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Depreciation EASY
Accountancy
answered on 26-Sep-23 11:47
In this sum , as on end of 8th year , we know that the residual value and useful life have changed. But why in this sum , as on end of 8th year ,we not accounted for change and accounted for change in depreciation from year 9 onwards.
latest answer
Thank you ❤️
Krishnan K
CA Inter
★ 5K+
9
386
Capital gain
Direct Taxation
answered on 24-Sep-23 18:47
If capital gain is eg 16 lac ..and house property Is purchased for 5 lakh , and investments in nhai bonds also have been made upto 30 lacs ..so at the time of calculation of nhai bonds exemption , the lower of balance of 11lac capital gain and 30 lac nhai bonds investment is to be taken and or the lower of 16 lac and 30 lac is to be taken ..like if exemption claimed in one investment has been made from capital gain computed , then balance is to be taken as capital gain for next investment or whole capital gain amount is to be considered
latest answer
11L or 30L whichever is lower since the maximum exemption cannot exceed the amount of capital gain.
Samridhi Sareen
CA Inter
★ 830
3
370
SLR Ratio?
Accountancy
answered on 24-Sep-23 10:14
iIllustration 1-Unit 6 - Banking Comp- pg.8.90 Is the SLR 18% or 23%? in the book it is given as 23% while calculating excess liquidity?
latest answer
23% is older ratio. Now it is 18%
Aabith Sha
CA Inter
★ 8K+
1
392
Residential status
Direct Taxation
answered on 24-Sep-23 18:46
Does Income received in india means income received in indian currency in india.
latest answer
It can be any currency. Received in India means actually received in India.
Vamsi Krishna
CA Inter
★ 5K+
3
380
Partnership
Accountancy
answered on 24-Sep-23 11:40
X,Y and Z are partners in the ratio of 3:2:1. W is admitted with 1/6th share in future profits .Z would retains his original shares. Find out the new profits sharing ratios of the partners
latest answer
If u work out I'll get an answer of 12:8:5: 5 check it out 🙂
G.kavitha G
CMA Inter
★ 515
1
433
54EC
Direct Taxation
answered on 24-Sep-23 18:57
Here investment is to be made in said bonds within 6 months from date of transfer and what does this line mean whether such investment is made in current financial year or subsequent financial year?
latest answer
And the maximum exemption is 50 lakhs
Samridhi Sareen
CA Inter
★ 830
6
353
Exemptions under capital gain
Direct Taxation
answered on 24-Sep-23 00:47
For exemptions under capital gain sections 54,54B, 54D, 54EC is it cost of new asset / deposited amount or cost of new asset + deposited amount ?
latest answer
Actually there is no restriction under 54 , you can claim upto cg ..but in case 54 EC it's restricted to 50 lac...in the last case i.e 54Finstead of cg net consideration compared with investment
Samridhi Sareen
CA Inter
★ 830
12
369
Eligible deductions under 115 bac
Direct Taxation
answered on 24-Sep-23 18:48
Is deduction of 24b(interest on housing loan)for let out property available under 115bac?
latest answer
Yes. Since it is not allowed only in case of self occupied. It is mentioned in House property topic.
Sanat Harwadekar
CA Inter
★ 3K+
3
401
Capital gain
Direct Taxation
answered on 24-Sep-23 18:50
If property is acquired before 1-4-01 , then we take actual cost of property acquired before 1-04-01 and fmv as on 1-4-01 whichever is higher .. But in which case we take a) actual cost b)1) fmv as on 1-04-01 2) sdv as on 1-04-01 whichever is lower from 1and 2 will be taken and compared with actual cost and whichever is higher is taken .. In which case this is applicable ? For this actual cost of property must be before 1-04-01 or after 1-04-01 ?
latest answer
In simple terms, it is actual cost or FMV on 1.4.2001 whichever is higher. However, FMV on 1.4.2001 cannot exceed SDV on 1.4.2001. Concept of SDV is only in case of land and building.
Samridhi Sareen
CA Inter
★ 830
6
415
CMA INTER EXAM RELATED QUERY
Others
answered on 25-May-24 17:03
To appear for both groups of cma inter What is computer and CSS training required under New syllabus 2022..Please reply sir...
latest answer
CMA inter New syallabus MTPs and RTP insert it sir
Sadhvi
CA Inter
★ 8K+
2
360