Whether Guidance note on Recognition of revenue by real estate developer issued by I.C.A.I. 2006 is withdrawn?
If Not whether it is applicable at present?

Dear All,
Pls let me know the contents of annual reports in brief of listed compnies and tips to interpret to annual reports from investment perspective.
Thanks.
Mukesh Chudiwal

Is it necessary, that only assets(newly purchased) above Rs5000/- be carried forward, as an asset, if yes, can I have some references to it?

Sir,Madam
I want to know what is leasehold property.

what is the definition of scrap???????

how should we determine that any material lying in the godown at the end of the year is scrap or closing stock???

suppose that i m a dealer in cloth, i purchase 100mm cloth out of which i use 95mm for production and i want to consider the other 5mm as scrap but the income tax officer says that it should be considered as closing stock of raw material

so what should i consider the 5 mm cloth (scrap or closing stock of raw material)????

Dear Sir,

I want to know the what accounting entries is to be passed in the books of accounts for the Purchase of stock bills of any vendor related to 31/3/08 is received in april 08 bill dated 24/04/08


Regards

Ravi Konda

can we capitalize the life time tax on the purchase of car

What is rollover budgeting ? How it is different from normal budgeting?

I want to know the answer for the following question

Suppose 1 machinery amounting to rs. 100000 has been purchased on 01.01.2002 and the W.D.V of the machinery on 31.03.2008 is Rs. 40000 and now this machinery is being sold for Rs. 150000.

Someone says that Rs. 50000 is a capital profit and Rs. 60000 is revenue profit whereas sopmeone contends that Rs. 110000 is a revenue profit . the clarification given by them is that nothing has beemn specified in As-10 that there is capital profit above the historical cost . however one of the expert said that it has also been held by the institute in the journal of june 2000.(copy of journal is not available to me so i am not able to verify the same)

Please reply the same from view points of accounts i.e treatment to be done in the books and dont explain me the GYAN of income tax act and also i request u to give proper backing to ur answer.

I want to know the answer for the following question

Suppose 1 machinery amounting to rs. 100000 has been purchased on 01.01.2002 and the W.D.V of the machinery on 31.03.2008 is Rs. 40000 and now this machinery is being sold for Rs. 150000.

Someone says that Rs. 50000 is a capital profit and Rs. 60000 is revenue profit whereas sopmeone contends that Rs. 110000 is a revenue profit . the clarification given by them is that nothing has beemn specified in As-10 that there is capital profit above the historical cost . however one of the expert said that it has also been held by the institute in the journal of june 2000.(copy of journal is not available to me so i am not able to verify the same)

Please reply the same from view points of accounts i.e treatment to be done in the books and dont explain me the GYAN of income tax act and also i request u to give proper backing to ur answer.