Hangzhou China Indias GST reform has been hailed by the BRICS coun

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Experts Opinions

Disaalowance of expenditure

SIR Whether interest on late payment of Excise duty is allowable as deduction under Income Tax Act If not please refer the section in Income tax act

Reimbursement of expenditure

Sir In case of reimbursement of expenditure whether GST is applicable i am currently doing concurrent audit and statutory auditors are claiming GST in their bill of reimbursement of expenditure please help in this regard whether GSt is payable on that or not

About revenue ticket

this is rules of government that if I pay above 5000 rs to employee in cash i need to use revenue ticket what in case if i pay more then 5000 rs by online payment if any rules and official letter regarding this please share

Reimbursement of expenditure

As per circular ceiling is mentioned category wise but not mentioed with or without gst for reimbursement of purchase of brief case for official purpose An Officer claim RS 2500 plus GSt towards purchase of brief case Is RS 2500 plus GST amount is reimbursable and employer will get tax credit for re

Deferred tax

In case of calculation of DTA DTL 1 Whether the brought forward losses have to adjusted against the CY profit for the purposes of calculation 2 Whether assets written off would have any impact on the DTA DTL calculations


Revenue recognition

Hi I want to know accounting entries for one scenerio As on 31 01 2017 Company ABC received a contract for delivery of parcels for one year and received rs 120000 in advance for that Conditions of the contract is delivery of upto 100 parcel in the month no extra charges and above this rs 150 per par

medical expenditure

medical expenditure made on treatment of blood cancer of dependent son deduction will be covered under which section and maximum amount

Accounting for Sales on deferred credit terms

Sales has been made on deferred credit the receipt of the same will be received in fixed amount of installment periodically the installment include some sort of interest portion as the amount will be received in 5 years what will be the accounting treatment of this transaction which accounting stand

Revenue recognision - as - 9

A company has given unsecured loan to another company in the month of Dec 16 at 15 interest This loan is repayable on demand In march 17 the amount has been demanded But till the signing of FS neither loan nor interest has been received The borrower has not deducted TDS on the accrual basis As per A

Expense related to pvt ltd company with no revenue

I have a private limited company in the area of software service Now there is no business from this year 2017 18 and revenue would be zero There are 2 directors and no other employee There is some investment in mutual funds in the name of the company My question is 1 What are the basic statuary thin

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GST implications on revenue share under Adsense online advertising of Google

INTRODUCTION In the era of digitized information online advertising has grown leaps and bounds over the decade In this regard Google has introduced revolutionary technology called Google AdSense The said technology can be broadly classified in two types One is AdSense for Search where the said techn

GST Impact on Weekend/Recreational Expenditure

Weekends dont count unless you spend them doing something relaxing With the introduction of the Goods and Services Tax on 1st July 2017 spending on leisure or recreation activities is expected to burn a hole in your pocket Below is a sample illustration Mr X and Mrs X are newly married They are in t

Acquisition of Fixed Assets and their Deferred Tax Impacts

Accounting and Taxation treatment of Interest on borrowings Foreign exchange fluctuations related to acquisition of Fixed Assets and their Deferred Tax Impacts In this discussion we would understand the accounting and taxation treatment of interest on funds borrowed for acquisition of capital assets

Principal Vs Agent - Revenue (Gross or Net?) as per Ind-AS/ IFRS

Many times Goods and Services are being sold rendered by using different kind of arrangements entities based on terms and conditions which could change Revenue Recognition criteria in its entirety and a careful assessment is always required because if any incorrect assessment is done it could have a

GST rollout deferred to 1st July,2017

16 01 2017 is a significant milestone and breakthrough for GST in India The Centre and the states reached a consensus on the dual control issues on Monday i e 16 01 2017 preparing ground for the rollout of the biggest tax reform from 1 July as said Finance Minister Arun Jaitley The states would do 5

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Updated on : 9/15/2017 11:23:13 PM

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