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Depreciation
Direct Taxation
answered on 24-Sep-21 12:36
A and B are owners of asset having equal share . B is not using that asset and A is only using that. Can A claim full depreciation or only 50%?
latest answer
A can claim full depreciation but cannot take depreciation because of he is not using the asset even though he is also owner
bsai partish
CA Final
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582
House property
Direct Taxation
answered on 24-Sep-21 17:23
How to solve this?
latest answer
Thank you
Siri S
CS Executive
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541
Deduction
Direct Taxation
answered on 24-Sep-21 11:41
What amount of deduction provided for lic premium paid on own life ?
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Siri S
CS Executive
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610
Tax
Direct Taxation
answered on 24-Sep-21 11:08
Clothes worth 5000 donated to orphanage how to treat it under 80G of IT act ?
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Siri S
CS Executive
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608
BCk
Others
answered on 24-Sep-21 11:09
What is arbitrage With layman example also pls
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Thanks mam ð???
Balachandar S
CA Inter
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Salaries Doubt
Direct Taxation
answered on 25-Sep-21 07:36
Mr. P is Pilot with Jet Airways. He is entitled to outstation allowance of Rs. 10,000 p.m. He spends Rs 4,000 every month. The exemption shall be Rs. 1,20,000 Rs. 48,000. Rs. 84,000 Rs. 72,000 Pls tell Which one is correct and please state the provison.
latest answer
This comes under Any allowance granted to an employee working in any transport system to meet his personal expenditure during his duty performed in the course of running of such transport from one place to another place, provided that such employee is not in receipt of daily allowance. The exemption is 70 per cent of such allowance up to a maximum of Rs. 10,000 per month
Balaji R
CA Final
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724
Associate company
Corporate & Other Laws
answered on 24-Sep-21 16:53
"Ministry of Corporate Affairs has clarified that the shares held by a company in another company in 'fiduciary capacity shall not de counted for the purpose of determining the relationship of 'associale company under section 2(6) of the Companne" Explain the meaning of this paragraph
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If an Asset Management Company (AMC) holds 20% of shares of say - SBI for its investors - SBI will not be an Associate of the Asset Management Company (AMC)
Rakesh Shah
CA Final
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513
Buy back of shares
Accountancy
answered on 24-Sep-21 09:54
Video no 5 in lectures Sir said for source of buy back shares One of the option is using existing free resource. While using existing free resources creditors get upset because of equity shareholders capital (wall behind creditors )gets reduce. So sir said we make sure to SH gets upset and creditors gets happy by way of creating CRR which can only be used for the purpose of bonus issues and it prevent the free resources to pay in the form of dividend Now my questions is,by making CRR how the creditors gets back his support back (happiness) again which is only used for bonus issue. In short how making free resouces as capital redemption reserve gives support to creditors? Pls explain this iam geting confused about CRR
latest answer
A buy-back is a scheme by which a company repurchases a certain number of its outstanding shares usually at a price higher than the prevailing market price/ fair value of the shares. There are two sources for buy back - (1) fresh issue of shares or (ii) from existing resources (proceeds other than fresh issue) i.e free reserves The company, under section 69 of the Companies Act, is also obligated to create CRR to the extent of face value of shares bought back by utilising existing reserves (free reserves like Gen Reserve, P&L balance and securities premium) When you create CRR out of the free reserves, so much of the money will not be available for shareholders for declaration of dividend or further buy back, so by creating CRR company is restricted by utilising the existing resources from further depletion, so they will be available for company in case of any requirements of outsiders during insolvency or winding up
Balaji R
CA Final
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1
504
ESOP
Accountancy
answered on 24-Sep-21 17:09
Sir in question no 3 As per the concept Why they didnt give entry for ESOS outstanding a/c on 31st march 20X1. Just They simply entry jounal as like single accounting year in the question.
latest answer
Yes. There is a printing mistake in the question.
Balaji R
CA Final
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602
section 2(53) definition of manager
Corporate & Other Laws
answered on 24-Sep-21 17:50
what is the meaning of contract services under section 2 (530 of definition of manager
latest answer
Yes. But presentation wise, you will have to understand the requirements of the question and write accordingly. Like, if question is say related to conversion of companies (Section 18), in place of a diagram, we have to write those bullet points.
nisam M
CA Final
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3
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