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How depreciation will be claimed
Accountancy
answered on 10-Mar-23 00:29
If we had purchased a machinery on credit of RS 100000 but 50000 paid as down-payment and rest will be paid in 10 equal installment(5000). Useful life of machinery is 10 yrs. If we maintain the books of accounts on cash basis then how the depreciation will be claimed in the books...?
latest answer
Actual Agreed Value is considered as Cost of Asset irrespective of Payment. Hence , shall claim depreciation u/s 32 on Rs 100,000
sushma verma
CA Inter
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2
428
Exam revision
Others
answered on 08-Mar-23 11:57
Indigo learn material, 5attempts RTPs, 5attempts MTPs is this enough for may 2023 exam for accounts & Costing.
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In addition to above replies, past suggested answers also important
Bharath kumar Reddy
CA Inter
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705
As 1
Accountancy
answered on 10-Mar-23 17:59
Can anyone pls explain this qstn?
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Thank u sir
Navya Danda
CA Inter
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6
565
Assertion
Auditing
answered on 08-Mar-23 09:16
What is Assertion level and meaning of assertion?
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Assertion are claims that the value of assets, liabilities, income, expenses, and equity shown in financial statements are correctly measured and disclosed according to the applicable financial reporting framework. They are at three levels transaction, account balances and presentations & disclosure.
Kota Teja Bharadwaja
Qualified CA
★ 165
1
560
annual return due date
Indirect Taxation
answered on 08-Mar-23 09:21
Friends, what is amended annual return due date and also a person can take ITC upto eligible date?
latest answer
I m akram
Kamal Kumar
CA Inter
★ 7K+
5
548
Extension of due date
Indirect Taxation
answered on 07-Mar-23 21:54
So is due date for filing GSTR 1 is 11th day or 10th day?
latest answer
It's based on the Filing Type.. Quarterly or Monthly. If it is Quarterly, the due date is 13th If it is monthly, the due date is 11th
Sugam SM
CA Final
★ 9K+
1
469
I need accurate answers from Indigo learn tutor's
Direct Taxation
answered on 07-Mar-23 20:14
according to section 44 AB tax audit how to show the profit percentage actually what is the rules of this section particularly .. ......Mrs Lakshmi Lal jain a wholesale silk seller Turnover RS 1.5 crore cash receipt RS 5 lakh cash payments RS 2 lakh bank transaction RS 1 lakh here how to declare my profit percentage as section 44 AB of tax audit Query : is it mandatory to show below of 5%??? please I need a calculation in practically
latest answer
Which means no need to get books of accounts audited by Chartered Accountants.... But friend how to below 5% I have to show in this case study could you please give me a calculation of that
MPR Sanjay Kumar
CA Inter
★ 530
7
508
Exam approach
Costing
answered on 08-Mar-23 10:09
I feel scared abt this subject. I am not having confidence in this particular subject Can anyone guide me on this. I get stuck a lot while solving problem and also I do lot of silly mistakes. Also say some imp chapters so that I cover atleast 60-70 M and be perfect in that
latest answer
Important Chapters: 1) Standard Costing 2) Marginal Costing 3) Budget 4) Activity Based Costing 5) Cost Sheet The above chapters will help you get passing marks. But, to be on the safer side, do cover some 5 more easy chapters to score good marks, like Material Cost, Contract costing, Unit and Batch costing, etc. - Don't leave any chapter fully. Solve atleast basic problems from each chapter. - Be thorough with ICAI study material's illustrations and book-back questions. - Solve RTPs, MTPs and PYQs of past 5 attempts. This will give you confidence.
Sugam SM
CA Final
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Chapter 3 Prospectus
Corporate & Other Laws
answered on 07-Mar-23 20:33
Section 25(2) (b) that at the date when the offer was made, the whole consideration to be received by the company in respect of the securities had not been received by it. Ref: 3.18 of ICAI module corporate laws Doubt: Here the "date when the offer is made'' refers to the date when the offer is made to the public by the third party or date when offer is made by the company to the third party who will further issue to the public ?? Pls resolve this doubt
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Thank you 😊
Neha Baliga
CA Inter
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2
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Tax Computation
Direct Taxation
answered on 07-Mar-23 19:01
The answer should be (a)part?
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Solution
Sarthak Aggarwal
CA Final
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1
473