what is freefloat capitalization
Answer / santosh mishra
Free float market capitalization weighted methodology takes
into consideration ONLY those shares which are available
for public trading. So that will NOT include shares held by
the promoters, the government, etc. What this will mean is
that certain companies, which have high holding by the
promoters will loose out on the market cap valuations.
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Can we finalize Balance Sheet Without prepare Profit & Loss Account.
Income Tax Department sends cheque for INR 2 Crore as Refund after completion of Assessment for A.Y.2011 - 2012 to a Company. As per IT Return filed for this year I.T. due to Government was INR 60 Lac but was assessed at INR 70 Lac. TDS due to Company was INR 3 Crore which was admitted as INR 2.7 Crore by Government. Government also adjusts Tax dues for A.Y. 2009 - 2010 of INR 40 Lac which was disputed earlier by the Company and Appeal was lying with the CIT. Government pays Interest to the Company amounting to INR 40 Lac. Provision for Income Tax made by the Company in its accounts for F.Y. 2010 - 2011 (A.Y. 2011 - 2012) was INR 50 Lac. What would be the Journal Entry at the time of receipt of Refund of INR 2 Crore from the Government in A.Y. 2014 - 2015 in the books of the Company?
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1 Answers Accounting, State Bank Of India SBI,