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Introduction
Indirect Taxation
answered on 17-Sep-23 17:33
What do you mean by Declared goods of special importance?
latest answer
These are the goods specified as declared goods of special importance
Soon to be CA
CA Inter
★ 4K+
1
480
Notes
Others
answered on 21-Sep-23 10:23
Hello sir please suggest me related to taking notes when the classes running own handwritten note is best or after completing class with a concept self study for icai module for conceptual clarity taking sticky notes for important points both practical and theory subjects I preparing ca inter both groups may 2024
latest answer
Thanks sir
siddesh N
CA Inter
★ 4K+
4
403
As 3
Accountancy
answered on 16-Sep-23 21:18
In this cash outflow towards purchase of plant is 20,000 (120,000-100,000) because for 1,00,000 we issued bonds as consideration. Then in this sum why they reduced 120,000 as outflow towards purchase of plant
latest answer
Point 3 is separate point and point 5 is separate point
Krishnan K
CA Inter
★ 5K+
5
410
80C
Direct Taxation
answered on 18-Sep-23 17:22
can any one say ,prinicipal repay deduction under section 80C is available only for let out property or both self and let out residential house properly?
latest answer
Yes. It is available for principal repayment of housing loan.
Mahalakshmi S
CMA Inter
★ 2K+
6
447
Recognized provident Fund
Direct Taxation
answered on 16-Sep-23 18:46
Employer contribution in RPF in excess of 12% is taxable under the head salaries. what are the components should be considered to calculate salaries? Basic + DA + Commission? In attached the screen shot employer contribution is calculated only on Basic salary which is 120000 however exemption amount is calculated on Basic + DA (forming part of retirement benefits) + commission. Any reason for the two different calculations for salaries in this scenario Can anyone clarify the below also please? 1.Thumb rule to consider DA forming part of retirement benefits while calculating salary for PF, Gratuity, Leave encashment and pension. 2. Salary for the purpose of PF, Gratuity, Leave encashment and pension
latest answer
Contribution can be defined differently. However for income tax purpose 12% of Basic + DA + Commission is considered
SreeSree Vedu
CA Inter
★ 8K+
3
1K+
Material Costing
Costing
answered on 17-Sep-23 17:04
In November 2022 , Q1(c)(ii) the calculation of Reorder point is done taking maximum consumptn & lead time with safety stock in suggested answer. I am not getting it why they taken such figures , please explain it.
latest answer
Welcome
Mehak K
CA Final
★ 3K+
5
396
General doubt
Direct Taxation
answered on 16-Sep-23 18:51
Actually i have a house property leased to a pvt. Ltd And now the lessee came up with a novation agreement on changing from old lesse to a new lessee, who is a sister company of old lessee. What would be the reason for this sudden novation ? Is there something fishy 😨 The above case study is real And my father is lessor and x pvt ltd is the lesse who wishes to change the name of lesse In novation agreement it's also Stated that " all terms and conditions are applicable to the original LEASE agreement" Is there any problem for the lessor ? 🥲 Sir please answer as fast as possible Lessor needs to sign the novation agreement That's why my father is concerned about the negative consequences that might occur due to this novation.
latest answer
Okay fine sir Actually at starting i decided not to ask this doubt, which has really happened to me . But i don't know how the anxiety made me to ask😅.
SAI AKASH GORU
CA Final
★ 750
13
431
Small company
Corporate & Other Laws
answered on 16-Sep-23 13:57
As per sec 2(85) definition of small company if companypaid up capital is 6cr and turnover is 50cr will it become small company ??
latest answer
No, the paid up share capital and turnover should not be more than 4 crores and 40 crores.
Pavann Reddy
CA Final
★ 31K+
1
353
Accounting for special transaction
Accountancy
answered on 21-Sep-23 20:18
Why due date is not entertained in the transaction happened in April 20 as the question has given the invoice as 15.4.2020 which is within the closing date? please answer as soon as possible
latest answer
That is dishonour entry
Divinne Fiona
CA Inter
★ 9K+
2
384
how come outstanding liability is a element of cash flow
Accountancy
answered on 16-Sep-23 12:43
page no. 11.93 and 11.92 of new syllabus illustration no. 6 ryan ltd.
latest answer
As per indirect method, to adjustment of net profit we are showing outstanding liabilities even through no cash flows. But, as per direct method we are not to be shown this type of expenses only cash receipts and cash payments.
Angry Toshniwal
CA Final
★ 505
3
715