CAclubindia

S.Srinivasaraghavan's Expert Profile

Queries Replied : 3560

About me

I am a Chartered Accountant, Cost Accountant and a Company Secretary.

I am attached to Amalgamations group of Chennai. I am also on the Board of some of their group companies, besides being a CFO & CS of Simpson and Company Ltd..

Interested in Carnatic Music, Deep reading of Science and Spiritual books and reconciling scientific truths with spiritual experiences, Travel, Games like tennis, cards etc., Watching documentaries on Animal plannet, Discovery, National geographic etc., Internet browsing - websites of Wikipedia, Nature, Astronomy and Professional forums.

What kinds of questions I can and can't answer?

My area of expertise

My experience in the area (years):

Organizations I belong to:

Publications or writing which has appeared :

Educational credentials:

Award & Honors:

Ashok says : Foreign Exchange losss
Sir, I can not revised the return bcoz due to revised the return my PL will be in loss and that can not possible for the firm. so what is the way to resolve during the current year account book

DINESH KUMAR says : internal audit
thanks. I agree with you

S.Srinivasaraghavan says : Preoperative expenses
Dear Mr.Sandeep, Preoperative expenses relating to establishment of fixed assets can be allocated on the basis of the respective values of fixed assets if the expenditure can not be identified to specific assets. Depreciation will be on asset value inclusive of depreciation.

S.Srinivasaraghavan says : Subsidy towards machines
Dear Mr.Amrik Singh, Please clarify whether the grants are specific to machines.

AMRIK SINGH says : subsidy received
Sir, That the company has SSI unit at Greater Noida (U.P.) and received subsidy through investment grant under intergrated development of leather sector scheme (IDLSS) from Govt. of India toward purchase/ installation of machines. I want to know how I should account for and pass the entries of the amount of incentive received. This incentive is taxable or non taxable. machinery cost of Rs.30.00 Lacs, Incentive received Rs.9.00 Lacs i.e. 30% of cost of machinery. please calculate the written down value of machinery and depreication Sir, requested you to resolve the query urgently because this query relate to financil year 2007-08 with regards AMRIK SINGH