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Capital deemed to be Preference Share Capital
Corporate & Other Laws
answered on 04-Mar-23 06:48
Anyone kindly explain in Simple terms. Thank you.
latest answer
Thank you sir.
Rajasekaran Suresh
CA Inter
★ 495
6
918
Cash flow
Accountancy
answered on 02-Mar-23 12:24
Can anyone explain me what is the logic behind Opening balance -Closing balance while computing cash flow by giving simple example?
latest answer
Creditors If opening is 10000 Closing is 0 And no purchases during the year Means u paid 10000 during the year( cash. Outflow) Another example Opening 10000 Purchases 50000 Closing 20000 Means actual cash outflow = opening + current year purchases -closing =40000
Snehashis Mohanty
CA Inter
★ 35
9
405
SECTION 39 ;- Allotment of Security
Corporate & Other Laws
answered on 02-Mar-23 20:35
As per companies act - minimum application amount is 5% of issue price of shares or as may be prescribed . But , SEBI has prescribed @ 25% . What to write in exams ?
latest answer
Its important to mention the Companies Act provision (5%) in exam. You can additionally write in brackets the Sebi requirements also just to display your knowledge. Marks will be allotted for Company Law provision mainly.
Varun Mulay
CA Final
★ 39K+
4
429
PGPB
Direct Taxation
answered on 02-Mar-23 13:55
Please kindly solve the given problem in detail ??
latest answer
Hope the answer is right
Aakash Raavi
CMA Inter
★ 320
1
432
Deemed Prospectus
Corporate & Other Laws
answered on 02-Mar-23 10:39
If allotted sold shares to the public after paying full consideration within 6 months.Is it Deemed Prospectus.
latest answer
As per section 25 of Act , A document issued by an entity for issue of shares to public within 6 months of execution of allotment contract within Company and such entity OR Issues a document beyond 6 months and Only part Consideration is paid to company, Then such Document issued to public and within Company and entity as well shall be deemed as prospectus u/s 25 and all compliances with regard to issue of Prospectus shall apply to such document. For eg :- section 26 , 447, 34 and 35
Divya Naik
CA Inter
★ 7K+
2
530
Residential status
Direct Taxation
answered on 02-Mar-23 09:15
Why untaxed past profit is not taxable?
latest answer
Untaxed past profits of previous years we should go back and tax in those years only not in current year so its not taxable in current year
Kamal Kumar
CA Inter
★ 7K+
1
468
IND AS 116
Financial Reporting
answered on 04-Mar-23 04:45
Hello Sir, What is the difference between modifying the lease term and revision of lease term?
latest answer
A Lease Modification is - Change in scope or consideration which was not a part of original lease contract. Are you asking about term (time) or term (conditions)
Suresh Avinash
CA Final
★ 3K+
3
449
AS
Accountancy
answered on 04-Mar-23 08:42
Answer for this
latest answer
Tq sir
Prasanna Ram
CA Inter
★ 0
5
524
Agency
Corporate & Other Laws
answered on 06-Mar-23 11:42
Can someone explain this I don’t get it
latest answer
But there is an obligation/duty arising out of it which the agency must pay for it. So, A can't revoke
SANSKRITI BADRI 2111339
CA Final
★ 4K+
6
508
Indian Contract Act
Corporate & Other Laws
answered on 07-Mar-23 21:37
As per the section 38 of the Indian contract Act 1872 Offer of performance must include certain conditions Like (1) it must be unconditional (2) it must be made at a proper time and proper and under such circumstances that the person to whom it is made may have a reasonable opportunity of ascertaining that the person by whom it is made is able and willing there and then to do the whole of what he is bound by his promise to do; (3) if the offer is an offer to deliver anything to the promisee, then the promisee must have a reasonable opportunity of seeing that the thing offered is the thing which the promisor is bound by his promise to deliver. In 2nd Condition is the promises bound to ascertain the willingness of the promisor In 3rd condition (1)Is promisor bound to give reasonable opportunity to promisee means if the promisee does not checking the goods it is the duty of the promisor to remind the promisee to check the goods (2) If the promisee does not check the goods then who will responsible if the goods have certain defect
latest answer
The 2nd condition emphasizes on the point that when the offer to perform is being made, the other party should be in a position to ascertain the ability and willingness of performance of the person making the offe to perform. In the 3rd condition, The promisor has no responsibility to remind the promisee to check the goods. If the promises does not check the goods he cannot hold the promisor responsible, however he can claim ordinary damage depending on the type of defect.
Rohan Kumar
CA Foundation
★ 5
3
695