Forums
Quarter
Indirect Taxation
answered on 17-Jun-25 18:02
Sir, i wanted clarification in regrds of number of qquarters, we count number of quarters from which date and end on which date
latest answer
We have to see the date. Quarter or part thereof is considered. Quarter means a period of 3 months ending with June, Sept, Dec and March.
Hrishikesh Pradhan
CA Final
★ 18K+
1
208
ICAI study material doubt
Costing
answered on 18-Jun-25 16:45
A company has a normal capacity of 120 machines, working 8 hours per day of 25 days in a month. The fixed overheads are budgeted at ` 1,44,000 per month. The standard time required to manufacture one unit of product is 4 hours. In April 2021, the company worked 24 days of 840 machine hours per day and produced 5,305 units of output. The actual fixed overheads were ` 1,42,000. COMPUTE the following Fixed Overhead variance: 2. Capacity variance Sir, the answer given by ICAI for capacity variance is 17280 but isn’t the correct answer 23040 (A)
latest answer
in your working you have computed calendar variance based on days and not based on hours. Calendar variance = 120*8*6 = 5760 17280 + 5760 =. 23040 When we compute calendar variance, the capacity variance is revised. Revised Capacity Variance = (Actual hours – Revised budgeted hours) × Std. fixed rate per hour
Dova Shaji
CA Inter
★ 520
5
418
Double column cash book
Accountancy
answered on 11-Jun-25 21:04
Can a double column cash book can have Cash and bank column or bank column does not exist in double column cash book
latest answer
Cash and bank
Gurukanta Singh
CA Foundation
★ 19K+
1
191
ILL-15 (Security valuation -Bonds)
AFM
answered on 11-Jun-25 19:10
Sir here in the question Bond Y is more coupon rate with less price than Bond X i.e 8% ,936.52. we can purchase the Required no.of bonds Y and liquidate them after 2 Years and get 100000 Can u tell about this sir
latest answer
Immunization
P.udaykumar Pasupulati
CA Final
★ 2K+
1
190
method 1
AFM
answered on 11-Jun-25 15:38
Following only method 1 is enough in the exam
latest answer
Yes Ideally they mention what they want If they do not chose the easiest method
Shinisha Rose R
CA Final
★ 5K+
1
186
ICAI solution is different
Costing
answered on 11-Jun-25 14:15
Sir the ICAI solution is quite different. But the answer you explained feels more logical ..so can we write answers in the format you taught..for exam
latest answer
Yes...You can. As the answer is same.
Dova Shaji
CA Inter
★ 520
1
175
Calculation of D2
Indirect Taxation
answered on 17-Jun-25 18:04
Sir, if the person has not used anything for personal use, do we still consider 5% ? or do we conisder 5% (D2) only when there is usage for personal use
latest answer
We consider only when there is personal use else we do not.
Hrishikesh Pradhan
CA Final
★ 18K+
1
191
Form Filing
Indirect Taxation
answered on 17-Jun-25 18:03
Sir, Do we need to file some form for such apportionment, as in practical life we had a client who was dealing in both exempt + taxable, so in such apportionment was being done but do we need to file any form for such availment.
latest answer
We have to reverse the ITC which is not eligible. Need to declare the same in ITC reversal in Form GSTR 3B.
Hrishikesh Pradhan
CA Final
★ 18K+
1
176
SA210, SA220
Auditing
answered on 12-Jun-25 13:28
Could you specify the page number in the textbook for the topic SA 210 and SA 220 ?
latest answer
Chapter 11 page 11.6
Merlin Mathew
CA Inter
★ 11K+
1
188
max deduction
Direct Taxation
answered on 01-Jul-25 15:24
sir for eg. if both self occupied properties can claim a deduction of 30000 each as loan for both was taken before 1.4.1999, can the assessee claim a deduction of 60000 or will the max. for both put together be 30000 only?
latest answer
ok sir, thank you sir
Poojasree Shakthiraam
CA Inter
★ 25
2
215