What will be the accounting treatment for grants received by a PSU for making VRS payments?

Dear Sir

Please can u let me know what is the Fixed Assets depreciation rate as per Companies act.


Naveen.

RESPECTED SIR/ MADAM,

AS PER AS-29, WE HAVE TO MAKE THE PROVISION FOR THE ITEMS WHERE POSSIBILITY OF OCCURANCE " MORE LIKELY THAN NOT".

IN THIS CASE, WE KNOWS THE PROBALITY OF OCCURANCE OF THE ANY OF THE EXPENSES DURING THE PERIOD OF REVIEW.

IN THIS CASE SOME OF THE EXPECTED EXPENSES FALL IN THE AREA WHERE TDS SHOULD BE DEDUCTED ON THE SAME, HOWEVER THE BILL WOULD NOT YET COME.

HENCE I WANT TO KNOW THAT WHETHER WE HAVE TO DEDUCT THE TDS AT THE TIME OF PROVISION OR AT THE TIME OF RECEIVING THE BILL FOR THE SAME.

PLEASE REPLY IT AS SOON AS POSSIBLE.

REGARDS,

PRABHAKAR

RESPECTE SIR/ MADAM,

I WANT TO KNOW ABOUT THE REPO MARKET REGARDING WHAT IS THIS AND HOW IT WORKS IN THE MARKET.

REGARDS,

PRABHAKAR

RESPECTE SIR/ MADAM,

I WANT TO KNOW ABOUT THE REPO MARKET REGARDING WHAT IS THIS AND HOW IT WORKS IN THE MARKET.

REGARDS,

PRABHAKAR

Hi, Can anybody plz inform me that how should the Interest paid on delayed deposit of TDS, FBT and Service Tax be shown in books of A/cs i.e can deduction be claimed in that regard or not?

Please let me know for whether the following is to be capitalised or expensed, if to be capitalised duration over which depreciation is to be charged and the head under which it is to be capitlised,the reason for capitlaization. Note that the software can be used for any number of years.


1)Software bought for Accounting and Administraion.The source code remains with the seller.


2)Software bought to develop other software.The source code remains with the seller.


3)Software bought to run a machinery.The source code remains with the seller.


4)Software developed for a particular customer but not sold yet.The software is customised to his needs and only the customer can use it.What if a)Customer is sold the source code b)The source code remains with seller.



5)Software developed meant for Sale ( Not meant for any particular customer). There is only one copy of the software. Copies of it are made and sold to customers as and when demand arises.The source code remains with seller. If you say this is inventory -just by taking another copy of the software and keeping it ready, will my inverntory value double?

Revaluation of Plant and Machinery and Land would be the part of Gross fixed assets for calculating the concent fee of Pollution Control board

I had sold goods in the month of Jan’08 and same were return in April’08.In this case I would like to should we give the effect of sales return FY07-08 or FY08-09.Can we adjust sales return in FY07-08 till the audit is finalized.

Hi Sir / Madam

My query is regarding to Last years expenses.
e.g. If any expense of previous year still pending to entered in our books & our balance sheet is already finalized. Even Income tax return is filed. In that situation how can we book the expense for last year?
Can we show the expense in current year?
Is it possible that the expense book in this year?
If Yes, then How?

Regards
Anil