Hi all!

We are a ERP software development company started a year ago.We have now developed our base model.In this connection I would like to know as to how i should arrive at the product cost and how i should amortise the same over future years or whether i can expense the entire cost incurred for developing the ERP product as expenditure and write it off to the profit and loss account.

Kindly help me out with relevant provisions as per Co's Act and IT Act.

we have imported raw material and under ex bond we have sold to a party.. is local tax applicable on sales and wat is the accounting treatment?

Explain in detail the relation between gross profit and GDP

SAM KOSHY

Financial Assistance in the form of cash
(non -returnable) + agency service from a government fund to a private company for
office automation ( software installation).

We can account this cash as miscellaneous income in P& L A/c.

How we will account this income in other ways?

How it will b/f in the next fiscal year ?

( Not from Indian Govt. but from a middle east country ministry)

Who is the authorised person to make the property valuation report?

The property valuation report of an independent property valuer is acceptable to nationalised banks ?

What creteria using to find the current market value of land with / without buildings?

Sam Koshy

if any company has changed its accounting policy i.e. from wdv to straight line method on year end(31-03-2008) then whether loss on sale of machinary ,sold on 01-10-2007 & depriciation thereon is liable to change retrospectively or not, is retrospective change is required to be given on existing machine on year end only

Hello EXPERTS,
ABC Pvt Ltd place a order for supply of Hydropnuematic System. One of the terms of P.O. is that Installation, Testing & Commission of system will be carried out without any extra cost.

Now my query is that wether we treat it as composite order including installation i.e TDS will be done
OR
TDS will not be done as installation is free of cost along with supply of Hydropnuematic System.

1)How we will deduct TDS on a composite bill of supply and service : -Where supply and services within bill are not biforcated -Where supply and services within bill are biforcated

2)How will we capitalised Insurance,registration fee and accessories expenses of a new vehicle which are not included in the original bill and the bill date are different.

Sir,
if a company is importing some items on which it has paid security for container in which it has packed its material, when material reached at indian port company has paid epenses to container corporation of india and returned back security money to the company company.
now question is what is the nature of expenses is it rent,packing charges or fraight.
and if it is rent do the company has to deduct TDS on that payment.

Can we create deferred tax on conversion of assets into stock in trade & at what rate ?like a infrastructure co. convert there land into SIT.