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Dear Experts,

Whether any item purchased below Rs.5,000 then it is to be treated as a revenue expenses ? means considered in expenses head?

One of our client is not agree to capitalized those item which is below Rs.5,000 & They said as per companies act. if any item purchased below Rs.5,000 is to be treated as a revenue expenses i.e. considered in expenses head.

They are also written of fixed assets which is opening W.D.V. below Rs.5,000.

Whether this accounting effect is right or not as per companies act.& also tell me what companies act. said about this type of transactions.

Pls.solve my query asap.

Regards,
Prakash Jasani

Dear Colleagues

I want detailed Audit plan and Audit Checklist on leasing.

please share the file.

With Regards
Saicharan

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is there any para in as -22 for the same.

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two company in which one is pvt ltd and other is ltd company made an AOP for a work contract. in which pvt ltd company is providing tech. consultancy and ltd financing and selling the material also some traction also done i.e. payment for some time and recevird again to the AOP. so plz tell me what should i show in from 3CD u/c 269T, 269SS & payment to specified person u/s 40.

whether both comapny is the sister concern of the AOP.

hi,
i wanted to know if in a real estate company (private company) can they receive any amount in cash towards sale of land...? is there any notification or circular for the same..

Hai to all,

The company has paid RS 50,000 for drafting and modification of share agreement.Should it capitalise or charge to revenue?

two company in which one is pvt ltd and other is ltd company made an AOP for a work contract. in which pvt ltd company is providing tech. consultancy and ltd financing and selling the material also some traction also done i.e. payment for some time and recevird again to the AOP. so plz tell me what should i show in from 3CD u/c 269T, 269SS & payment to specified person u/s 40.

whether both comapny is the sister concern of the AOP.