Amit Kanunga
(Article Assistant and Post Gradute)
(644 Points)
Replied 21 March 2016
Shown As Trademark Fees n Consultancy Fees as Professional fees.
Sahil
(NA)
(159 Points)
Replied 21 March 2016
But how to show the fees in the books of company because payment is made by one of the director @ amit
Amit Kanunga
(Article Assistant and Post Gradute)
(644 Points)
Replied 21 March 2016
Show as the reimbursement towards director n make a Debit/Credit note of that Payment made to director.
Bcoz on the behalf of the company an director can pay.
Sahil
(NA)
(159 Points)
Replied 21 March 2016
okk thankyou amit. But the Invoice two amount one for Government Fees and other for Consultant Fees. Now which amt do i show as fixed assets for Trademark in companys book??
Amit Kanunga
(Article Assistant and Post Gradute)
(644 Points)
Replied 21 March 2016
Can u tell the Amount of Invoice ?
Amit Kanunga
(Article Assistant and Post Gradute)
(644 Points)
Replied 21 March 2016
Is it Matreial amount ?
Sahil
(NA)
(159 Points)
Replied 21 March 2016
Yeah the Bill amt is total 44500. Rs.24,500/- is for their Fees and Rs.20,000/- is for Government Fees for Trademark. and the Billing is in the name of Director not in the name of Company. Bcoz at that time Company was not formed.????
Amit Kanunga
(Article Assistant and Post Gradute)
(644 Points)
Replied 21 March 2016
Yeah i got ur query,
Now i come back to ur query that we will Capitalized the Rs. 20,000 as trademark and Rs. 24,500 as professional Fees in the accounting and if the limit cross then u need to deduct the TDS from professional fees.
Hope u understand the answer !!!!
Amit Kanunga
(Article Assistant and Post Gradute)
(644 Points)
Replied 21 March 2016
Till the company is not formed then all the expenses will be borne n pay by the Director only so not a worry.
u can show as reimbursement to director.
Amit Kanunga
(Article Assistant and Post Gradute)
(644 Points)
Replied 21 March 2016
Hope u Got Understood the answer ???
Reply ??
Sahil
(NA)
(159 Points)
Replied 21 March 2016
You mean i should show the Trademark as Asset and reimburse the amt to the director. Right???
Sahil
(NA)
(159 Points)
Replied 21 March 2016
Should a Create a new head in the name of director and show under it in Unsecured loan and then remburse amt in the books of company??? Amit Ji
Amit Kanunga
(Article Assistant and Post Gradute)
(644 Points)
Replied 21 March 2016
Y u create new haed unsecured loan, just directly reimbursed it fully.
yes u can show TradeMark as intangible asset under Fixex asstes.
Sahil
(NA)
(159 Points)
Replied 21 March 2016
how can i directly remburse it to the directors. ??? and the payment for trademark was made on July 2015. and still didnt remburse to the directors. what entry should i pass for rembursement.
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