Forums
Long term Capital Gain on shares
Direct Taxation
answered on 22-Jan-23 09:37
If the LTCG crosses 5,00,00 then the basic exemption limit 2.5L will be applicable or not and also 100000 exemption limit applicable or not.
latest answer
Yes basic exemption only 100000 will be applicable
VV shetty
CA Inter
★ 5K+
7
484
Class for rule 42 and Rule 42 missing in ITC chapter
Indirect Taxation
answered on 21-Jan-23 10:13
Sir said he will discuss rule at end after sections but at end those classes are not there
latest answer
Welcome
Harshitha Kalidindi
CA Final
★ 51K+
3
590
Sales of goods act 1930
Corporate & Other Laws
answered on 21-Jan-23 10:05
Specific good and ascertained are same
latest answer
Specific goods mean goods identified and agreed upon at the time of contract of sale is made. Ascertained Goods are those goods that are identified in accordance with the agreement after the. contract of sale is made
Rohan Kumar
CA Foundation
★ 5
2
708
Analytical procedures
Auditing
answered on 20-Jan-23 21:57
Can anyone explain the first point given in the image
latest answer
Analytical procedure is establishing relationship between financial and non financial data to evaluate financial information. Auditor plans performing some trend analysis, reasonableness checks, ratios etc. to establish relationship and evaluate if there are any unusual fluctuations which could help him asses the ROMM. So when he performs analytical procedure he expects the relation to exist between the data he evaluates and the relation will continue, simply speaking, for non recurring or highly volatile items, ARP will not be suitable.
Devadharshini S
CA Final
★ 58K+
1
582
OPC Incorporation
Corporate & Other Laws
answered on 20-Jan-23 16:39
Hi Sir, Whether an Indian Citizen, who a NRI (Non-resident) can start an OPC company in India? If YES!!! Can he/she eligible to become the Direction of that OPC?
latest answer
Yes, an Indian citizen who is a non-resident can start an OPC and can also become the director in that OPC. The eligibility criteria for a person to incorporate OPC is that he should be a natural person and an Indian Citizen, residential status does not have an impact.
Nishanth K K
CA Inter
★ 0
1
542
Sec 15(3)(b)
Direct Taxation
answered on 22-Jan-23 09:43
If discount portion is given den the govt will not receive the Gst on Discount portion?It will be under collection of GST for Govt ,then how do they allow suppliers to give discounts and leave the GST of that?
latest answer
The supplier will give discount from how much he got from manufacturers. So that govt. Won't ask gst
Pramod Rajpurohit
CA Inter
★ 0
3
539
CA FINAL
Others
answered on 21-Jan-23 09:08
I am done with my CA Inter in the last Nov attempt. Now the biggest confustion is whether I have to register finals old syllabus or should I wait for new syllabus???? Which is better option now?? Literally no idea.
latest answer
Thank you sir
madhu miraa
CA Final
★ 5K+
4
545
Fiscal policy doubt
Economics
answered on 20-Jan-23 12:04
Can anyone explain crowding out
latest answer
it refer to that An economic theory arguing that rising public sector spending drives down or even eliminates private sector spending..
Harshitha Kalidindi
CA Final
★ 51K+
3
571
Insurance Claim
Accountancy
answered on 20-Jan-23 14:50
Why we are not considering the NP +ISC as GP while Calculating increase cost
latest answer
Yeah that is for calculation of gross profit. Gross profit on annual turnover means percentage of gross profit calculated. By NP+ ISC how will you compare that with annual turnover. So we consider GP rate
Snehashis Mohanty
CA Inter
★ 35
9
508
National Income
Economics
answered on 20-Jan-23 21:15
Under Product method illustrations , the values of opening stock or closing stock are at Market values right. It's not cost know sir ?
latest answer
Under the product method, for calculating the change in stock, we use the following formula: Change in stock = Closing Stock - Opening Stock We just have to subtract opening stock from closing stock. It is not a problem even if it's at market price. Anyway, under the product method, we arriving at GDP mp, i.e., GDP at Market price. In the product method, the formula to arrive at GDP mp is as follows: GDP mp = Value of Output - Intermediate consumption = Sales + Change in stock - Intermediate Consumption = Sales + Closing Stock - Opening Stock - Intermediate consumption
M Naresh
CA Final
★ 3K+
1
808