Forums
Eligible business criteria wrt Turnover in PY?
Direct Taxation
answered on 04-Nov-25 21:06
Sir, here Mr Sivam's business doesn't meet the eligibility threshold of Rs 200lacs of turnover in the PY, then how can we we advise him to opt for 44AD and compute income under presumptive basis? [Video Time Stamp: 11:00]
latest answer
Understood Sir. I misinterpreted the provision.
Rahul Anand
CA Inter
★ 6K+
2
71
Number of working days as 360
Direct Taxation
answered on 04-Nov-25 21:03
Sir, aren't we supposed to take number of working days as 360 days instead of 365? [Video Time Stamp: 08:25]
latest answer
ok Sir
Rahul Anand
CA Inter
★ 6K+
2
75
FV changes due to Creditworthiness
Financial Reporting
answered on 03-Nov-25 15:34
Sir, if the lending rate is more than the market rate, it gives loss (PV becomes higher than the transaction price) only right. Then what is the issue in showing it in P&L but we are accounting it under OCI. If it gives gain, then companies may misuse the loss of Creditworthiness and show it as profit. What is the problem with showing under P&L when there is a loss sir?
latest answer
We discount with the rate applicable to an entity. the case being covered is where the applicable interest rate increases due to deterioration of creditworthiness. Such gain are recognised in OCI. To maintain consistency, the loss are also recognised in OCI.
pooja lakshmi
CA Final
★ 2K+
1
77
Exemption on Agri
Indirect Taxation
answered on 04-Nov-25 18:16
Sir, Point 3 (service by way of fumigation in warehouse of agri produce) and Point 4 (h) are same and you mentioned that point 4(h) is removed. Whether point 3 also removed and service by way of fumigation in warehouse of agri produce is taxable or exempt? [Video Time Stamp: 14:43]
latest answer
Service by way of fumigation in warehouse is taxable.
Nivethithaa S
CA Final
★ 2K+
1
94
December 2021-Leases
Financial Reporting
answered on 03-Nov-25 15:35
Sir, in this question I have some assumption issues. First, the line of annual payments, i was confused when I read renewal terms Rs 350000, i thought that this was one time payment Second, the fifth point, where they say that economic life increases by 5 years, now plain reading made me believe that original terms were for 6 years so new terms is 11 years, but they only added 2 more years. Please help me in it's interpretation and how to tackle such situations in exam
latest answer
The option to extend is only 2 years. So we will consider two years only.
Hrishikesh Pradhan
CA Final
★ 18K+
1
68
Means sir less rhen 75%tgen dir it taxable right sir
Indirect Taxation
answered on 04-Nov-25 18:17
Last point video last 1 min sir [Video Time Stamp: 08:53]
latest answer
Yes.
Renu Gupta
CA Inter
★ 550
1
73
Logic Bargaining Vs Real Bargaining
Strategic Management
answered on 31-Oct-25 18:25
Reality is Bargaining cannot be done at big stores, whereas in small stores, bargaining is at peak level. But logically, On mercy basis, bargaining should be done in front of wealthy person instead of poor vendor. [Video Time Stamp: 04:40]
latest answer
Agreed!
Vinod Kumar
CA Inter
★ 11K+
1
84
Asset
Accountancy
answered on 30-Oct-25 22:46
Is cash is a fixed asset or current asset [Video Time Stamp: 06:07]
latest answer
Current asset
Sai Kasani
CA Foundation
★ 0
1
108
Doubt in Illustration-14 of institute study material
Financial Reporting
answered on 31-Oct-25 17:34
Sir, I think illustrations-14 in institute study material did not cover in class. Also illus- 16,17 not covered but its manageable. I didn't understand illus-14. Kindly explain the same.
latest answer
https://www.youtube.com/live/bxgrFD7Pgtc?si=wvrbHBNVZ0qWjO6m&t=1197 Pls go through the explanation given here once.
Gomathi Gomathi
CA Final
★ 7K+
1
88
government grants
Accountancy
answered on 26-Nov-25 18:19
the question provides "How the refund of the grant is dealt with in the books of Mac Ltd. assuming that the company did not charge any depreciation for the year 2019-20", in this case there's no need to provide depreciation for 2 months right? when the question explicitly provides to assume no depreciation charged, assuming depreciation charged for 2 months will be wrong right?
latest answer
Yes.
Ritu Kotian
CA Inter
★ 15K+
8
128