Answer Posted / raheem ps
Rates & method of Depreciation are different under the
Companies Act & the Income Tax in India. For rates &
guidelines Refer the Companies Act (Depreciation Schedule) &
the Income Tax Act. Or refer teh latest Income Tax Ready
Reckoner, where rates under both the Acts are available.
Rates are also available on the Internet/websites of Income
Tax Department / Department of Company Affairs.
i may guess that the above mentioned is correct coz., the rate of percentage has to be imposed by the national r central tax authority and has been vary from year to year.hence, there is no permanent fixed % for it
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
please specify some books name in preparing a bank exam apttirutude questions
What type of questions are asked for Interview of Manager Finance in Airport Authority of India ?
Indian Iran Gas pipeline
What is revaluation of Accounts, how does it is accounted in business
Hello Frd's This is Mohd NaseerUddin. Is Anyone can help me out to findout a Accounting Peachtree 7.2 note's aswel as Focus notes also Plsssssss helpme out to find it. My E-mail id is mohd_naseeruddin43@yahoo.com
Short answer on Amalgamation
reason for difference in Balance sheet (Asset side & Liabilites side)
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
Is it correct to covered fesibility report expenses and survey expenses in pre-operative exepenses ?
How Many Points include in Mat Calculation , what is the different bitween Gross Profit & Book Profits?
Expand-------URM
shares journal entries
how to entry of hra
what types of essays are giving in bank of america. can any one tell the opics? LAVANYA
IS ACCOUNTING MBA AND FINANCE MBA SAME OR DIFRENT
