In some annual reports we found balance sheet as at ....... and in some Balance sheet as on...... .
Whether both are correct or not and why
A Co. is basically an investment company. It's nature of business is to acquire, hold shares and trade in mutual funds. The sole income is dividend. While computing tax, the entire income is taken to income from other sources and is exempt u/s 10(34). So though there is huge book profits (dividend income), for tax computation the Profits and gains from business or profession is a LOSS. This happens year after year. Is it right to create deferred tax on the brought forward business losses?
How about creating deferred tax asset / liability on depreciation. i.e. timing difference b/w book depreciation and tax depreciation.. And moreover how the above mentioned company get a chance to show profits as per tax computation? Because only if it changes it's nature of business from investment to trading co. then will the dividend income be treated as PGBP. It is quite obvious that there is no question of creation of deferred tax asset/liability to this investment company as per AS-22. Am i right?
Dear Sir,
I am using Tally9 Multi user accounting package, When preparing accounting reports from Trial Balance, I tried to design a excel sheet that will fetch data from text file generated from tally9 in text format having
Head of account Dr amount Cr Amount
I am using powertools addin to remove n leading character to remove (-) symbol infront of debit balances.
When other users create a ledger accounts at their own, I can't resist them to create that but my excel template created by fails to show whether that head of account is matches with correct ledger account with respective ledger amount. Whenever I use Tools -> Get External data will update the accounting reports, shows some error.
I came to know that lookup, match will be helpful but I dont know how to use it
Kindly help me
Kannan.N
CAN WE CONSIDER EMPLOYEES VISA CHARGES FOR FBT PAYMENT..?
Dear experts,
example we have a machinery a cost of rs. 10lacs had lossed in fire and this machinery was insured.
what entry we will provide in profit & loss a/c once for loss in fire and one when we will be receiving a claim from insurance company
There are two co's A and B. A purchase shares in B but the shares are not alloted by 31st March.
Whats the accounting treatment in both the co's as for A its can't be treated as investment as shares are not alloted and for B its no share issued.
How the presentation be made in both the B/S.
Is depreciation chargeable on the assets of NGO? Also please suggest from where I can get the information regarding the same. That is from some kind of act??
Whether loan given can be written off against the general reserve.
PLZ EXPLAIN HOW TO CONVERT/TRANSFER DATA FROM TALLY 4.5 2 TALLY 7.2
THNX
RUPESH
HI, I AM ANKIT, DELHI.
MY QUERY IS HOW CAN WE DO THE ACCOUNTING OF SERVICE TAX IN OUR BOOK. PLZ. ADVICE ME.
THANKS
ANKIT
Live Course on Invoice Management System (IMS) - 2nd Batch(With Recording)
Balance sheet