Forums
Ind as -12
Financial Reporting
answered on 18-Apr-22 12:59
A) Advance tution fees Received by Mr.x rs.10000,tax is charged on Receipt base. Calculate deferred tax. B) Advance income 10000 , it will be Taxed when goods/service are delivered. Calculate deferred tax. Please can anyone explain me what is difference in above both cases treatment?
latest answer
Got it Thank you
DRASHTI DHANESHA
CA Final
★ 1K+
2
535
Cost of Inventory
Others
answered on 18-Apr-22 12:22
Why is the answer for this option (c) ?
latest answer
Input tax credit can't be part of closing stock
Swathi Krishna
CA Final
★ 8K+
3
465
Is there tax implication on terminal cash inflows?
Financial Management
answered on 18-Apr-22 10:26
In RTP nov 2020 qstn no.5, tci is added to total cash inflows and then after deducting all the outflows ,tax was computed on the same. Whereas in other questions, pv of cfat and pv of tci are calculated separately and then both are clubbed together as pvci and then deduct pvco to find npv. Why is it so?
latest answer
Ok sir..thank youð???
Navya Nisha
CA Final
★ 4K+
2
465
Insurance claim for loss of stock and loss of profit doubt
Accountancy
answered on 17-Apr-22 13:08
In paper 1 accounting the chapter of insurance claim for loss of stock and loss of profit Insurance claim for loss of stock formula 1. Amount of claim= insured value/total.cost.of stock on the date of fire Ã?loss of stock 2.claim subject to average clause= Any.of .policy/value of stock Ã?actual loss of stock 3.insurance claim = loss of stockÃ? insured value /total cost of stock Could you please anyone tell to me how to apply this formula for claiming the loss of stock I just confused????? Where I have to appropriate to apply
latest answer
Most welcome
MPR Sanjay Kumar
CA Inter
★ 530
5
592
Law inc
Corporate & Other Laws
answered on 18-Apr-22 09:29
Subsidiary co not to hold shares in holding company... Sec 19 ... . Help me with the respective point in the image.. What it means .. (2)
latest answer
Where there is no sharecapital - then in that case the interest of members in the holding company is considered for this provision of Sec 19 "19. Subsidiary Company not to hold shares in its Holding Company."
Divya K
CA Inter
★ 885
2
542
CFS
Accountancy
answered on 17-Apr-22 15:03
How 1905000 came to post acq?
latest answer
Oh ok thank you!!
Miradevi S
CA Final
★ 16K+
2
453
Inventory
Accountancy
answered on 17-Apr-22 07:50
Explain me this point and as we received in current period but paid in last year will it be inventory of current year or previous year.
latest answer
In books inventory in transit for previous year. For physical stock - it would not be as stock not yet received as on 31st March
Sugam SM
CA Final
★ 9K+
1
480
Revenue
Accountancy
answered on 18-Apr-22 08:55
What is the difference between revenue recognized and revenue realized? Basically I want to know the meaning of recognize and realize in accounting language.
latest answer
Yes. You are correct. Accrued or recognised is earned but not received.
Ratnasri N
CA Foundation
★ 0
4
477
115bac
Direct Taxation
answered on 20-Apr-22 11:02
Gift worth <50000 taxable under 115bac ... It means even if the gift worth 29000 should be added to total income
latest answer
If value of gift > Rs. 50,000 - then it is taxable. The provision for gift is same for normal tax regime and new tax regime
DOKARA Sravani
CA Final
★ 10K+
4
559
Amalgamation
Accountancy
answered on 17-Apr-22 14:28
For example A ltd absorbs b ltd In additional info : some revaluation amount given for assets liability of both compny Nd Question not mentions anything else So In b/s of A ltd Values of A ltd will shown at BV or FV ?
latest answer
Always welcome
Priyanka Agrawal
CA Inter
★ 3K+
3
486