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IND AS 10
Financial Reporting
answered on 02-Jun-25 13:03
Sir kindly explain why only disclosure is necessary
latest answer
We have updated this.
R Yashwanth Kumar
CA Final
★ 87K+
4
128
IND AS 10
Financial Reporting
answered on 28-May-25 16:18
Sir in case of a tax dispute conditions would have been existed at the balance sheet date right, how it is an non adjusting event?
latest answer
In this case conditions existing on balance sheet is not clear.
R Yashwanth Kumar
CA Final
★ 87K+
2
177
IND AS 10
Financial Reporting
answered on 27-May-25 18:19
Sir in this question we shd adjust the financial statements right as conditions existed on the balance sheet date,
latest answer
Query resolved as it is a contingent asset no adjustment to financial statements is required only discloser is necessary
R Yashwanth Kumar
CA Final
★ 87K+
1
121
Ilustration.
Direct Taxation
answered on 04-Dec-25 18:59
I feel, the municipal tax deduction should be Rs 8000 for Mr B.
latest answer
It is 8K for entire building and 4K per unit.
Kiran Biradar
CA Inter
★ 6K+
3
164
56th mcq
Indirect Taxation
answered on 27-May-25 15:31
Sir in the previous videos you have been told that both the debit and the credit note are issued by the supplier only but here in the 56th mcq Y Ltd ( recipient) is issuing a debit note sir why is it??
latest answer
Thank you sir
Mutchukota Akhila
CA Inter
★ 4K+
2
209
Spom set a
Others
answered on 27-May-25 11:50
How answer option D of 6 crore is calculated
latest answer
Tax should not be deducted For investment companies, premium is considered. So 100+20 = 120 120x 5% =6
Pooja .
CA Final
★ 210
1
150
Business mathematics chapter 1
Maths & Stats
answered on 27-May-25 16:19
How to solve question 50,51 and 52
latest answer
yes. In CA foundation , the goal is to answer quickly. You have 120 minutes for 100 questions ie 72 seconds per question so whichever is faster method go for it
Gurukanta Singh
CA Foundation
★ 19K+
5
217
Foreign company
Corporate & Other Laws
answered on 14-Nov-25 18:17
Point i It's saying the format of pl bs will be calendar year following ? Along with sch 3 ?
latest answer
1. Applicability of Financial Year for a Foreign Company Under Section 381 of the Companies Act, 2013, a foreign company operating in India must prepare its financial statements in respect of its Indian business operations for each calendar year, or such other period as approved by the Central Government. So yes — by default, the reporting period is the calendar year (January to December) unless special approval is obtained to align it differently. 2. Format of Financial Statements As per Rule 4 of the Companies (Registration of Foreign Companies) Rules, 2014, a foreign company must: - Prepare Balance Sheet and Profit & Loss Account in accordance with Schedule III (Division I format), or - Use the format of its home country if that format gives a true and fair view, provided a reconciliation statement with Schedule III is attached. So in short: Calendar Year = Default reporting period Schedule III Format = Applicable (either directly or via reconciliation) 3. Filing Requirement The foreign company must file: - Form FC-3 (financial statements) - Form FC-4 (annual return) within the prescribed time limit with the Registrar of Companies (ROC). To get help, consult with professionals like Setindiabiz or any other trusted name!
Sushmita Chowdhury
CA Inter
★ 2K+
8
180
Interest on Delaying the Receivables
AFM
answered on 26-May-25 15:08
Interest on delaying the receivables would be 450000 × 48.90 × 1%? (If nothing was mentioned in the question)
latest answer
No interest will be received on delaying receivables. Just because an exporter owes you money and you ask for delayed remittance of money, the exporter will not pay you interest for the 1 month delay Also int rates given are INR rates and not USD rate
Ruthvik Reddy Adala
CA Final
★ 5K+
1
142
Layer of subsidiary
Corporate & Other Laws
answered on 27-May-25 15:26
Layer of subsidiary = 2 max is allowed ? Unless wholly owned subsidiary me ? But wholly owned subsidiary can have max 2 layer of subsidiary ?
latest answer
yes
Sushmita Chowdhury
CA Inter
★ 2K+
1
163