Dear Sir,

Please help me for the following issues

I worked in Automobile spares manfacturing industry turn over of 120crs

1.Is Cost records has to mantained for that industry

2.Is Cost compliance is applicable

3.If applicable what type of records are reauired?

Thanks
B.Phani Rajkumar

Is withdrawal relating to a particular year is admissible in that year itself irrespective of whether it is actually received or not, or only cash method of withdrawal is valid ?

Please Help.

Hello everyone... kindly solve my query regarding the assets to be shown in BALANCE SHEET : (Please consider the query in regards to Sole Proprietorship & Partnership firm) Basically, everyone knows that Balance Sheet includes all those assets which are incorporated in business to earn profits. Now my query is should those assets be shown in the balance sheet which generates income which are taxable in source other then PGBP (business income). It should be noted that the income being generated is further invested in business to earn business income. Also such income is increasing the capital of the firm. Take an example of "Rental Income " which is taxable in house property and income so generated is being added to capital. Now should the Building (asset) is to be shown in Balance sheet??

sir
is there any business law or bank condition that a small shopkeeper (proprietor) or professional must have bank current account instead of savings account for business /professional payments through cheques?

please clarify in detail that when and why current account is needed ?

if I have recd salary arrears from April 15 to July 15 in August 15 in this portion PF deduction is applicable or not Pls confirm me

DURING OUR SERVICE TAX AUDIT AUDITOR POINT OUT SOME SERVICE TAX NEEDS TO BE PAID UNDER REVERSE CHARGES BUT AS WE HAVE NOT PAID THIS SERVICE TAX DURING THOSE YEARS (FROM 2006-2014) WE HAVE PAID THE SAME DURING 15-16 ALONG WITH INTEREST, NOW I WANT TO KNOW THE ACCOUNTING TREATMENT OF SERVICE TAX & INTEREST PAID FOR YEAR 2006-MARCH 2014.

PL REPLY

Consider this:

Team B & Co a partnership firm, has Vat (liability)payable of RS.5000/- as on 31.03.2015, How to disclose this amount in Financial Statements (Balance sheet & P&L).

HI all, Can we capitalize the amount paid towards obtaining the fancy registration number for a car?

Hi,

I want to know the accounting treatment for the following issue:


A manufacturer (company) has outsourced work to a job worker. The job worker has purchased a machinery and shown in the books as a fixed asset and claims depreciation. The manufacturer reimburses the cost of the machinery incurred by the job worker in Equal Monthly Installments. Further the manufacturer doesn't want this amount to be shown as a loan installment. Now should the EMIs be reducing the value of the fixed asset in the books of the job worker? But then at some point the value of the Fixed Asset will turn negative, since the asset is being depreciated. What should be the Accounting treatment for this?

Thanks

What is Core Account?
give the detail information regarding this