Depriciation on a newly purchased Asset should be calculated from the Date when the Asset has been put to use. Is this rule applicable under both Income tax Act & Companies Act or how differenty it shd be treated under two Acts?

Ours is a manufactring company and is developing a project ie(Purchased land and started to develop a building for its own use). Can we capitalise salary cost of Our MD, CFO and Other corporate staff on some % basis to the new project as they are attending the sites for some work.

Whether the expenses to be capitalised are to be treated as development cost and AS-26 Intangible Assets would be applicable.

OR

Whether the capitalisation of preoperative expenses would be covered under AS-10 Fixed Assets.

PLease confirm.

Ours is manufacturing company. A project is going on for developing the company's new building.

Now i wanted to confrim whether We can capitalise the salary of the person (Includes directors and other managemnt staff) visiting the above project.

If yes Whether it would be correct doing that?

Is their any accounting standard related to this issue?

Hi All,

Critically examine the emerging trends in accounting standards.

Please Answer me

is general reserve a liability for the company?

Please tell me is service tax applicable on sale of licensed software to AICTE approved colleges.

DearAll,

I would like toknow the following treatments in the books of Accts:-
1) Payment by owner of a team in IPL to its players.

2) Payment by Broadcaster to the owner

3) Sell of players from one team to another

Can any tell me on what basis Serial Episodes should be valued for Work In Progrss as on 31 st mar,2009?

Can is it possiable big amount like 1 crore directly written off without provision

please give details what impect in books and taxatation allow/disallow

What is the accounting treatment for repairs due to an accident on vehicle used for the purpose of company and subsequently some amount recovered from insurance co.