Forums
Transfer pricing
Accountancy
answered on 21-Oct-25 14:25
Due date for tax audit report has been extended to oct 2025. What will be the due date for tax audit report where transfer pricing is applicable.
latest answer
it is not expected to be extended
Azmi RZmi
CA Final
★ 10K+
1
278
effective capital and maximum amount of monthly remuneration
Accountancy
answered on 21-Oct-25 17:12
is the calculation of effective capital and maximum amount of monthly remuneration under preparation of financial statements in the syllabus for us?
latest answer
No longer applicable.
Ritu Kotian
CA Inter
★ 19K+
1
253
Internal reconstruction
Accountancy
answered on 24-Oct-25 14:52
Please explain (2) adjustment and also in (6) there’s no journal entry and didn’t quite understand the balance used for trademarks and goodwill
latest answer
Preference shares - dividend no adjustment as nothing is paid. Reduce Rs. 50 preference shares and replace with 4 Pref share of Rs. 10 (40) and 3 equity shares of 5. Dr. PSC 50 Dr Capital Reduction 5 Cr. New PSC 40 Cr ESC 15 The balance left in capital reduction account after writing off PL dr balance and reduciton in plant value is to used to write off goodwill and trademarks.
Ritu Kotian
CA Inter
★ 19K+
1
199
Interest on debentures
Accountancy
answered on 24-Oct-25 14:54
in question 1, why is the last point on interest on debentures ignored? [Video Time Stamp: 34:12]
latest answer
If it paid on 31st MArch means, nothing is outstanding.
Ritu Kotian
CA Inter
★ 19K+
1
185
closing balance of profit and loss
Accountancy
answered on 17-Oct-25 23:06
for the point "profit for the year was Rs. 300000", in the textbook, 300000 is taken as closing balance but here while solving 300000 is added to opening balance to arrive at closing balance. which is the right approach? [Video Time Stamp: 04:16]
latest answer
300000 is pre acquistion 125 + 175 Coincidentally both numbers are 300. I actually have recorded this today. You will get access to it on Wednesday post diwali
Ritu Kotian
CA Inter
★ 19K+
3
201
NON VESTED IN ILL 4
Accountancy
answered on 17-Oct-25 16:58
Sir, you said that for non vested leaves there will be no cash payment for unused leaves, then we are finding rs 50,000 as employee benefit expense for non vested leave
latest answer
Because the employees can take leave next year. We will still pay them normal salary even if they do not come to work. For this salary paid, we got benefit in previous year. So expense is booked in previous year.
AKASH V
CMA Final
★ 290
1
188
illustration 7
Accountancy
answered on 13-Oct-25 22:27
why do we subtract the salvage value even when its not given as a seperate deduction in the notes [Video Time Stamp: 06:30]
latest answer
Yes. Similar treatment like income from testing.
Rithu V
CA Inter
★ 7K+
3
244
DEFERRED TAX - PPE
Accountancy
answered on 13-Oct-25 22:22
While computing Deffered tax as per WDV, should I adjust profit on sale of fixed asset or loss on derecognition of assets?.
latest answer
Ind AS follows balance sheet approach. You simply compare the carrying amount as per books and tax base. Though we sell assets, it does not result in profit or loss for tax purposes since we follow block of asset concept.
Azmi RZmi
CA Final
★ 10K+
1
169
8th sum in icai book
Accountancy
answered on 13-Oct-25 22:27
If the nrv is zero without processing it further, why shouldn't we take that as the value of the inventory
latest answer
Not like that. If the partly finished goods can be processed further, we consider the selling value of FG and reduce further processing cost. Say for example at WIP stage we can sell the product at 50. If we process it further by incurring Rs. 30, we can sell it at 90. In this case extra cost to process is 30 and extra revenue is 40. So we would process further. NRV would be 90-30 = 60. However if we process the product by incurring 30, and we get revenue of Rs. 70, it is not advisable to process further.
Rithu V
CA Inter
★ 7K+
7
246
Should depreciation always be debited to p& l a/c
Accountancy
answered on 11-Oct-25 20:06
If an asset is used to get inventory ready,depreciation to the extent can be added to cost of inventory...Sir can u explain this point with suitable example [Video Time Stamp: 11:59]
latest answer
Say there is a manufacturing plant which produces mobile phones. The depreciation on manufacturing plant is an overhead incurred to produce mobile phonnes and it will be added to cost of mobile phones.
Leela Sowmya
CA Inter
★ 0
1
201