Forums
Depreciation
Accountancy
answered on 02-Aug-22 22:33
Why is provision of depreciation account opened?
latest answer
Many companies want to show their assets at book value . They create a provision for depreciation instead of reducing it from the asset.
Jensy Devadhas
CA Foundation
★ 2K+
3
443
Important query pls anyone help me out.
Others
answered on 02-Aug-22 20:38
Sir /mam As of now i am a ca foundation student.... So i used to get the student journal from icai..at every month. But the issue is around last 4 to 5 months I didn't get ca foundation student journal from the icai.... So now should i do anyone guide me pls.
latest answer
Ok sister
Balachandar S
CA Inter
★ 59K+
6
447
AS 2 valuation of inventories
Accountancy
answered on 02-Aug-22 17:07
Please explain this illustration problem of accounting standard 2 I need solution please my dear friends
latest answer
Thank you so much my dear friend..
MPR Sanjay Kumar
CA Inter
★ 530
2
493
Why Direct and Indirect Taxation ?
Direct Taxation
answered on 03-Aug-22 09:11
If an assessee is having an income of Rs 10 lakhs. Then he will pay tax on that Rs 10 lakhs. So that income of Rs 10 lakhs is tax paid income. After that, I purchase some groceries worth Rs 5,000 .But again I am paying GST on that Rs 5,000, which I have already paid the income tax on it. So, Is this not a cascading effect or double taxation ? Is there any chance that Income tax will be removed in the coming years or decade and only ONE NATION ONE TAX will prevail ?
latest answer
GST is tax on consumption and Income tax is tax on income While it may appear it is double taxation, the fact is both are of diff nature and intended for diff purposes. GOI needs revenue, hence then need to levy taxes at various points to collect that .
Avasarala Vivek Aditya
CA Inter
★ 6K+
9
493
Marginal relief
Direct Taxation
answered on 08-Aug-22 00:03
Answer is (b) 12,67,600.. I got wrong answer, can anyone give me calculations?
latest answer
Thank you for the same
Sajeetha R
CA Final
★ 46K+
3
615
Salaries
Direct Taxation
answered on 02-Aug-22 13:28
In illustration 12, on computation of taxable value of perquisite, 'treatment of Mr. G's sister (dependent) in a nursing home' is not regarded as exempt. Whereas explanation to proviso to section 17(2) states that hospital includes a dispensary or a clinic or a nursing home. When [in what case (eg.) ], the above explanation is applicable?
latest answer
Yes the hospital includes nursing Home, but it should be maintened by the employer or it should be a government /government aided hospital.. In question they has not mentioned about the nursing home as employor 's or government or government aided, So only this not exempt
Rinuja TK
CA Inter
★ 10K+
1
452
TIME OF SUPPLY
Indirect Taxation
answered on 04-Aug-22 18:30
Time of supply of goods under forward charge [12(2)].. Is there any provisions regarding composite supplier ? For nov 2022
latest answer
Date of payment is not relevant in case of goods general rule. As per general rule, DOI means actual date of invoice and last date on which invoice is ought to have been issued under Section 31 whichever is earlier.
Prakash Murugan
CA Inter
★ 710
8
443
#2 Inter: Question of the day
Corporate & Other Laws
answered on 02-Aug-22 22:03
Answer by 8pm. Write the answer as you will write in the exam in your sheet/copy and share photo. Examine the validity of the following statement referring to the provisions of the Companies Act, 2013 and/or Rules: 'The Articles of Association of X Ltd. contained a provision that upto 4% of issue price of the shares may be paid as underwriting commission to the underwriters. The Board of Directors of X Ltd. decided to pay 5% underwriting commission.'
latest answer
Thankyou sir
Sahibdeep Singh
CA Inter
★ 14K+
17
3K+
Explanation 2 to Section 9 (1) (i)
Direct Taxation
answered on 02-Aug-22 06:35
"Merchandise" - meaning?
latest answer
Goods
Girinath A
CA Inter
★ 765
1
384
AS-2
Accountancy
answered on 02-Aug-22 09:36
Need explanation with example This standard does not apply to Work in progress arising in the ordinary course of business of service provider
latest answer
AS-2 doesn't apply to the Work in Progress (WIP)means service which are partially provided during the end of the financial year
Nikita Rajpurohit
CA Inter
★ 0
2
428