what is capital goods? Examples of capital goods.

I am having a PPF a/c of my HUF operational from last 10 years. The first block of 15 years is not complete and will be complete in 2014. 1. Can I continue to subscribe Rs. 70000/- per year 2. Will I earn interest in this A/c for the previous amount and for amounts invested upto 2014 ? 3. Can I claim exemption under section 80-C from Income Tax for HUF.
Please advise.
Thanks and Regards
Rajesh

HI,

Vehicle is not owned by coy. But petrol expenses reimbursed to directors for their own car used for official and personal use. where to account this exp. in vehicle maint. or Local conv.

hi, i wish to know which accounting standards (AS) are important from exam point of view for PCC Nov'09? Also plz refer some good books for the same which can help me in preparing for the AS (both theory and practical)

regards
amita

Suppose "A Co." has taken Foreign Currency working capital loan of Us$7,40,000 from a nationalised bank and same day/8th July'08 entered into a forward contract @ 44.935 with Delivery date 6th Aug'09.

Us$ rate 31st march'09 -50.53
Forward rate 31st march'09 -51.98

What will be gain/loss as at 31st march'09

Can anyone give me the deatil list of acounting entries to be passed for provision of Income tax.alongwith the advance tax paid and TDS receivable.

Whether the entries for provision of TAx are shown net of advance tax, tds receivable, provision written back etc or the advance tax,TDS is shown separate?

Hello Everyone,

I am solving a problem related to the calculation of Maximum Permission Financing for working capital requirement based on Tandon's committees recommendation and got stuck at one point.

A balance sheet of a company shows the following 1 item under liabilities section.

Secured loans 450 lacs

It also includes the following additional information i.e.
1. Secured loans include installments payable to financial institutions before March 31st, 2009 of Rs. 100 lacs

2. Secured loans include working capital facility expected from Zonal Bank Rs. 300 lacs.

In this scenario, what figure of secured loan should I include in the current liabilities while calculating the financing limit for a bank.

Thanks for your help

Regards,

Babu Shetty

I am working in a wholly owned subsidery which is wholly owned by a foreign company. We bill for them for the services provided. How do we account for the remittance received 1) Income 2) Inter-company transaction. 3) If "Income" are any taxes applicable on the Income received 2) If Intercompany then how to record those transations ? Please explain

Sir,

Could you pls guide me what is profit & loss appropriation account and what is the purpose of it.

pls expalin in detail.

Dear Sir,

If we want to show share stock (business) at market value at 31st March than what type of entry is required to be passed at the end to show unrealized gain or unrealized loss for that. And what entry and adjustment is made when actually sold the same?

Secondly for the fixed deposit that has been matured in next year if we want to make an entry for accrued interest than tds detail is required or we have to pass the entries for interest income only?