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Partnership retirement illustration 11
Accountancy
answered on 05-Jan-22 14:03
In illustration 11 of unit3 retirement icai module i didn't understand the goodwill entry they did remaining total sum i am able to do goodwill first old 60000 i written off but again revalued 120000-60000=60000 i distributed through goodwill table in old psr and new psr but answer not coming .I didn't understand the goodwill entry given in textbook
latest answer
Ok
Harshitha Kalidindi
CA Final
★ 51K+
2
984
Investment accounts
Accountancy
answered on 17-Jan-22 11:40
Problem no 2 pg-9.37 ,how are no of right shares 2000 when I calculated it I got it as 4000
latest answer
March purchase is ex-interest where as 1st Oct purchase is cum-interest. cum interest includes, in addition to the cost or price, the interest accrued up to the date of purchase.
MAYURI RATHOD
CA Inter
★ 70
9
514
Under sources for declaration of dividend
Corporate & Other Laws
answered on 04-Jan-22 13:12
Why they specifically mentioned after charging depreciation in both current year and last year usually we charge depreciation then we arrive profit is there any reason for that?
latest answer
Its for ensuring depreciation is provided
Dhakshana Dhakshana
CFA L2
★ 18K+
3
448
Sec 50C on Stamp Duty Value
Direct Taxation
answered on 03-Jan-22 10:54
u/s 50C, if SDV is higher by 10% the actual sale consideration, the SDV will be deemed to be the actual sale consideration. Question 1: If the sale consideration is inclusive of stamp duty and registration charges with mutual consent of buyer and seller, in order to reduce the gap within 10%, is the inclusion of Stamp duty and Registration fees in agreement and sale deed allowed as part of all inclusive sale consideration? Question 2: If sale consideration is inclusive of stamp duty and registration charges, can the seller deduct this stamp duty and registration amount as expenses relating to transfer while computing the Net Sale Consideration?
latest answer
1. Stamp duty and registration cost are treated as part of cost of acquisition and will be indexed for the calculation of long term capital gain. It includes expenses of capital nature incurred in connection with such purchase or for completing the title of the property 2. Expenditure incurred wholly and exclusively for the purpose of transfer is brokerage, commission and advertisement expenses are reduced from sale consideration.
John Selvaraj
CA Inter
★ 140
1
567
IFOS
Direct Taxation
answered on 03-Jan-22 07:32
I can't understand the property part of this below sum bcoz in my book it is given as 105% but in indigo they are telling 10%.Also i could not understand the wordings.its so confusing Can anyone help me please
latest answer
It is 110 percent. It is an amendment w.e.f 01-04-2021
sriram kannan
CFA L1
★ 0
1
583
Accounts
Others
answered on 04-Jan-22 15:55
What is buyback of shares in layman's terms can any tell me......... Pls &with an example fir that....
latest answer
Repayment is not the correct term, repayment comes when an amount is borrowed or taken on loan Company is not obliged to pay shareholders, but when it wants to reduce the control /no. of shareholders it gives a proposal (an invitation to offer) to existing shareholders to sell the shares to company.
Balachandar S
CA Inter
★ 59K+
3
498
CA inter
Exams
answered on 04-Jan-22 20:53
Sir after foundation results.... I am planning to give group wise like first group in Nov 22 and second group on may 23. If I register for both groups and give only group 1 . Will they considered group 2 has not appeared or absent.
latest answer
Yeah...you register for both grp ...ad attempt one by one ..they will not consider you as a absent. Bt they will consider as a second attempt..when you attempt the exam second time..
Aditya A.D
CA Foundation
★ 10K+
2
580
Account current
Accountancy
answered on 03-Jan-22 11:15
Account current
latest answer
Please try out and share your solution. We can suggest if it requires any corrections
PRAJWAL K KALAL
CA Foundation
★ 4K+
1
545
Conversion Related
Others
answered on 02-Jan-22 23:04
I registered CA intermediate via CPT route and now I want to convert into direct entry. Also i have done my exams in December 21, shall i convert now and join article or else i have to wait till the exam result.
latest answer
You can go for Direct entry and start your articleship. Or you can wait for one more month when result will out and then start your articleship. It's upto you if you want to save your two months.
Sivaguru 07
CA Inter
★ 100
1
437
Sale of land vs sale of flat
Direct Taxation
answered on 02-Jan-22 18:22
Can anyone explain this 1)if I say sale of flat it means I am selling land(at sq yard) as well as flat( at sft rate)? 2)And sale of land means we can consider it as sale of vacant land?
latest answer
It is appropriate to consider this as "Sale of Land and Building"
vasabattula abhinav
CA Final
★ 85
1
436