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Capital redemption reserve
Corporate & Other Laws
answered on 22-Oct-21 12:02
If it says that we use capital redemption reserve ac for redemption of preference shares,then y do we use it for issuing bonus shares,I am confused here ,what is it actually used for
latest answer
When we redeem preference shares, it's basically reduction of capital. We are paying shareholders before creditors get paid. So, for protecting interests of outsiders, law says if we are redeeming preference shares without any new issue of equity shares i.e. we are redeeming preference shares out of profits that we already earned during last year(s), we should transfer some profits to an account that can only be used for bonus issu. That is why we open CRR account. So that free reserves don't get distributed as dividend. We want to restrict their use.
Pramod Rajpurohit
CA Inter
★ 0
7
1K+
Doubt related to advanced accountancy
Accountancy
answered on 20-Oct-21 11:13
Whats the meaning of this sentence Vested options which lapsed ?
latest answer
Vested employee stock option lapses on expiry of the exercise period, after the Accounting value of the option has already been accounted for as employee compensation, this Accounting treatment shall be reversed by a credit to employee compensation expense. Please watch all videos of ESOP., you will understand better
Venkatesh .
CA Inter
★ 4K+
1
525
Practical question
Indirect Taxation
answered on 20-Oct-21 19:19
Sir in case we pay tax in wrong head(account) like in Igst rather in Cgst and Sgst.. they say to use gst pmt 09.. however somepeople amend the invoice and show in correct account..is this a right way to do sir?
latest answer
PMT 09 is only of transfer of balance from one head to another head if balance is in cash ledger. If its already then the only option is to amend it
vasabattula abhinav
CA Final
★ 85
3
627
Marginal relief
Direct Taxation
answered on 21-Oct-21 12:07
Can anyone explain treatment of 1375500 in below attachment
latest answer
Yes. You can.
Sairam Reddy
CA Final
★ 10K+
6
673
Sec 194 dividend taxability
Direct Taxation
answered on 20-Oct-21 07:32
Provisio 1 states that the aggregate dividend paid or payable to an resident individual in a year is less than 5000 rupees, there will be no deduction. 1. Is the aggregate amount is sum total of one company? 2. Is the aggregate amount is sum total of dividends from one or more companies? 3. If answer is 2, then how the other companies will come to know the dividend paid by them is <5000 when they do not know what is the dividend paid by other companies?
latest answer
Each company will check only their payout.
John Selvaraj
CA Inter
★ 140
1
591
Mcq
Strategic Management
answered on 20-Oct-21 06:24
Please explain this MCQ
latest answer
Ok sir, thank you
Priyanka Udeshi
CFA L1
★ 14K+
7
611
present value annuity factor calculation
Financial Management
answered on 26-Oct-21 11:10
sir my calculator seems to be not performing the formulae i.e, '=" and "+" n times pls suggest me what to do p.s : in the chapter' cost of capital'
latest answer
Record for the following 1 divided by 5 = press divided by symbol and then = and then =
Bhavya Kumar
CA Final
★ 7K+
8
857
Sale of goods act
Corporate & Other Laws
answered on 20-Oct-21 11:03
What is the meaning of highlights line I can't understand this language plz suggest the meaning of this highlights sentence in simple word
latest answer
The third person who entered into transaction of sale under estoppel should prove that he suffered damages due to such transaction and he had believed that the person selling was the owner
Sumita Shah
CA Inter
★ 2K+
2
534
Tax
Direct Taxation
answered on 20-Oct-21 11:06
Is medical and health insurance the same? Can i claim deduction for health insurance service u/s 80D
latest answer
No, they are not same. Deduction allowed u/s 80D A medical insurance premium paid for self, spouse, children or dependent parents in any mode other than cash. Expenditure incurred on the account of preventive health check-up Medical expenditure incurred on the health of senior citizen (aged 60 years or above) who is not covered under any health insurance scheme. The contribution made to the Central government health scheme or any scheme as notified by the government.
Christeena Ambel
CA Inter
★ 5K+
1
582
OPC
Corporate & Other Laws
answered on 19-Oct-21 21:16
whether sec 8 is also excluded?
latest answer
okay sir
GOKULA LAKSHMI
CA Final
★ 21K+
2
523