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Salary definition 17(1)
Direct Taxation
answered on 07-Mar-23 14:57
Pls explain G and H point from the picture.it is taken from salary definition 17(1)
latest answer
(g) Contributions by the employer more than 12 % or the annual interest exceeding the notified rate on balance to the credit of an employee’s recognized provident fund. (h) PF balance transfer - taxable portion of the transferred balance from an unrecognized PF to a recognized PF is Salary
Gokul Nath
CA Inter
★ 605
1
434
ITC
Indirect Taxation
answered on 07-Mar-23 11:35
What is the percentage of unmatched credit to find eligible ITC?
latest answer
Now everything is amended and no unmatched credit to be taken
Priya Ravi
CA Inter
★ 55K+
2
513
Salaries
Direct Taxation
answered on 07-Mar-23 12:54
Sir /Mam may i know What is the differences between incentive,fringe benefits and perquisites.
latest answer
Incentives: Incentives are rewards that are offered to employees to motivate them to achieve specific goals or objectives. They are typically tied to performance metrics, such as sales targets or productivity goals. Examples of incentives include bonuses, commissions, profit-sharing plans, or stock options. Fringe Benefits: Fringe benefits are additional perks that are offered to employees as part of their compensation package. They are not directly tied to performance but are designed to provide additional value to employees beyond their base salary or an hourly wage. Examples of fringe benefits include health insurance, retirement plans, paid time off, tuition reimbursement, and wellness programs. Perquisites (Perks): Perquisites, also known as perks, are non-cash benefits or privileges that are offered to employees as a reward for their status or position within the company. They are typically offered to executives or high-level managers and are intended to enhance their lifestyle or status. Examples of perquisites include company cars, expense accounts, private jets, or personal assistants.
Vijay Anthony
CMA Inter
★ 6K+
2
441
Income Tax
Others
answered on 07-Mar-23 15:45
Is Sec 269SS is applicable for Chit Subscriptions? Chit subscription is daily transction, is it said to be loan or deposits?
latest answer
deposit - covered.
Gayathri
CA Inter
★ 11K+
1
459
Recovery from debtor
Accountancy
answered on 07-Mar-23 22:38
A company have a debtor of rs 1 crore and the debtor is unable to pay the debt so he give his machinery to company to realise debt so under which head the company record this machinery??
latest answer
Ok thanks sir
Atharv Sankliya
CA Final
★ 3K+
16
423
Partnership sale to company illu 6 and 9
Accountancy
answered on 06-Mar-23 17:36
The illustration 6 and 9 are somewhat the similar but in the partners capital account of iilu 6 in the balance c/d on 29.6.2 the cutrent year profit and drawing is not adjusted it is adjusted later.but in illu 9 the bal c/d is after adjustment of current year profit. I have underlined the partners capital ac in pink where i have doubt
latest answer
You can adjust it either ways. Appropriate treatment is to use P&L appropriation account.
Gauri Shete
CA Final
★ 5K+
3
489
Capital Structure
Financial Management
answered on 06-Mar-23 17:14
Market value of levered firm = value of equity + value of debt. Then why are we adding tax advantage instead of value of debt ?
latest answer
V (L) = V (U) + [Debt x Tax]
Dhivya Sriraman
CA Inter
★ 0
2
475
Annual genaral meeting
Corporate & Other Laws
answered on 06-Mar-23 21:55
M.D of the company can call Annual General Meeting without reference to the board
latest answer
No
Rtr techinfo
ACCA Knowledge
★ 0
1
430
Theoretical Accounting
Accountancy
answered on 07-Mar-23 15:46
taking machine in rent is capital or revenue expenditure
latest answer
In CA Inter & CA Final you will understand cases where rent payments are also capitalised and shown on balance sheet. These are advanced level concepts.
Rohan Kumar
CA Foundation
★ 5
4
387
Retrospective
Indirect Taxation
answered on 07-Mar-23 13:56
If any amdmt leads taxable retrospectively, then previously not taxable goods are taxable as now and previously also?
latest answer
Retrospectively means provision/ Section will apply back dated.
Kamal Kumar
CA Inter
★ 7K+
2
512