Respective Concern,

I have a query regarding WIP which is derived as per AS7.
I know we compute percentage of completion as per cost incurred divided by total cost to be incurred on contract.But here is two cost we have incurred i.e. certified value of cost incurred & uncertified part of cost.
I want to know which part of cost will be used to derive % of completion.
Pleased provide me suitable answer as soon as possible.
Regards,
Ravi garg

A private limited Co. files its form-20B for the F.Y 31.03.2012,

500 eq.shares has been transferred on 26-09-2012, the AGM date of the Company is on 29-09-2012

will the above share transferred details be shown in its Annual Return (Schedule -V)

Please reply

SIR, IF A LTD PURCHASE FIXED ASSET FOR RS 4,50,000 & A LTD ISSUE RS 1,00,000 DEBENTURE AS PART OF PAYMENT & FOR REMAINING AMOUNT SHOULD BE REMMIT BY CASH i.e rs 3,50,000.
sir my question is that,issue of debenture should be considerd in cash flow financing activities or not.

Dear Sir,

An assess had filed return for the financial year 2010-11 by showing a rental income of Rs.11,00,000/- and TDS of Rs.1,10,000/-. But in 26AS the tds credit is reflected in the Financial Year 2011-12. Now a notice received from income tax department to pay tax of Rs.1,10,000/- for the f.y.2010-11.
Is it possible to claim the TDS amount of Rs.1,10,000/- to F.Y.2011-12 & also pay the Demand amount by Challan?

i hd passed my class 12 xam.... can i do ca with bcom(hons) regular class??

Actually we are mobile trading company like The Mobile Store, Bigc Mobiles Pvt LTD, & Univercell Etc., we want to know which kind of services available to input service tax credit.. and could you please elaborate

I am incorporating a new Private Limited Company with 2 NRI promoters both residing in Delhi for last 3 years but having British Passport/Nationality.

Please advise me if it is possible?? Whether there is any rule that minimum 1 director should be an Indian passport holder.

if x paid the rent of 3 lacs to y without deducting tds bt y filed the return of income and included the above income in his retrun and also paid the tax on above income 30 sep 2013. rent is related to fy 12-13 can x claim rent as deduction in fy 12-13 or f.y 13-14

can pvt. co buyback 100% shares so that its assets and lia. is Nil and apply under FTE scheme for winding up

Partnership firm running restaurant, purchase hotel premises and done satakhat/unregistered deed as on 05.08.2008 and taken possession of premises from Mr. 'B'. Money given for the premises shown in balance sheet(Unaudited) as under fixed asset head say Rs. 2600000/-.

In the audited balance sheet same amount shown under loans and advances head because registered deed not made up to 31.03.2009(FY 2008-09).

Further, during the FY 2008-09 under survey of premises firm disclosed Rs. 5000000/- as undisclosed income of FY 2008-09 given to Mr. 'B'for the purpose of Renovation of hotel Premises, Furniture etc.

In FY 2008-09 assessee claim depreciation on Rs. 5000000/- for half Year Rs. 250000/-. And no depreciation claim on Rs. 2600000/- as for the purpose of want to claim long term capital gain in future.

And in assessment proceeding depreciation is disallowed on the ground of no explanation given for showing Rs. 2600000/- under loan and advance head under audited balance sheet.

Now my question is whether any difference as advance given shown in loans and advances (as registered deed not ready up to 31.03.2009) or fixed assets on which no intention to claim depreciation.

Kindly give any accounting guidelines for the same.