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Illustration 53 - Requirement of Financing component?
Financial Reporting
answered on 06-Nov-25 11:07
In the Illustration 53, as the payments are received on monthly basis but the license is used for 2 years i.e., more than one FY. Is there any requirement to identify the significant financing component in the transaction?? [Video Time Stamp: 06:30]
latest answer
if the timing of payments provides either the customer or the entity with a significant benefit of financing - basically if it has significant financing component, then we should compute PV. In most cases the subscriptions would be cancellable on a month to month basis. Hence discounting is not done.
Immanuel Babu
CA Final
★ 5
1
77
Exemption
Exams
answered on 06-Nov-25 11:35
I got 70 marks in costing....now should I get 40 each in the remaining 2 subjects or should I get 40 each in the remaining subjects and also get aggregate of 100(50%) in the remaining 2 subjects
latest answer
Thank you sir
Shaviri Reddy
CA Inter
★ 1K+
3
111
Disclosure
Accountancy
answered on 06-Nov-25 11:16
There is a doubt if we don't show the income or expenditure below 1 lakh or 1% of the revenue whichever is higher. Then doesn't that affect our profit & loss a/c if we don't show the immaterial things then should we not consider the immaterial things as expenses or income.
latest answer
We will show all income and expenses. They will be clubbed as other expenses and separate disclosure is not required.
Snehashis Mohanty
CA Inter
★ 35
1
110
MAT
Direct Taxation
answered on 04-Nov-25 18:01
Will mat be applicable on company having losess if yes then why?
latest answer
Please refer Section 115JB.
Snehashis Mohanty
CA Inter
★ 35
1
92
RCM
Indirect Taxation
answered on 04-Nov-25 18:14
Can anyone define RCM and why it is applicable with a Simple example
latest answer
In some case the responsibility for payment of tax in cast on the recipient. In case of insurance agent providing service to insurance company it is difficult to catch every agent, so they have shifted the responsibility on the insurance company.
Snehashis Mohanty
CA Inter
★ 35
1
72
Exemption
Exams
answered on 03-Nov-25 19:39
Hello I got exemption in ca inter cost in sept 25 and if i write both group in jan 26 and clear grp 2 but got exemption in grp 1 any one paper say advanced accounts so for may 26 will cost and advanced accounts both will be considered as exemption. Thank you
latest answer
Thank you sir
Vani Suresh
CA Inter
★ 20
2
95
Sec 184 who can be an agent
Corporate & Other Laws
answered on 03-Nov-25 21:51
If I enter into contract of agency with a person who is unsound mind The person drinks liquor full day but he becomes sound mind after 7pm of same day Contract of agency is done before 7pm is valid or not? [Video Time Stamp: 04:24]
latest answer
The contract of agency is void, because it was made with a person of unsound mind at that time
Gurukanta Singh
CA Foundation
★ 19K+
1
83
RTI Certified answer copy
Exams
answered on 03-Nov-25 22:34
I'm unable to submit request for answer copies through RTI for the attached error. Is anyone facing the same issue? Kindly assist on how to resolve this error.
latest answer
same happened to me too but keep on trying and then it works .
Shankari C
CA Inter
★ 3K+
1
105
Exemption
Exams
answered on 03-Nov-25 17:20
My friend has an exemption in AFM valid till the sept 2025 exams .Now in the sept 2025 results she got FR 67,AFM 68E(old marks) and audit 29.The result is UNSUCCESFUL.Now AFM exemption will be gone as the result is unsuccessful but can she claim fresh exemption in FR as she got 67 in it ?Now in Jan attempt should she write all the three papers or only two(AFM and Audit)? Please clarify my doubt sir.
latest answer
Thank you very much for the clarification sir.
Eswar K
CA Final
★ 125
4
122
Maximum marginal rate
Direct Taxation
answered on 04-Nov-25 18:10
Sir how 37%of surcharge Will be 11.1? [Video Time Stamp: 00:00]
latest answer
Can you elaborate your query ?
veerendra basava
CA Inter
★ 880
1
83