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Sec.115BAC
Direct Taxation
answered on 07-Jun-21 16:45
If an assesee choose sec.115BAC. He is entitled to claim the professional tax paid as a deduction?
latest answer
Professional tax deduction is not given if assessee opts for 115BAC
Balamurali Unnithan M S
CA Inter
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3
654
Standard costing
Costing
answered on 08-Jun-21 04:39
M P: Why this 4000/- is adverse? Sir It's from the latest RTP question.
latest answer
Thank you mam
SREEABITHA SENTHILKUMAR
CA Inter
★ 1K+
2
620
Cost sheet
Costing
answered on 14-Jun-21 11:46
Need answer for this question sir
latest answer
Your solution is correct
SREEABITHA SENTHILKUMAR
CA Inter
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14
612
Compilation Engagement
Auditing
answered on 07-Jun-21 13:24
What does it mean? From which chapter is the question picked? Itâ??s a 2 mark question from Nov 2019 attempt of CA IPCC. The answer in the suggested answer didnâ??t explain much.
latest answer
SRS 4410 A compilation engagement is a type of engagement where a company engages an outside accountant to prepare and present financial statements. It is not designed to express an opinion or provide assurance regarding the information contained in the financial statement.
Elvis Martis
CA Inter
★ 0
1
621
Doubt
Accountancy
answered on 07-Jun-21 18:21
Why in this problem interest on debenture is not accounted any where (especially in bank a/c)..?
latest answer
Thank u sir
Sri kanaga Varshini
CA Final
★ 3K+
2
597
Sec 56(2)(10)
Direct Taxation
answered on 07-Jun-21 19:27
Two questions on sec 56(2)(10) Q1: Section states that if a person receives cash >50,000 will be treated as IFOS. Does this cash mean physical cash or even the money received in form of account payee cheque or other electronic modes of transfer. Q2: If the stamp duty value is >10% of actual sale consideration, then the value SDV - Actual consideration paid will be considered as income. If the reverse happens where the Stamp duty value is <10% of actual sale consideration, can we treat the difference negative amount (SDV-Actual consideration) as loss and claim set-off?
latest answer
Q1: Not only cash. Any sum of money, without consideration, the aggregate value of which exceeds fifty thousand rupees, the whole of the aggregate value of such sum. Q2: No set off
John Selvaraj
CA Inter
★ 140
3
656
Accounts of companies .
Corporate & Other Laws
answered on 07-Jun-21 11:54
Sir books of accounts includes Financial statements ...? How long Financial statements have to preserve .
latest answer
Preserve for 8 year as per sec128 of co. Act 2013 and book and paper's includes all those things, refer sec 128 for more clarity
M Naresh
CA Final
★ 3K+
1
654
Accounts of companies .
Corporate & Other Laws
answered on 07-Jun-21 17:58
Sir books of accounts includes Financial statements ...? How long Financial statements have to preserve .
latest answer
Definition in Sec 2: Books of account includes records maintained in respect ofâ?? (i) all sums of money received and expended by a company and matters in relation to which the receipts and expenditure take place; (ii) all sales and purchases of goods and services by the company; (iii) the assets and liabilities of the company; and (iv) the items of cost as may be prescribed under section 148 in the case of a company which belongs to any class of companies specified under that section; Financial Statements are prepared from Books of Accounts. So, in a way yes, it can be included. But generally, financial statements are separately mentioned as books of account will include the entire record. As for preservation of books of account, period is 8 years. Can say, the period refers indirectly to financial statements as well as it is a simplified derivation of books of account. Company would want to retain this derived data, if it's preserving the base data.
M Naresh
CA Final
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2
617
Types of Financing
Financial Management
answered on 07-Jun-21 14:20
In case of preference issue, the preference shareholders get voting rights on non payment of dividend for at least two years...Now the question arises whether this two years should be interpreted as consecutive two years or any two years??
latest answer
Consecutive
Anjali Dhyade
CA Inter
★ 330
1
559
ACCOUNTS
Accountancy
answered on 07-Jun-21 18:59
Can you put this solution .
latest answer
Find the attached answer
Aakash Raavi
CMA Inter
★ 320
2
631