Forums
Returns
Indirect Taxation
answered on 30-Aug-21 12:35
Will QRMP affect the answer of this question If yes what should be the revised answer?
latest answer
It is 5 Crore.
Priyanka Udeshi
CFA L1
★ 14K+
4
526
Sec.6(1) -Residential Status.
Direct Taxation
answered on 28-Aug-21 17:29
If a person of Indian Origin / Indian Citizen -Comes to India on a visit -His total income below Rs.15 Lakhs excluding Foreign Income. So the 60 days were replaced to 182 days. Is it right? In the video, nothing was mentioned about the Total Income of Rs 15 Lakhs excluding Foreign Income?
latest answer
If income is less than or equal to 15 Lakhs, then 182 is replaced with 60 in second condition
Balamurali Unnithan M S
CA Inter
★ 3K+
1
531
India definition
Indirect Taxation
answered on 28-Aug-21 19:14
Please explain the detail and easy definition of india because in icai module I not able to understand some word in India definition
latest answer
Sub soil means the soil lying immediately under the surface soil. Whereas Seabed means the bottom of the OCean.
Aryan Jhajharia
CA Final
★ 7K+
3
608
Sec 21 or 22
Corporate & Other Laws
answered on 28-Aug-21 13:41
The reference in the answer should be of section 21 as 22 only deals with negotiable intuments?
latest answer
Section 22, in addition to Negotiable Instruments also cover Other deeds like Trust deed, Partnership deed, Sale deed etc.
Aman Mahajan
CA Final
★ 19K+
1
492
Is input tax given by govt. Is a process of not to happen double taxation or gives benefit to b2b
Indirect Taxation
answered on 28-Aug-21 13:21
When I make a purchase.. I will get that input tax..my doubt is the input tax that I paid will be an asset for offsetting future output..The input tax paid is revenue to the government..and I will take input and offset the liability..Is input really benefiting me.. or it's just an process not to happen double taxation..so if someone says I am having input of purchase should we happy or not as we paid tax and they give input tax not to happen double taxation am I correct can anyone let me know??
latest answer
The scheme of ITC is designed to avoid cascading effect of taxes. Businesses are benefited in GST regime as they are able to get credit on all their input purchases or services. This effect reduces the final value of goods
vasabattula abhinav
CA Final
★ 85
1
530
residential status
Direct Taxation
answered on 28-Aug-21 12:31
as he is a person of indian origin with total income[excluding income from foreign sources]exceeding 15 lakhs with 168 days stay in india ,he should be an resident but not ordinarily resident,but in video lectures shown as non resident.......
latest answer
Section 6(1A) - Notwithstanding anything contained in clause (1), an individual, being a citizen of India, having total income, other than the income from foreign sources, exceeding fifteen lakh rupees during the previous year shall be deemed to be resident in India in that previous year, if he is not liable to tax in any other country or territory by reason of his domicile or residence or any other criteria of similar nature. The above section is applicable to Indian Citizen only. Not for person of Indian Origin. So, he becomes Non Resident
Vamsi Krishna
CA Inter
★ 121K+
1
641
General reserve
Accountancy
answered on 19-Mar-22 10:57
Is general reserve percentage has not given at what percentage it has to be taken?
latest answer
Ok then i will share u a pic later
Rubika Sankar
CMA Inter
★ 370
4
612
Weightage of vote
Indirect Taxation
answered on 28-Aug-21 12:15
Can anyone please give example ..How the voting is calulated
latest answer
Every gst council have 6 members 2 for central government 4 for state government So central have one third of power and state have two third of power In any resolution both jointly accept then ONLY it should enabled because every resolution need three -forth of voting power In this council minimum voting need for any resolution 5 members to vote So state and central government both agree then only any resolution pass
Gauri Shete
CA Final
★ 5K+
1
679
Law
Corporate & Other Laws
answered on 28-Aug-21 10:34
Can anyone tell me the meaning of "subject to", "notwithstanding" because I feel these have a different meaning whan compared with actual english meanings
latest answer
Meanings are similar to ones in English Subject to - conditional upon, Notwithstanding - Inspite of You can watch this video of ours from 11.08 min for meaning of these words - it's covered in detail at Inter level https://youtu.be/aAHZRDweXYA?t=668
Soumya A
CA Inter
★ 20K+
2
534
Correlation
Maths & Stats
answered on 28-Aug-21 11:27
A relationship r square = 1 - 500/300 is not possible. Is it true or false?
latest answer
Ohk thanks
Sejal Shivani
CA Foundation
★ 5K+
3
603