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Accountancy
answered on 16-May-22 16:44
Are we allowed to take two calculators inside examination hall?
latest answer
2 is the best option and also allowed Once faced the issue with calculator and could not find the spare one
Kiran Vijay
CA Final
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6
463
Financial statements
Accountancy
answered on 15-May-22 08:58
Hello Some one pls mention the limits and% of managerial commission.. That when a company having losses ...!!
latest answer
.
Divya K
CA Inter
★ 885
1
517
Branch
Accountancy
answered on 16-May-22 10:07
In foreign branches if we take asset on closing rate them depreciation on that on which rate (closing or average
latest answer
Non integral foreign operation
Gauri Shete
CA Final
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7
442
Pre and post
Accountancy
answered on 15-May-22 10:04
How did they calculate the interest amt
latest answer
50 lakhs x 12% for 1 year = 6 lakhs 1.17 crores x 12% for 3 months = 3.51 lakhs (You can directly take it as balancing figure) The question mentions that the purchase consideration was settled with interest. SO interest up to 1st April is pre incorporation.
Gauri Shete
CA Final
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3
453
Hall ticket
Others
answered on 24-May-22 19:56
1) 1st two pages of Hall ticket is enough? 2) as they mentioned, do we need to take photo identity also..??
latest answer
2.please take identity card as safety
Divya K
CA Inter
★ 885
3
448
Departmental accounts
Accountancy
answered on 15-May-22 06:37
It is given that it is on cost then why is stock reserve has been taken
latest answer
They said cost for the transfree department that means Transferor department sent goods at selling price So we need to find unrealised profit
Harsh Mittal
CA Final
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1
599
LLP Act 2008 - Resident in India
Corporate & Other Laws
answered on 16-May-22 07:54
Hello, Is there any chage/ammendment in number of days(182) a person should have stayed in India during immediately preceding one year for the purpose of designated partner of LLP(as per sec 7) like in OPC. Thankyou.
latest answer
Yes
Aswin Chandar
CA Final
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5
668
Loss of stock
Accountancy
answered on 15-May-22 10:11
How the Gross profit percentage is 1/3.
latest answer
Previous year gross profit is 20%. So if S.P = 100, GP = 20 Next year S.P inceased by 20. So revised SP is 120, Cost is 80 (assumed to be same) and GP = 40. So GP ratio is 33.33%
uma uma
CA Inter
★ 5K+
1
395
As. 1
Accountancy
answered on 14-May-22 23:24
What will be the answer if question contain not going concern and what it's treatment
latest answer
Yes it is not a policy....it is fundamental accounting assumption
Lakki Kamu
CA Final
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4
502
LLP - Financial year
Corporate & Other Laws
answered on 25-Aug-25 16:42
Hello, Kindly explain the financial year of a LLP incorporated after 30th of September. Will the Income tax departments guidance supercede LLP Act's provision to consider 31st March of year next following that year. PFA SM Pic. Thank you.
latest answer
As per the LLP Act, the financial year of a Limited Liability Partnership (LLP) is from 1st April to 31st March. However, if the LLP is incorporated after 30th September in a year, then the LLP has an option to either: 1. Close its financial year on 31st March of the same financial year, or 2. Extend the financial year to 31st March of the next year. For example, if an LLP is incorporated on 5th October 2024, it can either: - End its first financial year on 31st March 2025, or - Extend it and end the first financial year on 31st March 2026. This flexibility is given only under the LLP Act. However, as per the Income Tax Act, there is no such flexibility. The financial year for income tax purposes is always from 1st April to 31st March. So, even if an LLP is incorporated after 30th September, it must still close its books on 31st March of that year and file income tax returns accordingly. This means that for ROC compliance (as per LLP Act), the LLP can opt for an extended financial year. But for income tax filing, the LLP has to prepare its financials and file returns for the period up to 31st March, even if it is just for a few months. So, the Income Tax Act does not override the LLP Act. Both laws operate independently for their respective purposes. To get detailed info, you can reach out to any firm/company of CAs and CSs that provides Business Registration and also tax filing services (e.g. Setindiabiz).
Aswin Chandar
CA Final
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4
1K+