I am appearing for grp 1 this may 17. Do i need to study AS 6 and old AS 10 with the new AS 10 Property, Plant and Equipment.

Facts of the case -

Assesse constructed a building for residential purposes in the year 2004
Cost of Land - Rs. 2.5 lacs (Purchased 10 years earlier)
Cost of Construction of Building - Rs. 24 lacs
Assesse started business in the year of 2014
Assessee started using that residential property for the purposes for business.
He used that residential property as an office.

Queries -

How to claim depreciation on same?
Should the depreciation be claimed from year AY 15-16 or from the year of construction?
At what rate should depreciation be claimed?
Depreciation should be claimed on whole property or proportionately on only the part used for business?
Depreciation should be claimed on the composite COST of Land & Building (i.e on Rs. 2650000)?

Respected sir/madam


The employer has bought uniform for their employees. This expenses which category should be accounted.
It is Australian based company bookkeeping maintained by Xero accounting software. It is pertains to office expenses or Staff Amenities and include GST or not?

Please give your inputs

Thanking you

What is the last date for filling 31.3.16 income tax return

Gross professional fees Receipt (turnover) Rs. 1,37,000/- in F.y.15-16. in above case I have to maintain books of account

Where does "Provident Fund" and balance of "Employee Profit sharing account" go in Company Balance sheet ?

In internal Reconstruction , Do we have to write off all fictitious and intangible assets even if not said in the question ?

hi i am a small proprietor running a job work business. i have been running this business for last three years. but i did not open any current account. i just opened my current account this month. i wonder if i can deposit my cash received till now in this financial year in my current account?

dear experts recenty we are renovate our office and create some extra cabin also..and some labour bill also including in this works. my quiry is can we allow to used this exp to capitalize? if yes than under which head we show to assets ? can we used also labour exp to capitalize..?

Dear professionals,
my employer wants to write off fixed assets in FY 2016-17 but the assets have remaining life 5Years.
what is the procedure, how we can write off?
can we charge that amount to P&L account?
please guide me.
Thank you.