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Interest
Financial Management
answered on 04-May-25 06:37
Intrest should be 360000₹ only right because it's starts from August Then why we calculating as per 12months i.e, 540000
latest answer
For current year it is for 8 months After project is implemented in the next year it will be for full 12 months
anju B
CA Inter
★ 21K+
1
142
Sec 203
Corporate & Other Laws
answered on 07-May-25 20:54
Please Provide answer to the Question with an explanation
latest answer
The Companies Act, 2013 does not explicitly talk about part-time Key Managerial Personnel (KMP). The provisions says that A whole-time key managerial personnel shall not hold office in more than one company except in its subsidiary company, at the same time. Exceptions: Person may be appointed as MD if he is MD/Manager in one other company --> With unanimous consent of Directors present in Board Meeting.
Chan Dra
CA Final
★ 0
1
249
OCI
Accountancy
answered on 12-May-25 12:34
Please share Accounting entries for OCI for Actuarial gain loss on Gratuity with presentation in FS
latest answer
Dr. OCI Cr. Provision for Gratuity / DBO
Aadish Jain
Qualified CA
★ 0
1
166
Flexibility in the case of futures
AFM
answered on 03-May-25 18:48
Can you please elaborate on the contrasting flexibility in the case of stock futures and index futures?
latest answer
Flexibility
Ruthvik Reddy Adala
CA Final
★ 5K+
1
164
Dividend
Corporate & Other Laws
answered on 04-May-25 15:54
Point c explain pls wrt IEPF..
latest answer
If someone in a company does something wrong and people like investors or depositors lose money, the court can order that money (called disgorged amount) be taken from the wrongdoer (Company/directors/etc). This money is then fairly distributed among those who suffered the losses (ie, debenturesholders, shareholders).
Sushmita Chowdhury
CA Inter
★ 2K+
2
168
Total EBIT
Financial Management
answered on 03-May-25 12:51
Total EBIT= 14.4%×200L(i.e, old EBIT already exists)+17.4 %× 30L -------------> I calculated But in question total EBIT = 17.4% ×230 L (not byforgetting @1st 14.4% and for additional requirement 17.4%) Can you please explain it sir
latest answer
When they say ROCE increases by 3% it means for whole co & not for just new investment
anju B
CA Inter
★ 21K+
1
182
dividend on short futures
AFM
answered on 03-May-25 12:37
if dividend is paid by the stock/index during the time we have short sold futures, it is inflow or outflow to us for finding net gain/loss. please explain.
latest answer
Dividend
Ali S
CA Final
★ 8K+
1
143
Is it fill in the blank or assumption that no debt,no equity to B ,A
Financial Management
answered on 03-May-25 04:44
Are they are fill in the blanks that which we compute Or In B ltd there is no debt In A ltd there is no equity? But in this problem Fill in the blank is given only for Altd computation of equity But not for Bltd which is assumed to be unlevered co.
latest answer
There can be no company without equity On the unknown numbers / blanks , this is an older question Questions have been more clearer in recent exams worry not
anju B
CA Inter
★ 21K+
1
158
VL= S+ D
Financial Management
answered on 03-May-25 12:47
@4 VU=VL=100L But in this formula VL = S +D = Only debt 54L Answers not tally ?
latest answer
It is tallying Eq 46 & debt 54
anju B
CA Inter
★ 21K+
1
147
Company Incorporation
Corporate & Other Laws
answered on 12-Aug-25 16:20
I have converted a partnership firm to a Private Limited Company by filing the URC 1 Form. The capital of the firm was 16 crores and the capital of the Company is 10 crores. Balance have been shown as long term loan from Directors. The partners of the firm are the only directors of the Company. Now should the directors bring in capital of 10 crores into the bank account of the Company?. Since it is going concern. Also, since i have filed the URC form which evidences the conversion. Should I bring in capital. Also, should I file INC 20A - commencement of business. Please help
latest answer
Yes, the subscribed capital (₹10 crores) must be actually brought in to the company’s bank account by the shareholders (in your case, the former partners who are now directors and subscribers). This is essential due to the following reasons: Under Section 10A of the Companies Act, the company cannot commence business or borrow funds unless the subscribed capital is deposited in the bank account and Form INC-20A is filed. Even if the business is a going concern, the new company is a distinct legal entity, and the capital must be reflected in its books. Conclusion: ₹10 crore (or the amount each subscriber agreed to subscribe in the MoA) must be deposited into the company’s bank account. 2. Treatment of Remaining ₹6 Crore (Balance from Firm’s Capital) You're showing the remaining ₹6 crores as a long-term loan from directors. That’s acceptable and practically common in conversions where capital structuring is revised. However, it’s important to ensure that; The loan agreement is properly documented. If it's interest-bearing, disclose accordingly in financials. The terms are arm’s length, to avoid future scrutiny under tax or company law. 3. Form INC-20A – Is It Required? Yes, filing Form INC-20A is mandatory. Even though the company is formed through conversion under URC, once the Certificate of Incorporation is issued: It is treated as a new company, and As per Section 10A, every company having share capital must file INC-20A within 180 days of incorporation, confirming: Capital has been received A bank account has been opened The business is ready to commence Attachments to INC-20A typically include: Copy of bank statement showing credit of subscribed capital Certificate of incorporation Board resolution (it is optional but recommended) 4. Summary of Your Case Capital of ₹10 crores subscribed- must be deposited into the company bank account. Balance ₹6 crores (old firm capital)- Can be treated as loan from directors, properly documented. Form INC-20A- Yes, mandatory within 180 days. Going concern status- Doesn’t waive compliance with capital infusion. Final Advice Even though this is a conversion and a going concern, the private limited company is a new legal entity. It must comply independently with all provisions applicable to a new company, including capital deposit and filing of Form INC-20A. However, seeking professional help from experts such as Setindiabiz or any other name, is always advisable to tackle confusion and get the conversion done smoothly!
Azmi RZmi
CA Final
★ 10K+
6
220