Hi,

If the Company purchased the assets for less than Rs 5000 than as per notes to Schedule XIV of Companies act that should be depreciated at the rate of 100%. I have two questions in this regard.

1. If the asset is purchased in Nov 2008 and the Company is having its Finacial year end in Dec 2008 so using the rate of Dep of 100% (as stated above)two months depreciation will fall in FY 2008 and rest of 10 months will fall in 2009. Is this interpretation correct??

2. If the 1st is not correct, than should the assets be depreciated entirely during the year of purchase or should it be written off immediately after capitalisation, if the asset is to be written off immediately after capitalisation than what is the purpose of routing this asset from FAR (i.e Fixed Assets Register)so can that be written off straight away as expense to P&L.

Pls note that in case of 2nd the Company will not be following the 100% rate defination as mentiond in Schedule XIV.

Regards,

Arvind

Can u pls explain cash accruals?
whether Profit after Tax ( PAT)+depreciation+other expenses which do not result in cash outflow can be treated as cash accruals?

1.Is House property Loss possible to setoff against any other head Income during the previos year and c/f and setoff against other Income during subsequent previous years ?
2Is Electric contractor under the Busisess head?

Dear Sir

As a practising CA, we have to strictly follow the format as given in AAS-35 whilst certifying a PROJECT REPORT. OR, we can implement the theme of AAS-35 viz., the purpose of AAS-35 may be served in other terminology also.

Whether, AAS-35 is applicable to report on the Projections of SMEs or even smaller firms for the purpose of availing Working Capital Limits

please clarify

Hello friends,

Can anybody tell me

whether a unlisted public limited co. can accept unsecured loans from its directors and members ?

Plz tell me the section also.

I know that sec. 58 A is applicable as well as the Companies (Acceptance of Deposits) Rules, 1975 is applicable, but i m not clear what sub clause ix of rule 2 says.

Is it exempting directors, relatives or members of private co. only or of any co.

Plz reply as fast as u can.

Thanks

hi this is very urgent for me

hiii someone please tell me whether there will be no off in between the ca exams frm november onwards...

thanxs!!!

When I opened Stock summery with Item wise & with Consumption & GP for a particular day, some stock Items shows NIL Gross Profit even if I calculated mannually for that particular day I get defference.

I can't identify the reason of that. The same problem repeated in Tally 7.2 and also in Tally 9.

Any one can guide me about the reason or any one faced the problem.

Respected Sir,

I would like to know the procedure to remove the director of a Private Limited Company along with the necessary format of Notices and Resolutions.

Thanking you in anticipation.

Can anybody Update me with Due dates of FBT Payments & Dated of Return Filing