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Insurance claim
Accountancy
answered on 02-Jul-21 13:43
Gross profit on Sale generated from additional expenditure It means the sales occurred after date of fire?
latest answer
My pleasure . All the best ð???
Triveni Patil
CA Inter
★ 290
4
523
Contract of indemnity
Corporate & Other Laws
answered on 03-Oct-21 23:45
In the example for contract of indemnity given in study material, it is stated that if a tree on neighbouring property of Y blows over his fence and damages it, X will be liable for cost of fixing it. In view of the analysis of definition of contract of indemnity ( that loss occasioned by an accident conducted by a person or by an act of God/natural event is not covered under a contract of indemnity) , is the above example justifiable?
latest answer
This is just an example of the types of indemnity contracts that can be executed if the parties agree. The example says "X MAY AGREE to indemnify Y for any loss caused if tree blows over". Words used here are "May agree". Only if X agrees to such a contract beforehand, he shall be liable for such a loss caused. However, otherwise, it shall not be binding.
Rinuja TK
CA Inter
★ 10K+
2
837
Ineligibility of auditor 140(5)
Corporate & Other Laws
answered on 02-Jul-21 08:34
In case of a firm involved in fraud, will the partners be ineligible to be appointed as auditor in their individual capacity as well or the ineligibility is only of the firm?
latest answer
Partners involved will also become ineligible
Aman Mahajan
CA Final
★ 19K+
1
576
Rotation of auditor
Corporate & Other Laws
answered on 02-Jul-21 13:13
Point 4. What is this condition and what is the reason for it?
latest answer
Refer video 32 of Audit & Auditors chapter for explanation. Reason of this condition is to maintain independence & for division of work
Aman Mahajan
CA Final
★ 19K+
1
966
Term of auditor
Corporate & Other Laws
answered on 02-Jul-21 07:49
Point 3. Is the limit on total amount or individually on banks, financial institutions and public deposits?
latest answer
On aggregate amount
Aman Mahajan
CA Final
★ 19K+
1
550
Doubt
Accountancy
answered on 03-Jul-21 12:08
Sir can u please explain how to solve below problem I am getting answer as 24:64:51 But correct answer is 24:40:51 Below is my solution please suggest me sir
latest answer
Mostly, the method will be mentioned in the question. If not, the question contains certain clues based on which you can conclude which method it is.
sai t
CA Foundation
★ 2K+
5
553
Board material
Accountancy
answered on 02-Jul-21 06:41
Sir accounts March 2019 board material can i follow
latest answer
Pls follow latest material on icai website
OMKAR REDDY
CA Inter
★ 6K+
1
491
Basic doubt
Indirect Taxation
answered on 02-Jul-21 13:46
Special additional duty is introduced to counter balance sales tax Please explain this statement....
latest answer
A 4% Special Additional Duty (SAD) under section 3(5) of the Customs Tariff Act, 1975 was first imposed in the Union Budget 2005-2006 to counter balance various internal taxes like Sales Tax and Value Added Tax (VAT) and to provide a level playing field to indigenous goods which have to bear these taxes. This was extended in general to all goods in the Budget 2006-2007. Manufacturers will be able to take credit of this additional duty for payment of excise duty on their finished products. In the case of most of the items, this duty has been subsumed in IGST after the introduction of GST w.e.f. 01-07-2017.
Girinath A
CA Inter
★ 765
1
529
Incomplete records
Accountancy
answered on 01-Jul-21 20:14
How come values of building and furniture
latest answer
It's ok ji my pleasure
Triveni Patil
CA Inter
★ 290
5
834
About SAs
Auditing
answered on 01-Jul-21 19:40
What are all the SAs that are to be read parallely with the chapters in audit. I mean for eg, to study company audit chapter we must do this SAs previously, like that
latest answer
It is clearly explained in our introduction video
Sneha Raj
CA Inter
★ 2K+
1
511