SIR/MADAM

I WANT 2 KNOW THAT IN AS-13 (INVESTMENTS)UNDER THE HEADING RECLASSIFICATION OF INV. IT WAS WRITTEN THAT

a.WHEN LONG TERM INV. R RECLASSIFIED TO CURRENT INV.THEY R VALUED AT LOWER OF COST & THEIR CARRYING AMOUNT.&

b.WHEN CURRENT INV.R RECLASSIFIED TO LONG TERM THEY R VALUED AT LOWER OF COST & FAIR VALUE.

PLEASE EXPLAIN THIS.
I KNOW THAT INVESTMENTS R CLASSIFIED INTO 2 i.e CURRENT & LONG TERM.

PLEASE HELP.

can anyone clear me section 295?

Dear Sir,

Our company constructing a steel manufacturing mini plant. In case of capitalization, every thing is o.k. But if I come to Civil Works expenditure, how to capitalize these civil works expenditure asset wise.

Present we are just debiting expenses to like total cement cost, total steel cost, total labour expenses etc. How to divide these expenses asset wise.

I am thinking about three options. But I dont know which one is correct option.

1) Debiting total expenditure to a particular asset (i.e., cement, steel, labor, sand etc.) After completion of plant dividing these total expenditure asset wise based on estimated cost.

2)Debiting expenses to particular cost a/c (cement), after getting data from Civil Works department, passing a Journal Entry EX;-
Asset A/c Dr.
To Cement/Steel A/c

3) Capitalizing at the time of purchase itselt, based on estimated/actual cost.
Ex:-
Building 1 A/c
Building 2 A/c
Foundations A/c
To Cement Supplier A/c

But the 3rd option is not possible in actual time.

Sorry, if there is any confusion in my explanation said above.

Thank you all,
Swamy

Sir,

One of our client in bangalore and they are executing work in bombay, from bombay they supplied material to near bombay places only. our client office in bangalore should we charge CST or VAT?
If we charge Vat that is not our local sales, for CST movement of goods from one state to another state. in our case there is no movement of goods from one state to another state.

How to go about this issue and how to account in our book regaring sales tax issue?

Thanks in Advance

Dear Experts,
In our books opening balance of sub contractors is showing Rs 4,75,000/- and this year we have huge cash-in-hand balance so can we pay off the entire sub contractors dues by cash or is there any conditions for cash payments. We already paid the TDS on the subcontractors amounts.

Thanks in advance

Hi,
The Following are the deatils of X Ltd
A/cting Profit 500000
Book Profit as per MAT 450000
Profit as per Income-tax Act 50000
Tax rate 30%
MAT Rate 7.50%
Queries
1)What is the total expenses to debited in P&L account
2)What is the deferred tax amount to be carry forward and what are the condition for carrying forward,when a company paying Tax under 115JB?
3)Can a company can setoff regular tax income against MAT credit which is carry forward according to AS-22?

Dear Sir

Can i let u know the following details from u bcoz i had been overseas last 2 years and i should know

1. Rate of CST witout form C
2. Rate of CST against form c
3. Rate of VAT
4. Rate of Service Tax for Transport
5. Rate of Excise

Iam very very thankful to u for helping above my doubts

would any plz tell me that how to preapare a royalty payble and reciveable table and wht is the method to calculated recouped and irrecouped and amt. payable

wht all should i do in ifrs for may 2010 final ca?

Whether we have to take into consideration of Foreign Exchange Fluctuation on Closing Stock of Import Purchase lying with us on 31st March?

Import Purchase is fully paid out and nothing is outstanding to pay.