Forums
COC
AFM
answered on 12-Sep-25 09:23
Sir, Why are we not taking COC here in this computation when we are computing 1 month futures value? [Video Time Stamp: 24:53]
latest answer
Coc
Sahal Shalu
CA Final
★ 0
1
103
Pilferage of Goods kept in warehouse
Indirect Taxation
answered on 22-Sep-25 12:21
Sir, in this lecture it has been explained that if the goods were pilfered after unloading but before clearance for home consumption / warehousing, then import duty will not be paid. And if order for clearance (for home consumption / warehousing) is made and there is pilferage before actual clearance (for home consumption / warehousing), then duty is payable. But if after the goods were cleared for warehousing and they were pilfered in the warehouse, then shall the importer be liable to pay the import duty? I am asking this because section 13 does not apply to warehoused goods, and because section 23 does not deal with pilferage. But in the ICAI Study Material it is written that the logic behind sec. 13 is that when the goods are not in the control of the importer, he should not be required to pay duty on such goods. But there is no clarity regarding pilferage of goods that are kept in warehouse.
latest answer
Agreed.
Vignesh Panigrahi
CA Final
★ 1K+
3
177
Consolidation
Accountancy
answered on 14-Sep-25 12:17
What is the way to calculate the goodwill and the capital reserve
latest answer
The Reserves and Surplus of S Ltd. as on 1st April 2023 were ₹5,20,000. Out of this, the portion considered as capital profit is ₹5,20,000, while the remaining ₹4,10,000, along with adjustments, is treated as revenue profit, giving a closing balance of ₹9,30,000. An abnormal gain of ₹9,000 is deducted from revenue profit and added to capital profit (since its purely pre acquisition) The bonus part is reduced from capital column and added to revenue column Also apportion dividedn between pre and post. Adjust revaluation of plant and machinery. Post this you should be able to get. Share your working here. Will correct if required.
Bobby Saini
CA Inter
★ 100
1
168
Referal Fee's
Auditing
answered on 13-Sep-25 09:43
Ma'am is my understanding is correct for the following example For suppose Mr.A is a CA in practice and a person who is Mr.B who is working as Filing of GST returns and is not CA and he has referred Mr.C to Mr.A for some Income tax dispute purpose and Mr.B asked to pay the Referral fee out of the fee received from Mr.C. Now this payment will be guilty of professional misconduct as he paid to other than persons mentioned in clause 2. [Video Time Stamp: 00:00]
latest answer
Okay Ma'am. Thank you.
K Vamshi
CA Final
★ 14K+
2
110
Doubt
Auditing
answered on 13-Sep-25 09:16
Sqc1 (quality of audit as a whole firm) *includes* sa220 (quality in audit of fs)? [Video Time Stamp: 12:23]
latest answer
Yes . SQC 1 is for all engagements. And one such engagement is audit.
Sri Kanth
CA Inter
★ 650
1
101
Rebate under default regime
Direct Taxation
answered on 12-Apr-26 23:33
As per old regime rebate is applicable for income other than 112A by satisfying certain limits. As per the new regime, whether rebate is applicable for other special rated income? For example, Resident individual sold land (LTCG) of Rs. 5 lakhs (COA - Nil) on 31.12.24. Having no other income. What is the tax payable amount?
latest answer
Exactly.
Balaji K
CA Final
★ 7K+
5
165
ROCE
Financial Management
answered on 10-Sep-25 11:30
Sir, while computing, earlier in the formula learning sessions, we had, either [EBIT (1-tax)]÷Capital employed. Or PAT÷ Capital employed... In both the formula, we didn't included the interest component in the numerator. We took whatever value is after tax available. But now in the second formula, we are adding back interest component? Why sir? [Video Time Stamp: 05:28]
latest answer
Thank you sir
Vinod Kumar
CA Inter
★ 11K+
4
99
Illustration-13
AFM
answered on 10-Sep-25 08:46
Sir can you please elaborate why did we shorted the shares in this case for hedging purpose ?
latest answer
Hedge
Harini Desu
CA Final
★ 2K+
1
100
Contract act
Corporate & Other Laws
answered on 12-Sep-25 15:29
Anna intended to deceive Mr. John. She explained her business in the presence of Attul, a close friend of John. John, influenced by the statements of Anna, invested some amount in her business. Later, on 18th March, Attul contacted Anna and invested money in her business. After some time, Attul came to know that Anna made false statements with fraudulent intention. Attul suffered financial loss. 1. According to the Indian Contract Act, can Attul sue Anna? 2. If Attul had made investment on the insistence of John, can he still sue on anna
latest answer
Yes, Attul can sue Anna under the Indian Contract Act, since Anna’s fraudulent statements, made in his presence, directly induced him to invest. If Attul invested only due to John’s personal insistence (without relying on Anna’s words), he cannot sue Anna. But if John’s insistence was based on and conveyed Anna’s false statements, then Attul can still sue Anna.
Sree Sree
CA Final
★ 3K+
1
111
Format of P/L
Financial Management
answered on 09-Sep-25 17:11
Sir, the entity, Alpha Ltd in the question is a public Co. So, shouldn't the P/L be as per Schedule III i.e., vertical? [Video Time Stamp: 40:10]
latest answer
Ok Sir.
Rahul Anand
CA Inter
★ 6K+
2
96