As per Bonus act says an employee is eligible to Bonus when he works 30 working days.

If an employee is joined on 1st March then he is eligible to Bonus.

whether 30 working days means including sundays and holidays after joining or Excluding.

Hi

I am a fellow member of CA. I am not holding COP as am into service with Kotak Mahindra Bank Ltd. Wanted to check if I can get IRDA licence and become insurance agent/advisory or is ther any restriction on CA's.

Nikita

can anyone share with me the copy of the order of Delhi High court dated April, 20th 2009:- which states
Companies cannot be subjected to service tax for renting premises to run their businesses, the Delhi High Court has ruled while disposing of petitions filed by some retailers against a government directive.

Managing director of the pvt.ltd co should sign the attendance.

This relates to accounting for Unbilled Revenue where transaction takes place in foreign currency (USD).
Scenario goes like this:
ABC Ltd. is a service provider having number of domestic and foreign clients. It does billing to Z Co. Ltd in USD while base currency for ABC continues to be INR.

As per Billing cycle, the bill to Z Co. shall be raised on 15th April 09 for work done for the period Jan'09 to Feb'09.
ABC wants to put entries for Unbilled Revenue on a monthly basis (Jan to Mar).
In this example billing for each month is $1000 (Jan to Mar) and for that of Apr is $500 (till 15th Apr). Also, the currency conversion rate is different at all month ends (as on 31st Jan Rs.45, 28th Feb Rs.47, 31st Mar Rs.46 and 15th Apr (Rs.50). Please help me with the accounting entries for the Unbilled Revenue, complying with the Indian Accounting Standards and business scenario.

Following is what our system is doing right now which seems to be bit dicey:

Accrual 31st Jan Unbilled AR Dr. $1000 Rs.45000 Conversion Rate - Rs.45
Revenue Cr. $1000 Rs.45000

Reversal 1st Feb Revenue Dr. $1000 Rs.45000
Unbilled AR Cr. $1000 Rs.45000


Accrual 28th Feb Unbilled AR Dr. $2000 Rs.94000 Conversion Rate - Rs.47
Revenue Cr. $2000 Rs.94000

Reversal 1st Mar Revenue Dr. $2000 Rs.94000
Unbilled AR Cr. $2000 Rs.94000


Accrual 31st Mar Unbilled AR Dr. $3000 Rs.1,38,000 Conversion Rate - Rs.46
Revenue Cr. $3000 Rs.1,38,000

Reversal 1st Apr Revenue Dr. $3000 Rs.1,38,000
Unbilled AR Cr. $3000 Rs.1,38,000

And Finally, the actual billing happens on 15th April. Nowhere in the above flow of transaction does Currency Exchange Gain/Loss appears which seems to be incorrect. Please guide with appropriate accounting of the above transaction.

How VAT is Applicable to both the sale of goods and Services ?At what rate it is charged?

What is Octroi?
For what it is charged?

Kindly clrify me

Whar is Octroi?
For what it is charged?

Kindly clrify me

Dear Experts,

Earlier to the amendments we were depositing the TDS/TCS by filling challans and depositing the money in listed banks. Now my query is that whether Form 17 can be uploaded by ourselve or we have to approach TFC's. In case if possible by ourself which is the web site - NSDL? or what. Further what about username and DSC?

Pls clarify

We are taking over a private limited company by purchaing all the exisitng equity shares from the existing shareholders and filing Form No 18 and 32 for changes in directorship & office address.
We are also executing the share transfer form.
Should we execute any other agreement/MOU between the vendors and ourselves.