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AS 22
Accountancy
answered on 31-May-21 14:53
Sudharsan: Dear sir, My doubt is how the (1) question is deferred tax liability Income tax depn is less than a/cing depn so, pay now save later then it must be deferred tax asset only But they tell it is a dtl Depn low as per tax records = profits more = tax pay high= Save in future =so DTA According to my thought, but i didn't know whether it is correct
latest answer
https://youtu.be/WMJWDyKp3X0 Please watch the above video to understand it better
Suriya M
CA Final
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3
713
Fiscal policy
Economics
answered on 31-May-21 11:26
Sir Could you tell what is fiscal deficit and primary deficit?
latest answer
Thank you mam
Suriya M
CA Final
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4
712
Capital gains
Direct Taxation
answered on 31-May-21 09:44
In question number 11 of capital gains, We deduct indexed cost of acquisition [5L*301/100,(Previous owner borrowed â?¹5L in 2001 from bank for purchase of house)] and also we deduct indexed cost of improvement [15L*301/137(15L was repaid by son to bank)]. If this was the case then First â?¹5L is deducted as cost of acquisition and â?¹15L is also deducted as cost of improvement, But in this 15L that 5L also included ah sir? If yes then it may amount to two deduction of â?¹5L(exclude indexation benefit).
latest answer
Cost of acquisition and repayment are different aspects. We have to treat them separately for the purpose of computation. Whether actual cost of aquisition was paid by actual owner is irrelevant
Naveen Kumar S
CA Inter
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3
652
Monetary policy
Economics
answered on 31-May-21 10:04
How does interest on loan borrowed will increase the opportunity cost of holding money ?
latest answer
The opportunity cost of holding money is the interest rate a person could earn on other assets. Therefore, higher the interest rate, higher would be opportunity cost of holding cash and lower the demand for money. The nominal demand for money rises if the opportunity costs of money holdings (i.e. returns on bonds and stock) decline and vice versa. Higher the interest rate higher would be opportunity cost of holding cash and lower will be the demand for money.
Rithani R.C
CA Inter
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1
1K+
Material to study from
Direct Taxation
answered on 30-May-21 17:27
Which material is sufficient for Direct Tax: ICAI or Indigolearn study material?
latest answer
You can study from any material for understanding but never go to exam without refering once to ICAI study material .... It could be a big blunder!
Rithani R.C
CA Inter
★ 4K+
1
754
Bonus issue
Accountancy
answered on 30-May-21 20:11
In authorised capital, whether we have to add issue of bonus share(subscribed) or issue of bonus share(authorised), because SM gave different treatment to different answers.Kindly clarify.
latest answer
Oh thankyou sir.
Madhaan S
CA Final
★ 14K+
3
693
House property #10sum
Direct Taxation
answered on 01-Jun-21 10:59
In 10th sum how to do Int on loan how it's come 30000,41000,200000,200000,200000
latest answer
Check Sec 24(b) provisos - condition with respect to interest - loan before 1999 maximum permissible is Rs.30,000 Second proviso says "Provided further that where the property referred to in the first proviso is acquired or constructed with capital borrowed on or after the 1st day of April, 1999 and such acquisition or construction is completed within five years from the end of the financial year in which capital was borrowed, the amount of deduction 81[or, as the case may be, the aggregate of the amounts of deduction] under this clause shall not exceed two lakh rupees."
LOGANATHAN C
CMA Inter
★ 0
1
678
SA 500
Auditing
answered on 30-May-21 17:45
Inquiry and confirmation are analytical procedures. Correct/Incorrect?
latest answer
Incorrect
Sreelakshmi P V
CA Final
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1
552
SA 500
Auditing
answered on 30-May-21 21:28
Bank passbook is an example of internal evidence. Correct/Incorrect?
latest answer
If it is given by bank then we cannot say it is internal evidence. Some examples of internal evidence are invoices raised by entity for sales Acknowledgment given to creditors that goods have been received. Etc ......
Sreelakshmi P V
CA Final
★ 7K+
3
666
Mock test
Direct Taxation
answered on 30-May-21 17:39
Sir I have purchased taxation course. I want suggested answer for mock test sir. From where, I can get that sir?
latest answer
You can submit the mock test and get the answers.
Likhitha Sivani
CA Final
★ 14K+
1
737