Forums
Clubbing
Direct Taxation
answered on 23-Apr-23 13:40
Can we deduct ₹10, 000 for income of minor children from interest on fixed deposit while it is clubbed with parents
latest answer
Yes we can
Sruthi sruthi
CA Final
★ 640
1
489
Clubbing
Direct Taxation
answered on 23-Apr-23 13:41
income of minor child from winning lottery taxed in this hands of parents In the above cases do we need to reduce₹1500
latest answer
No deductions can be claimed against lottery income, flat 30% tax
Sruthi sruthi
CA Final
★ 640
1
472
Revaluation reseve
Accountancy
answered on 23-Apr-23 13:54
when sale of fixed assets what the accounting treatment to be done?
latest answer
Debit bank a/c Credit asset a/c
Kamal Kumar
CA Inter
★ 7K+
1
524
correct/incorrect
Auditing
answered on 24-Apr-23 10:27
please provide reason for it!
latest answer
Incorrect
Bhavya Kumar
CA Final
★ 7K+
2
581
AS 22
Accountancy
answered on 26-Apr-23 17:33
Is DTA added to p&l and DTL deducted from p&l
latest answer
Deferred Tax Asset results in a benefit and hence is reduced from tax expense and indirectly added to Profits and vice versa.
Angel Maria Varghese
CA Final
★ 9K+
1
489
Cost
Costing
answered on 23-Apr-23 12:23
In this ques. Why BEP is not calculated as fixed cost ÷profit ...plz explain
latest answer
BEP = Fixed cost / contribution p.u × sales p.u . In this ques, it given that premium is payable for ovetime for above 500 units. Contribution will be change 1 to 500 and above 500 . But as per formula they find it. At BEP, Contribution = Fixed cost. So at 500u Contribution is only 15,000 and balance 1800 is from 72 units.
Rifhat Khan
CA Inter
★ 28K+
1
583
Can anyone explain difference in calculation of days
Corporate & Other Laws
answered on 25-Apr-23 12:08
B &c
latest answer
Read the provision written above. Three months after date for 30th Aug is 30th Nov and same for 31st Aug, hence same date of maturity If the month in which the period would terminate has no corresponding day (there's no corresponding 31st Nov), the period shall be held to terminate on the last day of such month.
Raghavendra Ganter
CA Inter
★ 5K+
1
581
Sec55
Corporate & Other Laws
answered on 23-Apr-23 12:48
According to exception redemption time may be more than 20yrs but not exceeding 30yrs but subject to 10% of redemption commencing from 21st yr. Then further it is said at option of shareholder. So 10% redemption is mandatory or as per desire of shareholder?
latest answer
Yeah thanks a lot.
Sugam SM
CA Final
★ 9K+
8
527
SR
Corporate & Other Laws
answered on 25-Apr-23 12:01
Sometimes Act use 3/4th in value and sometimes SR. Can we use them interchangeably ?
latest answer
This makes too much complex to remember. 😒
Sugam SM
CA Final
★ 9K+
3
425
Chapter 2
Corporate & Other Laws
answered on 06-May-23 07:21
OPC cannot be converted into Sec 8 co. Can Sec 8 co. be converted to OPC
latest answer
Sec 8 co cannot convert into OPC...
Neha Baliga
CA Inter
★ 16K+
3
463