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CA inter group 2 AS
Accountancy
answered on 18-May-22 17:14
In may 2021 RTP - AS 14 question is given But in may 2022+ nov. 2021- AS 14 is not given I have October -2020 module In which AS 14 is given So my question - is AS 14 application for may 2022 examination.?
latest answer
Yes
Jiya T
CA Inter
★ 10
3
469
Forfeiture of shares
Accountancy
answered on 18-May-22 14:19
Please explain me regarding X's re-issue And capital reserve entry? Like why we transfer to capital reserve although we have issued at premium. Till here I have done
latest answer
Good!
Sugam SM
CA Final
★ 9K+
3
438
International Taxation - Transfer Pricing
Electives - Final
answered on 26-May-22 13:37
A Ltd. filed its return of income for A.Y.2020-21 disclosing total income of â?¹.20 crore. During the course of assessment, the Assessing Officer made a primary adjustment of â?¹.2 crore and passed an order on 1.6.2021 in respect of an international transaction denominated in Indian rupees, consequent to which the total income of A.Y.2020-21 has increased to â?¹. 22 crore. The excess money of â?¹.2 crore has not been repatriated till date. What are the consequences of the primary adjustment made and non-repatriation of excess money in computation of total income of A.Y.2022-23, if it is assumed that A Ltd. has opted to pay additional income-tax@20.9664% on â?¹.1 crore on 1.12.2021? Assume that the one year marginal cost of fund lending of SBI as on 1.4.2021 is 8.5% and as on 1.4.2022 is 9%. (a) Interest of â?¹. 9.754 lakhs to be included in total income of A.Y.2022-23 (b) Interest of â?¹. 9.792 lakhs to be included in total income of A.Y.2022-23 (c) Interest of â?¹. 15.645 lakhs to be included in total income of A.Y.2022-23 (d) Interest of â?¹. 16.311 lakhs to be included in total income of A.Y.2022-23 In the Material Answer Given (C) Can anyone guide me the answer for this MCQ.
latest answer
Applying the provisions of Section 92CE and Rule 10CB, Where the excess money is not repatriated within the time limit of 90 days, interest shall be charged on the excess money or part thereof. The interest shall be computed at one year marginal cost of fund lending of SBI of relevant previous year (2021-22 in the given case) + 325 basis points. Also, in case of payment of additional tax, secondary adjustment is not required to be made and interest need not be computed from the date of payment of tax, which means interest has to be computed till the date of payment of tax (1.12.2021 in the given case) Interest computation will be done from the date of the order of the AO - 1.6.2021 In the given case, the rate at which interest has to be computed is 11.75% (8.5%+3.25%). In simple terms, interest on 1 crore on which additional tax is not paid shall be computed at the rate of 11.75% for the period of 1.6.2021 to 31.3.2021 and the interest on 1 crore on which additional tax has been paid shall be computed at the rate of 11.75% for the period of 1.6.2021 to 1.12.2021. The calculation comes to approximately Rs. 15.6 lakhs.
B S Suraj
CA Final
★ 32K+
1
631
ITC
Indirect Taxation
answered on 20-May-22 23:00
Sir .... Registration apply within 30 days Untill i recieve certificate of registration Date of liability arise - certificate of registration ( in this period i am selling the goods , gst should form part of my cost ( here gst means. I pay gst when i bought it should i add into my sale value ) when i am selling that goods in those period )
latest answer
Yess
Nivetharaman Raman
CA Foundation
★ 11K+
6
529
As 12 Government grants.......
Accountancy
answered on 20-May-22 21:55
In certain cases government grants are refunded , how cab I find out this grant is refund to government?? What are the categories
latest answer
Thank you
MPR Sanjay Kumar
CA Inter
★ 530
4
435
Other Laws
Corporate & Other Laws
answered on 18-May-22 11:25
Please explain which is the correct answer?
latest answer
In guarantee contracts, one party contracts to perform a promise or discharge a liability of a third party. This will happen in case the third party fails to discharge its obligations and defaults. In the given case Mithun is discharging the liability of Rupesh, as Rupesh defaulted to Bank
TIRTH SAGAR
CA Inter
★ 3K+
4
466
Purchase Consideration
Accountancy
answered on 18-May-22 10:34
In this problem how to calculate no.of preference shares?
latest answer
Yes
Kumar G
CA Final
★ 12K+
6
436
Bailment
Corporate & Other Laws
answered on 18-May-22 12:27
Can the contract b terminated in between if its non grativious bailment
latest answer
Yes
Shru Kanda
CA Inter
★ 610
5
434
Articleship
Others
answered on 20-May-22 21:58
I have excess leaves of 30days I have submitted form 108 yesterday, when should I submit form 107 after approval by RO of form 108 or before approval
latest answer
https://youtu.be/0e1dpmyePt8 You can watch this
umentala sahithi
CA Final
★ 2K+
9
549
ITC
Indirect Taxation
answered on 18-May-22 15:03
Sir ....becse of my supplier i didn't take credit in March month i sold that goods in March month itself ... Now it is nov . supplier has included my invoice in nov month That time to time limit fir availment of credit is expired Should I pay anything to the govt ????
latest answer
Credit can be claimed only if it is reflecting in GSTR 2B. Was the credit reflecting in March ? If yes then no concern.
Nivetharaman Raman
CA Foundation
★ 11K+
1
414