Forums
CSR
Corporate & Other Laws
answered on 02-Sep-21 17:23
As per Sect 135 net profit exits 5 crore company should spend 2% of profit last three proceeding year average profit What if last year loss accured ??
latest answer
Thanks
INDRAJITH S
CA Inter
★ 5K+
7
679
Pre accquisition profit
Accountancy
answered on 03-Sep-21 09:58
What is pre accquisition profit?
latest answer
Any profit earned before acquisition of a company , is called pre acquisition profit , subsidiary have earned in previous years before holding company acquires
Rubika Sankar
CMA Inter
★ 370
2
627
GST REGISTRATION FOR JOINT VENTURE
Indirect Taxation
answered on 02-Sep-21 21:53
Please kindly clarify the following query regarding GST Registration sir : A and B are construction based firms. They both entered JOINT VENTURE agreement and applied for GST Registration. A & B are already GST registered firms, no they applied for separate GST registration for Joint Venture in the same principal place of business. Please kindly clarify, whether GST Registration can be granted to Joint venture, as A & B are already GST registered firms and registration applied for the same principal place of business ? Thanking you sir
latest answer
For the Joint venture they create a new entity and that new entity can obtain separate registration.
Hemanth Prasad
CA Inter
★ 10
2
2K+
Doubt
Auditing
answered on 03-Sep-21 11:12
Can u pls explain the points b & c in this topic ( topic: fradulent financial reporting)
latest answer
Ok sir understood thank you
Sri kanaga Varshini
CA Final
★ 3K+
6
537
As1
Accountancy
answered on 02-Sep-21 11:52
Is going concern assumption valid in the year 2016-17 ?
latest answer
Here, the going concern assumption is not in doubt for the FY 2016-17 since the assumptions validity is for foreseeable future which is period not exceeding 1yr from the balance sheet date as here the contract is said to expire on 31-03-2018 , therefore for FY 2016-17 going concern assumption is valid.
Chandan Subudhi
CA Final
★ 12K+
2
506
Registration and dissolution of a firm
Corporate & Other Laws
answered on 28-Aug-25 19:09
Can anyone explain the below point
latest answer
You're referring to Section 41 of the Indian Partnership Act, 1932, which deals with Compulsory Dissolution of a partnership firm under Corporate & Other Laws. Here’s a breakdown of what’s written in your image: Compulsory Dissolution (Section 41) A firm must be dissolved (i.e. compulsory dissolution) in the following cases: 1. If all the partners or all except one become insolvent Insolvent means legally declared unable to pay debts (i.e. bankrupt). If all partners are adjudicated insolvent, or - If all except one partner are adjudicated insolvent → Then the firm must be dissolved, because it cannot legally operate anymore. 2. If the business becomes unlawful “Unlawful” means illegal by law. If any event happens that makes the business of the firm illegal, then the firm must be dissolved. Example: A firm doing a legal business like selling a particular chemical. Later, the government bans that chemical. Now the business becomes illegal, compulsory dissolution applies. Exception (Last Paragraph): If the firm carries on more than one business, and only one of them becomes unlawful, → That alone will not dissolve the entire firm. → The lawful part can continue. Example: A firm runs both a liquor shop and a garment shop. If the government bans liquor in that state, the liquor business becomes illegal. But the garment shop (legal business) can still continue. Summary: Compulsory dissolution happens: If all (or all but one) partners are declared insolvent. If the business becomes illegal. But if only part of the business becomes illegal, the rest can continue. To learn more about the dissolution of partnership firms, it is always advisable to consult a leading business compliance consultant like Setindiabiz, etc!
Soumya A
CA Inter
★ 20K+
3
576
Equations
Maths & Stats
answered on 02-Sep-21 10:44
How is y=5 when +1 is still present?
latest answer
When 5/Y= 1, we cross multiply Y with 1 then it becomes Y=5.
Chris Topher
CA Foundation
★ 5
2
622
Equations
Maths & Stats
answered on 02-Sep-21 10:48
X+5/y, how is it expanded to x/y +5/y?
latest answer
Because X and 5 have the common denominator, so if you want to expand you can write as x/y and 5/y or (x+5)/y.
Chris Topher
CA Foundation
★ 5
3
511
Preparation of financial statement
Accountancy
answered on 02-Sep-21 01:28
Sir ,why is the depreciation stated in trial balance not adjusted in provision for depreciation while preparing financial statement,in the following question ?
latest answer
Sorry,got the answer.
Abhishek Purohit
CA Inter
★ 10K+
1
553
T
Direct Taxation
answered on 01-Sep-21 21:23
The tax payable by Dharma LLP on total income of ` 1,01,00,000 for P.Y. 2020-21, is
latest answer
32,24,000
dis likend
CA Inter
★ 2K+
1
2K+