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14. Accounting Concepts - Part 2 (Accrual Basis)
Accountancy
answered on 01-Sep-23 13:59
Sir, Referring to the above point (Accrual Basis) I have a doubt, as you know that every month's GST amount we should pay to GST department on 20th of succeeding month . If like this, GST amount of March 2023, should be paid on 20th April 2023 , if we do not pay on 20th we will have to pay interest and late fee . I could not pay my GST amount on 20th April 2023 (i.e GST payable amount of March 2023), I paid only on 29th April 2023. The interest and late fee, say, is Rs.3000. My question is this Rs3000/- should be taken an expense of March 2023 or April 2023 ? . Please guide me sir.
latest answer
Thank you sir....
Thankachan Jimmy
CMA Inter
★ 0
4
453
HRA
Direct Taxation
answered on 01-Sep-23 17:11
In this sum, Nov and Dec month exemption amount is not related to 2 months. Whether it is correct?
latest answer
Please check that it is multiplied by 2
Laxmi Devi Suresh
CA Final
★ 16K+
1
533
Regarding - IT & OC training
Others
answered on 31-Aug-23 20:42
I am preparing for inter nov 23 both group can I register now for it&oc training (scheduled after nov exam) ?
latest answer
No
Atharv Sankliya
CA Final
★ 3K+
1
475
Trust - itr7-form 10bb
Direct Taxation
answered on 01-Sep-23 17:12
1.If trust registered u/s 12AA whether it is mandatory to file form 10bb. 2. If trust registered u/s 12AA , but their receipts below 20 lakhs, so it does not come under tax audit,now is mandatory to file 10bb.
latest answer
Yes. In case of Trust it is required.
Varatha lakshmi
CA Inter
★ 1K+
1
431
ARTICLESHIP CONVERTED
Exams
answered on 03-Sep-23 11:51
I converted in to ca inter from ca ipcc, is any article ship requirements there to write ca inter exams? Or no need any articleship?
latest answer
You can write directly
Sandeep Gokarakonda
CA Inter
★ 25
2
481
Cost of capital - Kt and Kd
Financial Management
answered on 31-Aug-23 16:36
Greetings, In case of redeemable debentures in order to calculate the cost of capital we are considering the difference between amount payable(redemption value) and amount actually received(net proceeds){discounts given/commission etc.} as that too constitutes as cost of such capital. However while calculating cost of capital incase of term loans, the formula given ignores similar costs although commission or referral fees paid to third parties out of the sum borrowed need to be repaid eventually to the bank. Kindly explain.
latest answer
Yes
Aswin Chandar
CA Final
★ 40K+
3
531
SALARY
Direct Taxation
answered on 31-Aug-23 16:45
How calculate deduction 80CCD(1) & 80CCD (2)
latest answer
80 CCD 1 relates to contribution made by the salary employees as well as other assesse.In case of salaried employees 10% of the basic salary or the employees contribution. In the case of other individuals lower of assessees contribution or 20% of the gross total income. 80 CCD 2 relates to employers contribution to NPS for the benefit of employees here the interest arising from which shall be Taxed under income from other sources, then reduction will be claimed then the contribution shall be the contribution made by the employer or 10% of the basic salary whichever is lower can be claimed. In the case of Central Government or State Government employees it is 14% of 10%
Karthik B
CA Inter
★ 2K+
1
590
Query
Economics
answered on 30-Sep-23 11:09
In Keynesian theory chapter should be learn to draw those diagrams provided on the ICAI study Material?
latest answer
Understanding the concept will let you to draw graphs first we all should understand what the theory says and also the inference of graph has to be linked with the theory then only we can able to apply it
sradha krishna sunil
CA Final
★ 5K+
3
506
Equations
Maths & Stats
answered on 31-Aug-23 13:57
How to solve the 3rd question?
latest answer
PFA. Thanks
Taniya Thakur
CA Foundation
★ 1K+
1
597
Classes
Others
answered on 31-Aug-23 10:44
Sir for last teachers day 1 fin provided 3 days assess to all course at free of cost Can we expect this time sir
latest answer
Regret as of now we have do not have any plans about that. We have launched special courses at 80% discounted prices. These courses are available for sale from today till Teachers day - pls check them out
Sruthi sruthi
CA Final
★ 640
2
559