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Nov 2020 question
Indirect Taxation
answered on 19-Dec-25 19:36
In this question, the highlighted part, i did not understood there solution, i understand that we shall take itc of 95000 but what is this extra 5000 about, i am not able to recollect the provisions in such regards
latest answer
It is old provision. There is nothing as such now. Maximum ITC that can be claimed is only what reflects in GSTR 3B.
Hrishikesh Pradhan
CA Final
★ 18K+
1
111
Can anyone explain the second journal entry
Financial Reporting
answered on 22-Dec-25 15:35
Can anyone explain the second journal entry
latest answer
The question is solved as per AS 26 which presumes 10 year useful life Cost - 80 Amortisation per year 8. Amortisation for 2 years - 16 Already charged - 5 So balance 11 lacs is charged in Year 3. However this is incorrect as per Ind AS 38.
Nihal K
CA Final
★ 440
1
126
Consolidated Financial Statement
Accountancy
answered on 18-Dec-25 16:47
Suppose A Ltd holds 38% shares in B Ltd and B Ltd holds 25% shares in A Ltd . whole should prepare CFS ? A Ltd or Both
latest answer
Can you elaborate?
Rupa Prasad
CA Final
★ 0
4
215
Sales budget format
Costing
answered on 16-Dec-25 15:25
Sir, I made ultra pro max sales budget in a hurry. This format isn't acceptable right? [Video Time Stamp: 05:22]
latest answer
works. till the time all informatino required is available.
Vinod Kumar
CA Inter
★ 11K+
1
114
Mcq chapter 5
Auditing
answered on 20-Dec-25 20:43
The answe to Mcq 2 and 4 given as d (gor both) I am not able to get the logic
latest answer
Let me know If u need more clarification
Gauri Shete
CA Final
★ 5K+
2
139
Motor Car
Direct Taxation
answered on 13-Dec-25 10:59
Sir in this question, Car is owned and maintained by employer, so it is taxable if employee is specified employee, so Mr.Balaji is a specified employee?
latest answer
Yes he is specified employee since salary is more than 50K per annum.
Priya Ravi
CA Inter
★ 55K+
1
129
Set off
Direct Taxation
answered on 13-Dec-25 11:00
Opted 115 BAC Loss from one specified business 1lakh Income from another type specified business 50k Income from same specified business 50k What is treatment ? In case of not setoff under 115 BAC Is it carry forwarded ?
latest answer
We cannot set off the loss.
Sri ram Pothineni
CA Inter
★ 11K+
1
118
Opinion or conclusion
Auditing
answered on 13-Dec-25 10:10
Ma'am, in beginning you said that we give conclusion in such type of engagement as we are giving limited assurance then why are we using the word opinion everywhere ?
latest answer
For the purpose of understanding the proper difference between audit and review. With similarity in words, the meaning can be differentiated better.
Hrishikesh Pradhan
CA Final
★ 18K+
1
108
Gain from sale of land
CFA
answered on 13-Dec-25 17:42
Gain from sales of land is inflow of cash, why we will reduce? [Video Time Stamp: 17:30]
latest answer
Agree with Avinash’s comments. Gain from sale of land represents only the difference between sale proceeds and book value of land. It is reduced as we don’t want to include it in cash flow from operations. It is shown in cash flow from investing activities
Ganesh V
CFA L1
★ 0
2
216
Wages payable query
CFA
answered on 13-Dec-25 17:38
In case of wage payable, 2016 it is around8000 and2017 it is reduced which means the cash for2017 must be increased right? Why it is reduced? [Video Time Stamp: 15:41]
latest answer
Agree with Avinash’s explanation. Wages payable is a current liability and when it reduces it leads to cash outflow. Therefore we have reduced it
Ganesh V
CFA L1
★ 0
2
139