Forums
Provident fund
Direct Taxation
answered on 23-Feb-23 23:53
What is the difference between statutory provident fund, Recognised Provident fund and Un recognised provident fund with an example ?
latest answer
Statutory Provident Fund : set up under Providend Fund Act 1925 Recognised PF : Which is recognised by Commissioner of Income Tax Unrecognised PF : not recognised by CIT
Snehashis Mohanty
CA Inter
★ 35
1
421
Capital Gains
Direct Taxation
answered on 24-Feb-23 08:30
As per Sec 45(2), conversion of capital asset to stock in trade is taxed in the year when such stock in trade is sold.. But, in the given sum X sells the stock in trade on June 10, 2021..Then tax is payable on 2021-22. But, answer reveals that conversion will be chargeable to tax only on AY 2022-23! How is it soo? Pls clarify!
latest answer
Thnx
Pooja N
CA Inter
★ 2K+
3
538
Bonus Issue
Corporate & Other Laws
answered on 24-Feb-23 13:37
What is reason to Issue Bonus Shares to a Shareholder. The company neither gets Consideration for it and the Nominal Value of per share reduces. What is the logic?
latest answer
This might help https://youtu.be/OESBOKyK_Io?t=655
Rajasekaran Suresh
CA Inter
★ 495
4
432
Non Integrated cost accounting system
Costing
answered on 24-Feb-23 12:08
Greetings, For prepaid OHs it is said in course that we have to transfer the prepaid amount to GLA A/c but why cant we just have the same as a closing balance(debit balance) instead of transferring it. Kindly explain.
latest answer
Thanks a lot! In course it's transferred to a different account na that's why I had to confirm.
Aswin Chandar
CA Final
★ 40K+
6
597
Standard deduction
Others
answered on 30-Mar-23 19:30
In new scheme applicable from a.y 24-25 Whether pensioners ( govt teachers) can get standard deduction under new scheme ( recently announced budget)
latest answer
Ok sir.... thank you 😀
Sathiya Bama
CA Final
★ 24K+
6
691
IND AS 41
Financial Reporting
answered on 27-Feb-23 18:47
Sir in case of recognition as on 01/10/01 for 20 cows We purchase the cows at 21000( fair value) + 1000(cost to sell) = 22000 per cow For 20 cows= 22000*20= 440000 But why did u take 420000 instead of 440000 I mean u need to credit the bank with 440000 na sir Please explain sir
latest answer
No worries. Need not be sorry. It’s important that you clarify your doubts!
Thanusha Lakshmi
CA Final
★ 3K+
5
539
Deductions 80 EEA AND 80 EEB
Direct Taxation
answered on 23-Feb-23 17:20
Interest should be calculated for 12 months or 11 months?
latest answer
From date of disbursement
Sugam SM
CA Final
★ 9K+
1
423
Inventory
Accountancy
answered on 23-Feb-23 18:25
Please solve and tell me the right answer with explanation. According to the book the right answer is C
latest answer
Second bit
SUBODH M JAIN
CA Final
★ 2K+
3
527
IPCC Marksheet For Nov 22
Others
answered on 25-Feb-23 19:56
Did anyone got marksheet for IPCC nov22? How long normal it took to delivery from the date of result?
latest answer
It tooks around 3 months
Yogesh S
CA Final
★ 125
5
504
DEPARTMENTAL ACCOUNTS
Accountancy
answered on 23-Feb-23 17:19
I could not understand markup and marked down concept in this. could any one clarify these terms and also accounting procedures?
latest answer
Markup is similar to what you have learnt in consignment as invoice price.
Kamal Kumar
CA Inter
★ 7K+
2
497