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Banking co
Accountancy
answered on 06-Aug-23 08:29
In the question below I attached the answer... I understand the question except Which is 11,485 amounts, which is there in the Sch- 13.... I.e interest and discount....... Amt...... How 11,485 Rs can anyone explain with logic i attached with an answer for reference.... Kindly tell me pls
latest answer
Adjusted means subtracted. So, we are adding back.
Balachandar S
CA Inter
★ 59K+
3
582
Rebate u/s 87A
Direct Taxation
answered on 06-Aug-23 13:11
For persons opting Sec 115BAC the rebate exemption limit is Rs.7,00,000 & for others it’s ₹ 5,00,000 am I right?
latest answer
Exactly. If the total income is slightly beyond 7 Lakhs and tax is higher than income then also marginal relief is allowed.
Soon to be CA
CA Inter
★ 4K+
3
660
Kindly help me with this sum....
Accountancy
answered on 06-Aug-23 07:54
In the question below I attached the answer... I understand the question except Which is 11,485 amounts, which is there in the Sch- 13.... I.e interest and discount....... Amt...... How 11,485 Rs can anyone explain with logic i attached with an answer for reference.... Thanks in advance 😄
latest answer
In the given question, it is given that some of the items are already adjusted with "interest and discount". So, we should add back the non-relevant items to "interest and discount". Interest and discount = 10,225 (given) + 740 (Tax provision) + 460 (Provision for doubtful debts) + 60 (Loss in sale of investments) = 11,485
Balachandar S
CA Inter
★ 59K+
3
567
INDAS - 116
Financial Reporting
answered on 06-Aug-23 09:52
We need to revise discount rate when there is changes in lease term In illustration 37, While calculating revised lease liability due to reduction in lease term by 8 years, why we won't considered revised discounting rate.
latest answer
Its not reassessment of term
karthick raja
CA Final
★ 3K+
1
657
ECGC. / DICGC
Accountancy
answered on 05-Aug-23 20:59
Could any one explain to me that 4.3.1 in simple terms... Pls...
latest answer
Thanks JK Well understood 🙂
Balachandar S
CA Inter
★ 59K+
4
728
Done AdvITT but Not MCS. I want to appear for Nov 2023
Others
answered on 06-Aug-23 07:47
Hello sir, I'm Done AdvITT but Not MCS. I want to appear for Nov 2023 but ICAI branch in my city (Visakhapatnam) is postponing the batch. They said they will again postpone the batch and keep it after exams. What can i do to appear in Nov 2023 exams?
latest answer
You may complete MCS in some other branch that is near to your place.
Rahul Chandramouli
CA Final
★ 600
2
757
IEPF ..amt credited to IEPF
Corporate & Other Laws
answered on 06-Aug-23 10:06
i hv doubt in understanding a) whts the diff btwn a & b d, e, g
latest answer
Thank You Sir
Sushmita Chowdhury
CA Inter
★ 2K+
13
697
Buy Back Of Shares
Accountancy
answered on 12-Aug-23 15:32
Can Premium on buy back be absorbed by general reserve
latest answer
Yes, a company's premium on buyback can potentially be absorbed by its general reserve, depending on the applicable accounting and legal regulations. However, it's important to consult with financial and legal experts to ensure compliance with relevant laws and standards before making such a decision
Jayanth
CA Final
★ 6K+
7
477
Preference allotment
Corporate & Other Laws
answered on 06-Aug-23 00:20
Is offer for sale (OFS) a type of preferential allotment ???? Could you please give me the reason if your answer is NO.
latest answer
Hii
SAI AKASH GORU
CA Final
★ 750
2
719
How to prepare audit
Auditing
answered on 06-Aug-23 08:27
How to study audit does we have to learn it line to line from icai module? As of now I don't learn anything and I am going to write nov 23 exam . Is sufficient time remaining for the preparation of audit subject if I dedicated 2 hr to audit?
latest answer
In Audit, - Understand the concepts well - Line by line reading of the module is required to get a basic understanding. No need to memorize line by line. - Be thorough with book back questions given in the module - Solve as many MTPs, RTPs and PYQs as you can. - MCQs can really help you score better. Practice a lot of MCQs. For MCQs, you may refer to the following sources: - ICAI MCQ Booklet - ICAI MTPs - MCQs in IndigoLearn app - MCQ question bank/marathon videos on YouTube (Cover these gradually. You will have a lot of concepts cleared when you solve more and more MCQs. It will really help in your exams. Also, this is not an exhaustive list. MCQs need not come exactly from these sources. Even if a different question comes, you can solve it easily if you have good conceptual clarity. Try to solve 1 MCQ in 1 min.) - For quick revision, refer to subject wise capsules given by ICAI. It includes concise notes for each chapter that help in revision. - For Correct/Incorrect: - Solve all ICAI Book back questions - ICAI MTPs, RTPs and PYQs - Correct/Incorrect compilation videos on YouTube (Same as said for MCQs, even if a different question comes, if your basic understanding and concepts are good, you can easily solve it.) - In the given time, try to cover as many important chapters as possible and also solve book back questions of all chapters simultaneously. Go with the question paper pattern. Try to cover all RTPs, MTPs and PYQs. In this way, you can comprehensively cover this subject. All the best for your exams! Do your best and leave the rest to God!
Atharv Sankliya
CA Final
★ 3K+
4
567