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40(a)(3)
Direct Taxation
answered on 26-May-21 23:29
If payment made to a single person in a single day, the entire amount is disallowed or an amount exceeding Rs.10000 is disallowed u/s 40(a)(3).
latest answer
Entire amount
Balamurali Unnithan M S
CA Inter
★ 3K+
1
847
Payment of tax
Indirect Taxation
answered on 28-May-21 10:31
Please see the attached image. This is ICAI study material question. Question no. 3 can u please explain the answer given by ICAI.
latest answer
Thank you, ITC claimed is self assessed and the amounts in electronic ledger is based on self assessment of the assessee and not GSTR of assessee's suppliers.
surya prakash
CA Inter
★ 2K+
3
598
Articleship
Others
answered on 27-May-21 19:32
Can i appear for nov 21 inter exam with 6 months of articleship ?
latest answer
Direct entry - No
San Samm
CA Inter
★ 2K+
1
658
Mcq
Direct Taxation
answered on 29-May-21 07:16
Explain this q.no:21,I cannot get this
latest answer
Thnakyou sir
Sathiya Bama
CA Final
★ 24K+
4
738
Claim for loss of profit
Accountancy
answered on 27-May-21 11:27
Entity following calendar year. trend adjusting FY basis why? Anyone please (insurance claims) in respect of short sales calculations we adding trend on standard sales(corresponding PY sale)
latest answer
Thank you sirð?¤?
Krishna kumar
CA Final
★ 9K+
3
532
PGBP
Direct Taxation
answered on 28-May-21 07:36
Looking into sec.28(VIa), Closing stock conversion to capital assets comes under the head of PGBP. Understand the logic, the stock is reduced then GP and NP are also going to less. But how the tax effect relating to the conversion is applied in the financials.
latest answer
Taxation is different and preparation of financial statements are different. You will learn it in accountancy. As per Income tax, if any stock in trade is converted into capital asset, it is charged under PGBP
Balamurali Unnithan M S
CA Inter
★ 3K+
1
814
PGBP
Direct Taxation
answered on 26-May-21 21:07
All payments made to the firm on behalf of partners is treated as Business income of the partners? Eg, Salary, Interest, Remuneration etc.?
latest answer
Okay, Sir. Simply a partner cannot be an employee?
Balamurali Unnithan M S
CA Inter
★ 3K+
11
608
General Query.
Others
answered on 26-May-21 19:22
If a businessman receives a payment voluntary not related to the business, it can be taxed u/s 28 -PGBP or u/s 56 IFOS?
latest answer
Ok.Sir.
Balamurali Unnithan M S
CA Inter
★ 3K+
2
641
SEC 144
Corporate & Other Laws
answered on 27-May-21 10:32
Can partners of the auditor can provide specified services under section 144 to the company or it's holding or its subsidiary
latest answer
No. Explanation to the section states that the term 'directly or indirectly' shall include in case of auditor being a firm, rendering of services by the auditor either itself or through any of its partners or through its parent, subsidiary or associate entity or through any other entity, whatsoever, in which the firm or any partner of the firm has significant influence or control, or whose name or trade mark or brand is used by the firm or any of its partners.
Paidala Harish
CA Final
★ 2K+
1
666
Markets
Economics
answered on 26-May-21 16:51
Are toothpaste industry Oligopoly or Monopolistic competition markets.
latest answer
Monopolistic competition
Sonu R
CA Inter
★ 8K+
1
721