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PGBP
Direct Taxation
answered on 21-Jul-20 16:32
Section 32(1)(i) in lecture video is for power genration but in book applicable for nov 20 it is in section 32(3)(i)..plz provide a updated lecture becouse section are messed up and kindly extend the lecture date for a week if possible
latest answer
There is no section called 32(3)(i) in Income Tax Act. Pls share the source where you found this section.
Abhilasha singh
CA Inter
★ 5K+
1
883
Appointment of auditor
Auditing
answered on 21-Jul-20 23:44
In Company Audit. video no 13. appointment in case of Govt company case study..... There is a case study in this video at the end after solution, " Conclusion Alternate" part is there....along with our answer do we need to write the said part also....?
latest answer
Yes
Ramya Devi
CA Inter
★ 580
2
612
AS-26(goodwill) application in amalgamation, conversion and sale of partnership firms.
Accountancy
answered on 23-Jul-20 11:24
As per AS-26,only purchased goodwill can be shown in books, but in problems related to conversion/sale of partnership firms to company in study material they are providing purchase consideration for goodwill also.
latest answer
AS-26 does not apply to goodwill arising on an amalgamation and goodwill arising on consolidation
Deagle -oM
CA Final
★ 0
4
744
Provision for substandard assets
Auditing
answered on 21-Jul-20 12:51
Sir, In the lecture it is told that if the substandard asset is unsecured and it is taken for infrastructure development and also supported by escrow, the provision need to be made is 20%. Here I remember that i have read(in adv. accounts) the unsecured loan taken for infrastructure development needs a provision of 20%, and there is no concept of escrow. So, i want to make clear that, the provision for unsecured loan taken for infrastructure development but not supported with escrow. Is 20% or 25%. In other words whether the escrow should be compulsory for the infrastructure loan to have the provision of 20%.
latest answer
Sub-standard assets (i) if secured exposures/assets (security value > 10% of advance) - 15% (ii) Unsecured exposure (a) Infrastructure project backed with escrow account - 20% (b) others - 25% To come under 20% provision the infrastructure projects have to fulfill the condition of escrow as given in RBI notification DBOD.No.BP.BC.96/08.12.014/2009-10 dated April 23, 2010, which states "To avail of this benefit of lower provisioning, the banks should have in place an appropriate mechanism to escrow the cash flows and also have a clear and legal first claim on these cash flows. " So if there is no escrow then it will need 25% provisioning
Sakthi Praveen
CA Inter
★ 2K+
1
942
Esop
Accountancy
answered on 21-Jul-20 11:38
I no solve this problem.plse solve this problem
latest answer
Please solve the problem and ask for any specific doubt you have
bhuvaneswari sundaram
CA Inter
★ 330
1
678
Income from Salaries- Interest Concession
Direct Taxation
answered on 21-Jul-20 17:31
Herein attaching two pictures- One with the answer and question from the Padhuka Question Bank and the other being my solution. As per Padhuka, there may be two solutions- One that gives answer of 21615 and the other giving answer of 20880. (Since there is % computation, I believe slight variance js possible) But I was informed only the method giving answer as 20880 is correct. Could you please check if both methods are correct?
latest answer
Thank you ma'am
Suraj Narayanan
Qualified CA
★ 7K+
2
748
Sec 79 set off
Direct Taxation
answered on 21-Jul-20 11:06
Sir sec 79 is applicable fr inter. Sett off chp
latest answer
Not applicable for inter level.
Nivetharaman Raman
CA Foundation
★ 11K+
1
673
Query
Accountancy
answered on 21-Jul-20 07:39
Sir is it okay to start Advance Accounting before completing Accounting Standards?
latest answer
Yes it is ok. But do read AS 14 & 21 before you start solving problems on Amalgamation & consolidation
Prateek Khandelwal
CA Inter
★ 0
1
702
Answer is wrong
Maths & Stats
answered on 14-Aug-20 23:27
Sir, In Business Mathematics Chapter 7 unit 7 Ilustrations For 3 sum sir done solution wrong instead 6 he said -6 so try to correct in video clip sir Sir don't think wrong about me for saying this to u I hope u will correct. Thanking you.
latest answer
K
THARUN KUMAR EKAMBARAM
CA Foundation
★ 18K+
7
696
Rectification
Accountancy
answered on 20-Jul-20 19:42
What is capitalization of asset mean
latest answer
Capitalisation of assets means to record expenses incurred for assets in the balance sheet as an asset and not charge it as an expenses in profit and loss account. Generally expenses which are incurred at a time of installation of asset or upto the assets are first ready to use are capitalised.
Prasanth Kumar
CA Inter
★ 13K+
1
773