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44AD - Presumptive Basis of Taxation
Direct Taxation
answered on 19-Aug-22 10:44
As per the image below , Audit u/s 44AB(e) is applicable only for 44AD(4) and not for 44AD(1). While 44AD(4) only mentions about the existing assessees who have opted for the presumptive basis and not for the assessees who are first time opting the presumptive basis. So if the assessee has not opted for the presumptive basis u/s 44AD in any of the previous years, then does that mean, he is not liable to Audit u/s 44AB(e) ?
latest answer
Thank you Sir. Kindly ignore this question which was posted separately in the forums
Avasarala Vivek Aditya
CA Inter
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Preparation
Others
answered on 23-Aug-22 10:33
Is it enough to complete costing and accounting within one month in one go and by single revision
latest answer
Possible...all the best
Mohanraj S
CA Inter
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486
Redemption of Debentures
Accountancy
answered on 19-Aug-22 08:13
While calculating premium on redemption, equity shares which were converted ie. 15000 shares are also included? Why?
latest answer
Okay! Thanks bro...
Bumble Bee
CA Final
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549
Queries
Others
answered on 18-Aug-22 22:48
I have ca foundation books Revised edition : October,2020 Reprint : January,2021. Could I use this study material for Nov 22 attempt. Is there any changes in the syllabus?
latest answer
Not fully changed u can use that book But make ensure that in paper 1 some extra true/false are added and in law there are some amendments in LLp and more on ...... In bck chapter 3 some ranks of the company also changed so kindly note a note on this thing
Dhanu Shree
CA Inter
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5
443
Journal Entry
Accountancy
answered on 18-Aug-22 22:53
1.Are bad debts personal a/c or nominal account?? 2.what is the journal Entry for Bad Debts??
latest answer
***Bad debts account are nominal accounts used to minimize the amount of accounts receivable on the income statement ***Record the journal entry by debiting bad debt expense and crediting allowance for doubtful accounts. When you decide to write off an account, debit allowance for doubtful accounts and credit the corresponding receivables account. I hope it helps you
Prathmesh kharul
CA Foundation
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620
Deposits
Corporate & Other Laws
answered on 18-Aug-22 22:22
Market value of asset is 1200,000 Amount of debentures or bonds is 15,00,000 Whether it is a deposit or not? If it is a deposit, Which amount is treated for purpose of deposit 12 lacs/15 lacs /3lacs ???
latest answer
Thank you mam..
Sajeetha R
CA Final
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2
496
Investment accounting
Accountancy
answered on 19-Aug-22 08:58
Can anyone explain, how the dividend of 7500 pertains to pre acquisition period...
latest answer
Tq sir,
Sajeetha R
CA Final
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508
Risk Analysis in Capital Budgeting
Financial Management
answered on 24-Aug-22 02:48
In this question they have calculated Profitability Index by takin cash flows and not discounted cash flows.
latest answer
Ok sir
Harsh Mittal
CA Final
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565
Prospectus and allotment of securities
Corporate & Other Laws
answered on 19-Aug-22 11:14
Is this limit for one private placement or company should carry 50 different pvt placements for 50 different people. In one pvt placement how many investors can be involved?
latest answer
Private placement applies to unlisted as well as listed companies. So even if an unlisted company makes a default, it will be deemed public offer. Which means all the penalties will apply to such company as if they did an improper public offer without compliance of the Act and Rules.
Sugam SM
CA Final
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Capital Gains
Direct Taxation
answered on 19-Aug-22 09:34
How does concessional rate of tax u/s 112A help minimize economic distortions?
latest answer
In order to avail of the concessional rate under section 112A, the period of holding of the assets should be greater than one year and the capital gains should be more than Rs. 1 lakh and the assets invested are equity share in a company or a unit of an equity oriented fund or a unit of a business trust; Thus it will motivate investors to invest in economy (shares and units) and hold it for long time
Rinuja TK
CA Inter
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1
422