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Ca foundation preparation
Accountancy
answered on 04-Aug-22 22:20
I am starting my preparation from today....pls suggest me ...in which order can I prepare accountancy. Which ch first and next etc ..(self study )
latest answer
Thanks
Priyamvatha Parthasarathy
CA Foundation
★ 5K+
5
528
Scope of total income
Direct Taxation
answered on 05-Aug-22 09:06
Pls give the example for this(exception),i didn't understand the example given in viedo ,example for profession
latest answer
If you maintain a foreign bank account. It is legal and permitted - you will learn more about it in FEMA in final
mani charan
CA Final
★ 3K+
6
542
Income from house property
Direct Taxation
answered on 04-Aug-22 15:53
Illustration 6 pg.4.136 Why rs. 72000 is added to interest instead of rs.360000?
latest answer
Total amount of Rs3,60,000 is the interest for the pre-construction period. It should be availed over a period of 5 equal annual installments.
Pooja .
CA Final
★ 210
2
530
Buy back
Accountancy
answered on 04-Aug-22 13:01
While doing buyback of share, for what reason equivalent amount face value of buy back shares, transferred to capital reserve????
latest answer
Buyback of shares reduce Share capital.Many investors will hesitate to buy new shares since very low capital is available.To ensure them of their credibility, equivalent reserve is created
Priya Dharshini
CA Final
★ 170
3
446
TCS U/s 206C (1H) & (1F)
Direct Taxation
answered on 05-Aug-22 12:36
A Car manufacturer collects TCS U/s 206C(1H) on the sale of car to the dealer, and the dealer collects TCS u/s 206C (1F). Whether it conflicts the provisions of sec 206C (1H) - that it sec does not apply if any other section applies.....???
latest answer
Section 206C(1H) is not applicable if the goods are covered in Section 206C(1F) So, for sale of motor vehicle, Section 206C(1F) is applicable.
Chandu vadla
CA Final
★ 11K+
1
609
#4A Inter: Question of the day (Group 1)
Direct Taxation
answered on 05-Aug-22 10:52
Examine with reasons whether the following transactions attract income-tax in India in the hands of recipients: (i) Salary paid by Central Government to Mr. John, a citizen of India Rs. 7,00,000 for the services rendered outside India. (ii) Interest on moneys borrowed from outside India Rs. 5,00,000 by a non-resident for the purpose of business within India say, at Mumbai. (iii) Post office savings bank interest of Rs. 19,000 received by a resident assessee, Mr. Ram, aged 46 years. (iv) Royalty paid by a resident to a non-resident in respect of a business carried on outside India. (v) Legal charges of Rs. 5,00,000 paid in Delhi to a lawyer of United Kingdom who visited India to represent a case at the Delhi High Court.
latest answer
Correct Answer - (i) Taxable i.e., Rs. 6,50,000 As per section 9(1)(iii), salaries payable by the Government to a citizen of India for service rendered outside India shall be deemed to accrue or arise in India. Therefore, salary paid by Central Government to Mr. John for services rendered outside India would be deemed to accrue or arise in India since he is a citizen of India (ii) Taxable i.e., Rs. 5,00,000 As per section 9(1)(v)(c), interest payable by a non-resident on moneys borrowed and used for the purposes of business carried on by such person in India shall be deemed to accrue or arise in India in the hands of the recipient. (iii) Partly taxable i.e., Rs. 5,500 The interest on Post Office Savings Bank a/c, would be exempt u/s 10(15)(i), only to the extent of Rs. 3,500 in case of an individual a/c. Further, interest up to Rs. 10,000, would be allowed as deduction u/s 80TTA from Gross Total Income. Balance Rs. 5,500 i.e., Rs. 19,000 Less Rs. 3,500 Less Rs. 10,000 would be taxable in the hands of Mr. Ram, a resident. (iv) Not Taxable Royalty paid by a resident to a non-resident in respect of a business carried outside India would not be taxable in the hands of the non-resident provided the same is not received in India. This has been provided as an exception to deemed accrual mentioned in section 9(1)(vi)(b). (v) Taxable i.e., Rs. 5,00,000 In case of a non-resident, any income which accrues or arises in India or which is deemed to accrue or arise in India or which is received in India or is deemed to be received in India is taxable in India. Therefore, legal charges paid in India to a non-resident lawyer of UK, who visited India to represent a case at the Delhi High Court would be taxable in India
Yoga Vishnu
CA Final
★ 11K+
4
4K+
Inventory
Accountancy
answered on 04-Aug-22 00:57
Please provide me these questions answer along with working note specially cost on sales
latest answer
No mention
Samarth Kshatriya
CA Inter
★ 1K+
3
541
234C
Direct Taxation
answered on 04-Aug-22 15:58
Suppose... Total tax liab hai = â?¹5,00,000 15th June taak Adv tax bharna hai = â?¹75,000 Bande ne â?¹50,000 advance tax deposit kiya. Then 15th July ko baaki â?¹15,000 bhardiya. To interest banega = â?¹15,000 Ã? 1% Ã? 2 months = â?¹300 right? Or agar due date miss kardiya to 3 months hi lena padega?
latest answer
Ok sir... Thank you
Rick Y
CA Final
★ 2K+
16
818
Mtp RTP qn papers?
Exams
answered on 04-Aug-22 13:49
If i want to practice RTP and mtps From this app Can anyone tell me from which year to which year Rtps and Mtps i should go through the questions.
latest answer
Thanks to both of you
Balachandar S
CA Inter
★ 59K+
3
706
Answer with explanation
Accountancy
answered on 03-Aug-22 22:56
Rectify
latest answer
credit supplier A/C by Rs.500 to reverse the wrong effect of debiting instead of crediting
Priyamvatha Parthasarathy
CA Foundation
★ 5K+
3
497