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Query Posted : 39
Query Replied : 39
12
 
  • Mobilisation Advance
    by Kamal Garg on Tuesday, March 14, 2017  at 01:11 PM

    Dear Sir What is the treatment for Mobilisation Advance (i) received and (ii) paid by a construction industry. Is Mobilisation Advance considered as financial instrument cosnidering the fact that it does not qualify as asset or liability as it is not being a resource or obilgation

  • NBFC
    by Kamal Garg on Saturday, March 11, 2017  at 01:17 PM

    Ind AS are applicable on a manufacturing company. Such manufacturing company is a holding company of another NBFC. Whether Ind AS need to complied for NBFC in its Standalone F.S. and in the grpup's Consolidated F.S.

  • Ind AS Applicability
    by mohan verma on Tuesday, December 20, 2016  at 03:30 PM

    Thanks,If Company A and Company C are subsidiaries of Company B then it shall be applicable on both A & C because if Ind as applicable on holding co then it shall be applicable on all subsidiary co. But we want to clarify that Company C is subsidiaries of Company B but Company A is not the Subsidiary of Company B. Company-A is the associate Company of Company B because more than 20% but less than 50% shares of A is hold by company B. Pls clarify accordingly.

  • Ind AS Applicability
    by MOHAN on Thursday, December 15, 2016  at 04:55 PM

    Dear Sir More than 20% shares of our Company (A) are hold by another company (B). Net worth of our company (A) is less than 250 cr but Net worth of our shareholder Co.(B) is between 250-500 Cr., Hence Ind.-AS will be applicable on our Co. (A) from 2017-18. But as on 31st March 2016, Net worth of Subsidiary Co.(C) of our shareholder company (B) get exceed by 500 crores, in such case Ind As shall be applicable on Co. B & C from FY 16-17. Pls clarify Ind-As shall be applicable on our Co. (A)

  • ESOP not Exercised by Employee after vesting
    by MOHAN on Thursday, November 24, 2016  at 11:37 AM

    Dear Sir Thanks for reply but i have one query ESOP was not expired unexcersiced, it will be expire in Aug 17. But Emp. canceled it before end of expiry period. Can we trans ESOP outstanding in General Reserve ac ?

  • ESOP not Exercised by Employee after vesting
    by mohan verma on Monday, November 14, 2016  at 09:49 PM

    1. Company has granted ESOP to few employees & one director in Aug. 2010. 2. All shares was vested in Aug 2014. 3. all Employees exercised ESOP. 4. but director did not exercised ESOP because at the time of Exercise, his exercise price (900) was greater than fare value of share (600). 5. maximum Exercise period of ESOP was 7 years from Grant date, that end on Aug 2017. 6. But In May 16, director has given request to the company to cancel his ESOP. 7. Pls suggest us how to account for it.

  • DT during Consolidation
    by Kamal Garg on Tuesday, October 25, 2016  at 11:48 AM

    Whether Deferred Taxes of Holding Company can be adjusted with the Deferred Taxes of Subsidiary Company and vice versa at the time of Consolidation

  • Fair valuae of Loan and EMI
    by rahul on Saturday, October 08, 2016  at 08:57 PM

    Company has O/s loan of Rs. 50,00,000 as on Balancesheet date, which is repayable over next 36 months. Interest rate is 10%.EMI amount is 161,336.Interest payable over loan tenure is Rs.8,08,000.Please advice on below a. Whether Interest amount needs to be accounted on fair value basis? If yes,Please guide on how to calculate faire value? b.Whether loan amount needs any adjustment for fair value? If yes,please guide on how to calculate faire value for Loan? Urgent matter please reply ASAP

  • PPE
    by Kamal Garg on Thursday, September 15, 2016  at 07:20 PM

    As per Ind AS 21, Exchange differences arising on settlement or translating monetary items at rates different from those at which they were translated on initial recognition during the period or in previous f.s. shall be recognised in P & L, except as described in paragraph 32. The co. was initially capitalizing all the exchange difference on account of imports of P&M with the cost the asset due to virtue of Para 9 of AS 10. Can the company escape from expensing off the exchange difference

  • Financial Guarantee
    by Kamal Garg on Monday, August 01, 2016  at 01:26 PM

    Dear Sir Financial guarantees are treated as financial instruments under Ind AS 109. In this regard, kindly advise about: 1. what journal entry shall be passed for recording such financial guarantee it being contingent in nature 2. what is the difference between financial guarantee and other guarantee, since Schedule III for Ind AS requires disclosure of guarantees excluding financial guarantees

  • Utility deposits
    by rahul on Tuesday, July 12, 2016  at 11:08 AM

    Dear Sir, All the companies have deposits for electricity, water, sales tax etc. There is no fixed date for refund of theses deposits as entity utilizes services for very long period. But refund amount remains same. Please explain How this deposits should be recognized under IND AS 109 at initially as well as subsequently. Whether this deposit should be recognized at faire value? if yes, how to calculate fair value as there is no fixed repayment date. Please provide examples if possib

  • Ind as applicability
    by MOHAN on Wednesday, June 22, 2016  at 03:38 PM

    Dear Sir As on 31st 2015, Net-worth of our shareholder companies (shareholders having more than 20% shares in our co.) are between 250-500 Crores, accordingly Ind AS was supposed to be applicable on us from 2017-18. But as on 31st March 2016, Net worth of shareholder companies get exceed by 500 crores, in such case company has to follow Ind AS from FY 2016-17 or 2017-18. Pls clarify.

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