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Exam form
Exams
answered on 16-Aug-22 18:36
Is exam form for ca foundation out now and what is last date for it
latest answer
Not yet announced
Khushboo Thakan
CA Inter
★ 6K+
4
481
Exam form
Exams
answered on 16-Aug-22 21:32
Is exam form for ca foundation out now and what is last date for it
latest answer
Not yet released
Khushboo Thakan
CA Inter
★ 6K+
5
508
Friends I need information
Exams
answered on 16-Aug-22 11:48
Is there any option to fill for exam registration of this November 22 in our SSP portal???
latest answer
You're welcome
MPR Sanjay Kumar
CA Inter
★ 530
9
437
#12: Question of the day (Inter)
Accountancy
answered on 16-Aug-22 21:14
Write the answer in a sheet as you would write in exam and send photo by 8pm. #LetsPractice U Limited has obtained a term loan of Rs. 620 lacs for a complete renovation and modernization of its Factory on 1st April, 2020. Plant and Machinery was acquired under the modernization scheme and installation was completed on 30th April, 2021. An expenditure of Rs. 564 lacs was incurred on this Plant and Machinery and the balance loan of Rs. 56 lacs has been used for working capital purposes. The company has paid total interest of Rs. 68.20 lacs during financial year 2020-2021 on the above loan. The accountant seeks your advice how to account for the interest paid in the books of accounts. Will your answer be different, if the whole process of renovation and modernization gets completed by 28th February, 2021?
latest answer
Correct answer: Rs. 62.04 lakh to be capitalised and Rs. 6.16 lakh to be charged to Profit and Loss Account. If the whole process of renovation and modernization gets completed by 28th February, 2021; P&M will not be considered as qualifying asset. In that case, entire interest to be charged to P&L. For details, please refer the pic below.
Sahibdeep Singh
CA Inter
★ 14K+
1
1K+
Leave encashment
Direct Taxation
answered on 16-Aug-22 12:05
What's mean by that
latest answer
Note: as per Income Tax act , Leave encashment is fully taxable from part of income from salary......
Shankari C
CA Inter
★ 3K+
4
450
Exam form
Others
answered on 16-Aug-22 11:01
Is the ca foundation exam form link has been released by icai? When will it release?
latest answer
Notify soon by ICAI
Dhanu Shree
CA Inter
★ 0
6
370
Co account
Accountancy
answered on 17-Aug-22 16:46
What is reserve capital with understanding example
latest answer
Always welcome
Deepa
CA Inter
★ 18K+
10
386
What is paid up share capital
Corporate & Other Laws
answered on 16-Aug-22 10:12
What is paid up share capital ?
latest answer
The amount called up and paid by the shareholders.
Sai G
CA Inter
★ 6K+
7
453
Effect of release of one joint promisor
Corporate & Other Laws
answered on 24-Aug-22 20:11
If creditor has released any one of the joint promisor then he can cover overall amount from others or he can cover only the amount remained from other promisors For eg:- A and B are joint promisor and theymake promise to pay rs 60000 to C, meanwhile C release A from joint promise, whether C can recover total amount or only rs 30000 from B
latest answer
here according to section 44 a joint promisor may be released from a contract by the joint promisee but he has whole right to recover full amount the joint promisor are liable for. according to your example if C release a from contract he can demand and claim all amount there is due on A and B from B i.e. he can claim all amount 60000 from B but B has right to claim the amount paid by him on behalf of A i.e. 30000 from A though he is released from the promise by C
Samarth Kshatriya
CA Inter
★ 1K+
4
748
Performance of a contract
Corporate & Other Laws
answered on 16-Aug-22 07:08
What is a major difference between succession and assignment
latest answer
Yes crt bro
Samarth Kshatriya
CA Inter
★ 1K+
3
2K+