As we have entered into a contract with canadian company for purchase of some spares, however, it remain unexcuted as on 31 march 2008.

So, we are showing it in the capital commitment amount in our note of account, my question is that at which exchange rate we should value the capital commitment - whether

exchange rate declared by excise and custom department on monthly basis.

or whether rate declared by R.B.I. on day to day basis.

Or in short, what AS-11 say in this regard




please refer some documentaty evidences in this regard also, if possible.

thanks

Sir,

I have receive the Professional bill for the month of March in April Dated April what entry should be passed in the books of accounts and Also i want to know when should i deduct the tds in the month of march or in the month of april 08

whatis the entryfor baddebts in consignor's and consignee's book when a)del credre commission is given b)when the same is not given

From our C.A. We received message that Online TDS Payment is Compulsory from 1st April'08.

But, due to some problems we unable to start netbanking facility(applied but not yet started).

Because of which we not yet paid TDS for March'08.

Now I want to know that, Can we make our pending TDS Payments for year 2007-08(March'08) now by Cheques or any other source?

Is there any penalty?

Dear All,

1. How is Basic EPS different from diluted EPS and cash EPS??
How are they computed?

2. "If a company has a high PE multiple & it goes for buy back, its EPS will get diluted for the existing shareholders for an extended period of time." Hw does this happen, pls explain?


Looking forward to ur responses

what is the vat rate for jelly filed coaxial cable

books for A/c standards PCC NOV attempt

thanks

What should be the accounting treatment for expenses incurred on entertainment of clients? If we show it as Marketing & Sales Promotion Expenses than whether we have to pay FBT on it.

we are doing equity index arbitrage. We buy nifty futures and sold equivalent % of stock futures so our position is 99.99% hedge. Suppose we bought 1,00,000 nifty @6000 and sold equivalent stock futures at same level to take advantage of arbitrage opportunity. Now on 31st March the Nifty value comes to 4500 but we have positive mark to market as we have already sold stock futures of equvalent value. Now as per Guidance note issued by ICAI we have to provide for Mark to Market loss on Nifty futures i.e.Rs.1500 lacs and should not consider gain of Rs.1510 lacs on stock futures. To me in such cases as matter of prudence one has to consider profit/loss of whole basket instead of considering each item individually. Any comment ???

What is the accounting treatment of salary paid to employee after deduction of TDS