Forums
Residential status
Direct Taxation
answered on 11-Sep-23 15:28
Sir , In additional conditions under sec6(6) Condition1 Resident in india for 2 out of 10 previous year preceding the relevant previous year. For checking that 2 out of 10 ,can we include deemed resident is also resident for calculation of that of 2 out of 10. Eg ..prior to P.Y Year1- deemed resident Year2 - resident Other years- non resident. In this situation, whether first condition satisfied or not
latest answer
Ok.sir
Krishnan K
CA Inter
★ 5K+
8
386
Provident Fund tax liability in excess of Rs.5,00,000 and 250,000
Direct Taxation
answered on 11-Sep-23 18:04
Can anyone help me to understand the content in attached the screen shots (taken from ICAI material new syllabus)
latest answer
Thank you
SreeSree Vedu
CA Inter
★ 8K+
2
556
AS10
Accountancy
answered on 11-Sep-23 10:48
Explain these two illustrations
latest answer
When a part is replaced the existing carrying amount of part is to be derecognised and new part is to be recognised.
Rifhat Khan
CA Inter
★ 28K+
1
368
Business Combination- ICAI SM Illustration 37
Financial Reporting
answered on 11-Sep-23 10:49
Hello Sir, As discussed in the class the concept of accounting of demerger under common control, should we account Investment when the shares are issued to the demerged co. But ICAI has directly adjusted it to the other equity. Which method has to be followed?
latest answer
Question is blank.
Suresh Avinash
CA Final
★ 3K+
2
447
Profit or loss pre and post incorporation
Accountancy
answered on 10-Sep-23 17:05
Sir why the pre- incorporation profit is taken to capital reserve and loss is taken to Goodwill ? What is the logic or reason behind it?
latest answer
Loss means net assets are lower and we pid higher. Hence goodwill. You will understand in Amalgamation
GOKULALAKSHMI PANNEER
CA Final
★ 2K+
1
323
Business Combination
Financial Reporting
answered on 11-Sep-23 12:00
Hello Sir, What is the relevance of replacement award fair value given in this adjustment? Will the fair value of the replacement award be considered anytime for computations?
latest answer
Yes. Part of it will be for period completed and remaining will be for post acquisition period.
Suresh Avinash
CA Final
★ 3K+
1
341
Dearness Allowance (forming part of retirement benefits
Direct Taxation
answered on 10-Sep-23 17:36
Dearness allowance is 10000 (60% is forming part of retirement benefits) while calculating salary for gratuity, do we need to consider DA for 10000 or 6000 Any different consideration when Assessee is covered under payment of gratuity act 1972 and not covered under payment of gratuity act
latest answer
😇😇
SreeSree Vedu
CA Inter
★ 8K+
3
1K+
Residential status
Direct Taxation
answered on 11-Sep-23 15:07
In this sum ,only change is,if ship is leaving India on 10 th June . As per my knowledge, we check the date of joining till date of signing off and for such period we treat as if he is not india. Date of ship leaving India is not relevant Am I right sir
latest answer
Date of joining till date of signing off shall be excluded for calculating number of days in India.
Krishnan K
CA Inter
★ 5K+
4
442
Income tax disallowance
Direct Taxation
answered on 11-Sep-23 12:01
A company showed loss on sale of assets in it's Financial statements.. Is the Same disallowed under income tax act.. Why??
latest answer
You have a separate computation for capital gains under income tax
Sai Teja
CA Final
★ 14K+
2
407
National Income Accounting
Economics
answered on 15-Sep-23 09:39
What is the meaning of "current" transfers here ???
latest answer
Thank you sir
Neha Baliga
CA Inter
★ 16K+
2
388