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Itc
Indirect Taxation
answered on 10-Jan-23 17:03
Lawyer took service from MrA â?¹10000, gst â?¹1800 Lawyer provided service to business entity â?¹100000 + â?¹18000 gst Lawyer canâ??t claim itc on â?¹18000 Can lawyer claim itc on â?¹1800 ? Reason and section
latest answer
No he cannot claim since he is not paying output tax.
Sushmita Chowdhury
CA Inter
★ 0
7
511
Tax
Direct Taxation
answered on 05-Jan-23 23:15
Compute Tax of Ram Lal age 35 & not u/s 115BAC. Business Income : 1 lakh LTCG u/s 112A : 2 lakh Casual Income u/s 115BB : 2 lakh
latest answer
Tax @20% on 50000(after exhausting exemption limit of Rs.2.5L for Business income and LTCG @Rs.1.5L) Tax@30% on Rs.2L on casual income
Bhuvan Bhaskar
CMA Inter
★ 2K+
2
450
56(2)(x) and Cross Transfer in Clubbing
Direct Taxation
answered on 06-Jan-23 20:49
In case of cross transfer in clubbing and gift u/s 56(2)(x) contravene each other , then which provision would override ?
latest answer
Rs 50000 is not to be included as income as it is received from a relative but if recipient earns any income from that amount then such income will be included in the income and clubbing provision will apply on such income earned
Varun Mulay
CA Final
★ 38K+
3
2K+
Can company appoint more than one auditor?
Auditing
answered on 05-Jan-23 09:25
Can company appoint more than one auditor?
latest answer
Joint Auditors: more than one auditor appointed to conduct the audit of large entities. They conduct audit jointly & report on the financial Statements. Example: Reliance Industries Limited has three auditors namely Chaturvedi & Shah, Deloitte Haskins & Sells LLP, Rajendra & Co.
Atharv Sankliya
CA Final
★ 3K+
2
639
30 percentage mock test includes how many chapters
Others
answered on 05-Jan-23 06:00
How many chapters for 30 percentage mock test
latest answer
Refer to the syllabus inside the mock test
Madhu Reddy
CA Inter
★ 4K+
1
392
Ind AS-19
Financial Reporting
answered on 06-Jan-23 16:36
Why we are crediting return on plan assets as per acturial assumption instead why can't we credit what really accrued to it?
latest answer
Ok sir tq
Pavansai Lanka
CA Final
★ 200
2
381
AS-10
Accountancy
answered on 05-Jan-23 06:02
What is revaluation reserve account and why it is used?
latest answer
Revaluation gain is unrealised and hence kept separately in revaluation reserve
Snehashis Mohanty
CA Inter
★ 35
3
364
Bad debts deduction under PGBP
Direct Taxation
answered on 05-Jan-23 09:46
Plss explain this provision
latest answer
I think it means ..suppose debt is 50k,and bad debts u allowed is say 5k..then the difference between the above two,ie,the amount of debt u expected to recover,is 45k..suppose u actually recover 44k instaed ..that loss of 1k will be allowed as a deduction in addition to the 5k bad debts u already allowed
Reetikaa R
CA Final
★ 7K+
2
414
Chapter 10 - Hire Purchase - Illustration 8 - IL Course video 24.
Accountancy
answered on 09-Jan-23 16:32
Hello, In the above mentioned question it is given that the amount due to hire vendor is paid in 3 equal installments together with interest, Kindly clarify if this means the 3 installments should be equal and we should find the installment value using PV/Annuity formula or only the principal repayment in those installment should be equal and actually installment value can differ(as shown in video). Thank you.
latest answer
Ok thanks for the clarification sir.
Aswin Chandar
CA Final
★ 40K+
15
548
Buyback of shares
Accountancy
answered on 20-Jan-23 23:18
Is dividend equilisation fund free reserve?
latest answer
Yes, it is a free reserve.
Angel Maria Varghese
CA Final
★ 9K+
2
485