Forums
Estimation of working capital
Others
answered on 25-Jan-23 13:00
I have one situation can anyone tell me that. Let's say the net working capital that you require is 10 lakhs from where you will rise.5 This is the question. whether this from short term source or long term source Answer with explanation....?
latest answer
This is short term source just because ( WC = Current asset - Current liabilities) they both are realised as a short term so the WC is also consider as short term source
Balachandar S
CA Inter
★ 59K+
13
387
24(b)
Direct Taxation
answered on 24-Jan-23 19:06
Here how can we take 200000 of deduction. Question is silent about 3 conditions. Only 30000 is max deduction I suppose from both the houses
latest answer
It is right only. We can take Rs. 2,00,000 as deduction as the maximum ceiling limit for deduction is Rs. 2,00,000 in respect of loan take for building the houses. The 30,000 limit is only for loans taken for repairs. Here, the question clearly specifies that the loan has been taken for building (constructing) the houses and both the houses are for own residence (self-occupied). Hence, interest on loan for this purpose, has the maximum ceiling limit of Rs. 2,00,000. You may refer the highlighted parts of the image attached hereby.
Sugam SM
CA Final
★ 9K+
1
405
Registration of name for business
Others
answered on 23-Jul-25 15:47
Can we register a name for our business (sole proprietor/partnership firm) . It shall not be used by others in future.
latest answer
Hello Great question — registering your business name is an important initial step in protecting your brand and its identity in the market. Here’s a breakdown based on whether you're registering as a sole proprietorship or partnership: 1) Can you Register a Name for your Business so others can't use it in the future? Yes, you can, but just using a business name doesn’t automatically give you exclusive rights to it. To ensure others don’t use the same or a confusingly similar name, you need to take a few formal steps depending on your business structure and long-term goals. 2) Steps to Protect your business Name in India: a) Register under MSME / Udyam (for Sole Proprietorship or Partnership): You can register your business under the Udyam portal as a sole proprietorship or partnership. This helps with recognition and access to certain schemes, but it does NOT give you exclusive rights to the name. b) Partnership Firm Registration (optional but recommended): You can register the partnership firm with the Registrar of Firms under the Indian Partnership Act, 1932. However, even this does not prevent others from using a similar name. c) Trademark Registration (most effective protection): To truly protect your business name and prevent others from using it, you should apply for a trademark with the Controller General of Patents, Designs & Trademarks. A registered trademark gives you exclusive legal rights to the name for your goods/services across India (subject to the class you register under). 3) Summary: You can register your business name under Udyam/MSME or as a firm. But to stop others from using your business name, the most secure route is to register it as a trademark. For that, you can check name availability on the MCA website (for LLPs/Companies) and IP India portal (for trademarks). Suggestion: If you’re serious about brand protection, consult a chartered accountant or professional trademark attorney (e.g. Setindiabiz) to guide you through name availability checks and filing. Hope this helps!
Eswar K
CA Final
★ 125
15
924
Please explain
Direct Taxation
answered on 23-Jan-23 23:06
Transfer includes Relinquishment and extinguistment please explain both in simple terms
latest answer
Extinguishment is the cancellation or destruction of a legal right, interest, or contract. Debt is considered extinguished when the borrower pays the full balance of the debt, and the creditor releases the borrower.
Dhakshana Dhakshana
CFA L2
★ 18K+
2
370
Single entry system - illustration 5
Accountancy
answered on 23-Jan-23 21:37
Can someone help me with creating and ledger for building account....... Am getting an addition value of Rs 8000 where as in books it is Rs.4000
latest answer
no problem brother
poco m2 pro
CA Inter
★ 3K+
7
341
Dividend Decisions
Financial Management
answered on 24-Jan-23 09:21
In the ICAI material, it is written that when IRR is more than cost of capital, it is better to distribute earnings, but as per Walter and Gordon's model, zero earnings should be distributed when IRR is more than the cost of capital
latest answer
If IRR is higher, it is better to retain.
Sarthak Aggarwal
CA Final
★ 9K+
1
460
Chapter-Buyback of shares Illust-4
Accountancy
answered on 24-Jan-23 09:17
Why securities premium used to adjust premium on redemption of preference shares?
latest answer
So when a company complies with Accounting Standards, it cannot use securities premium account to provide for premium. So the ideal entry should be to Debit to P&L and not securities premium account.
Vasu Naidu
CA Inter
★ 0
4
681
Branch account
Corporate & Other Laws
answered on 23-Jan-23 17:01
Books of accounts of branches are prepared and stored in branch itself and summarised returns are periodically sent by branch to head office. Is the above statement true
latest answer
It depends on case to case basis
Krishnan K
CA Inter
★ 5K+
1
386
Functions of Accounting
Accountancy
answered on 26-Jan-23 18:18
It says that Accounting measures past performance and PRESENT financial position. Question is this , without preparing current period's Profit and Loss a/c, how can it measure PRESENT FINANCIAL position ? Please guide me
latest answer
It is true that Accounting measures past performance and PRESENT financial position. Past performance means the entity's performance in the past accounting year is reflected thought P & L. The P & L can be prepared only when the past period ends and it shows the performance of the entity in the past period. Present Financial Position refers to the current position of the entity through its Balance Sheet. It shows the entity's position as on a particular date. So, Past Performance - P & L Present Position - Balance Sheet And, it is true that Balance Sheet can be prepared only after the preparation of the P & L
Thankachan Jimmy
CMA Inter
★ 0
3
387
Managerial remuneration - account
Accountancy
answered on 23-Jan-23 09:21
For the computation of managerial remuneration the questions quote two depreciation of a company One as per the act and another what the company has charge from p&l So does it possible that the depreciation as per the Act and provided depreciation would be different??
latest answer
Yes that difference may due to some provisions of act and depreciation in income tax allows only wdv method unless there is exemtion by act ex for electricity company Refer AS 22
Atharv Sankliya
CA Final
★ 3K+
3
358