can a pvt limited company accept a loan from its employee?
and upto what amounnt??
what are its provisions

Loss as per P & L is 36000
loss as per TAX laws is 19000

What will be impact?
DTA or DTL?

How much?

We have just increased our ASC to 1 Cr.& accordingly paid Rs.20000/- towards stamping & 50500 towards ROC fees. Kindly guide where should i account for in books of accounts?

In case of a company , billing address is Delhi and shipping address is Faridabad.
How to account for it ? What about the C Forms ? How we can take the benefit of E 1 AND E2 ? Where to pass accounting entries and stock entries so that there should not be any problem.Please guide.

What documents & which law(s) applicable to C&F service provider..alternatively What is the check list C&F assessee(partnership) before filing Income tax returns.
thanks.

Comment on following:
A Company has received a demand of Rs 50,000 from the income tax Department.
Against which it has already filed an appeal. The Accountant advises the Management to provide for payment of tax in the Accounts for 2011-2012

Announcement: Exclusion of Hire
Purchase
Trading Account (Debtors) Method and
Stock and Debtors Method from Chapter
11
of Intermediate (IPC) Course Paper 1: Accounting Study Material. -
(23-08-2013)
It has been observed that Hire Purchase
Trading Account (Debtors) method and
Stock
and Debtors method of ascertaining profit or
loss on sale of goods of small value
under hire
purchase system based on the simplified
approach followed in the Study Material
are not fully compliant with AS 19 Leases
since
loading amount contains both profit as
well as
interest element.
However, students may note that both these
methods would be fully compliant with
AS 19,
provided the usage of interest rate, IRR,
etc.
are followed to bifurcate the element of interest and profit. Such an approach to
apply
both these methods involves more
complication and hence may not be
relevant in
practice for Intermediate (IPC) Students. Therefore, Board of Studies has decided
to
exclude the Hire Purchase Trading
Account
(Debtors) Method and Stock and Debtors
Method in the Paper 1: Accounting Study Material at Intermediate (IPC) level.
Accordingly, students of Intermediate
(IPC)
Course Paper 1: Accounting are advised
not to
read the said methods given in Chapter 11 of
the Study Material. The details of the
relevant
page nos. and questions in the Study
Material
and Practice Manual of July, 2013(Revised edition) respectively, are given
hereunder:
Volume I Study Material Para 9 to 13 and
Illustrations 13 to 19 in Page
nos. 11.32 to 11.50
Volume II Practice Manual Questions 1, 2, 4, 5, 6, 7, 8 and 10 in Page
nos. 11.1 to 11.20

Is this true ?

Our Company income is commission on sale.

we raise the bill of current month of commission in next month.

i want to know that in which month we Should record the commission income, in the current month or next month when we raise the bill.

Dear Sir
I have query regarding Foreign Exchange Fluctuations Arising Through Amounts Payable To Suppliers ( Creditors ). e.g. We Have imported certain machines From Supplier Of China which are to be capitalised . The Cost of machines is USD 10000 , on the date import the conversion rate of indian currency is Rs. 54/- . The Purchase is booked accordingly ( 10000*54) For Rs.540000/-. Now on the date of Payment the USD rate is Rs.58/- . Means we have to Pay Rs.580000/- ( USD 10000*58 ) . Now my question is whether this loss of Rs.40000/- ( 10000*54 (-) 10000*58 ) should be assigned to the cost of acquisition of Fixed Asset Or should be shown in P & L a/c.
your guidance in this regard will be highly appreciated

I have a Query about recording of Purchase Bills in below mentioned situation.

X and Y are two sister concerns and has trading business. Y has purchased some of the goods in behalf of X for which X has passed journal entries in its books of accounts as purchase and has paid the amount by cheque. However the purchase bills are in the name of Y.

So how to treat these transactions in the books of both the firms?