Purchase a computer on credit for rs. 1 lac on 1/4/2006 and charge full depreciation @ 40% in 2006-07. In April 2007 we got a Rs. 20000 discount. Now should we written back the depreciation in current year on Rs. 20000 which hadbeen charged in last year?

pls explain

How the functions of Accountant and project accountant differ?

Hi,
I am qualified CA and I want to join a firm or Co., whatever, where I can get the exposure of IFRS.
Can any one guide me.....

Thanks,
CA Abhishek Jain

Many subsidiary companies located in India close their books on monthly basis and report to parent company located outside India.


In this regard, please let me know how do they handle issues like, gratuity(based on actuarial valuation done by third party),auditors fees ,Foreign exchange loss on fixed assets,income tax provision etc, which are known only at the end of the year in their monthly accounts.


Thanks

I want to file a memorandum of my client under this act, who is cover under micro enterprises, can any body help what is the procedure for registration under this act, and i also need a draft copy of memorandum,

i also want to know what documents to be filed for this registration

Hi all,

I need to know the entries related to TDS. The issue is- one exp is disallowed due to non deduction of tax on the same. Now the client paid the tax on the same on the currnet year. Now how to show this in to the books

Dear Sirs/friends,

Wishing you a very Good day.


In our Private Ltd Coy, for the F/Y: 2004-05, We deducted an amount of Rs.95,546/- as TDS and we issued Form-16A to the Deductees.

The above liability paid in the foll.F/Y: 2005-06 on 25.05.2005 vide UBI Che.no: 721695.

In the mean time our office staff wrongly paid an amount of Rs.93,378/- on 31.05.2005 vide UBI che.No: 721700.

For the above Rs.93,378/- we have not issued any Form-16A to any body.

Hence, in my opinion it should be treated as an unclaimed tax, deposited paid by us.

We’re keeping that debit amount in our Balance Sheet under the ledger head “ TDS-Debit” for the past F/Y’s: 2005-06,2006-07,2007-08.

Now as a final decision we want to know why it not claimable & how it should be written-off in this f/y: 2008-09.


Kindly share your expert knowledge with us to enable us to save the above unclaimed amount.

Dear sir

I have read that in the valuation of current investments, if market price of the investment is increased subsequently

profits can be reversed if it was reduced due to lower market price than the cost.

I want to know how can there be any subsequent valuation of current investment as curent investments are only held for a period of one year and valuation can only be done on the balance sheet date

Please anyone clarify

Dear sir

I have read that in the valuation of current investments, if market price of the investment is increased subsequently

profits can be reversed if it was reduced due to lower market price than the cost.

I want to know how can there be any subsequent valuation of current investment as curent investments are only held for a period of one year and valuation can only be done on the balance sheet date

Please anyone clarify

Whether land developement charges made for an owned land, which does not provide a future benefit, can be claimed as an expenditure or should be capitalised?