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Sec. 14A
Direct Taxation
answered on 26-Feb-21 16:42
If the assessing officer is satisfied that there is non compliance of 14A He can make three adjustments 1. Adding back the expenditure relating to exempt income 2.If there is interest which is not directly attributable to any particular income or receipt of amount computed in accordance with following formula AĆ?B/C A=amout used for both taxable and exempt activities B=the average value of the tax free investment C= average of the total assets 3. 0.5 % of average tax free investments Sir/ madam. I understood the 1st point but i can't clearly understand the 2nd and 3rd points. Please explain me sir
latest answer
Thank you sir
Balamurugan V
CA Final
ā 52K+
2
622
Doubt
Corporate & Other Laws
answered on 02-Mar-21 14:57
Sir the section 29 of partnership I have a small doubt transferring partner has right to share all the profits of the firm which is getting from firm to transferre or to the value which he as to share to transferre??
latest answer
Thank you sir
sai t
CA Foundation
ā 2K+
2
742
Dearness allowance
Direct Taxation
answered on 25-Feb-21 17:39
What is the difference between dearness allowance forming part of retirement benifits and dearness allowance not forming part of retirement benefits?
latest answer
Thank you bro. Ć°???
Sai Teja
CA Final
ā 14K+
3
678
Type of questions
Exams
answered on 25-Feb-21 17:29
Do they ask this types of problems sir?
latest answer
Ok bro tnx
Meda Jeevansai
CA Final
ā 21K+
2
796
Commission
Accountancy
answered on 26-Feb-21 16:07
Why didn't we include commission under "Employee benefit expense" in profit and loss account
latest answer
Sales related expenses are generally clubbed with marketing expenses
ALDRIN G
CA Inter
ā 12K+
1
588
STATEMENT OF PROFIT AND LOSS
Accountancy
answered on 26-Feb-21 16:27
In Illustration 6 of Textbook page no.4.41 of Paper1, opening stock, closing stock, and Purchases amounts are given.... But Under 'Cost of materials consumed', only the value of purchases is included....... i hav attached the qn and answer with this.... But in other questions, we have found the value by using: Opening stock+Purchases-closing stock Why??? Please clear this doubt
latest answer
Ohh kk sir...... Thank You
James Js
CA Inter
ā 1K+
8
588
General
Others
answered on 25-Feb-21 18:18
I have registered for CA intermediate both grps..and my application has been submitted on 24th feb...but i didn't receive any mail regarding my registration... and my application status is to be verified...when will it get verified and will I receive any mail after verification?...I have these queries...kindly help me with it Sir... Thank you!
latest answer
Ok Sir
Pushkala S
CA Final
ā 3K+
2
666
Securities premium account
Corporate & Other Laws
answered on 25-Feb-21 11:24
SECURITIES PREMIUM ACCOUNT CAN BE USED TO WRITE OFF DISCOUNT ON ISSUE OF DEBENTURES can anyone explain me the meaning of above sentence
latest answer
Write off means reducing the value of something. Above statement means balance in SPR account can be used (SPR A/c ..Dr. to Discount) to write off discount. Note that discount on issue of debentures is a capital loss and is either charged against the profits over a period of time (3 to 5 years or during the duration of debentures) or against Securities Premium. Numerically, you receive 95 for Rs.100 debenture (Cash increases by 95, liabilities side by 100, 5 is shown as negative figure in liabilities). Now that 5 has to go from books during duration of debentures. So you either charge it over a period of time against profits or use Securities premium i.e. reduce securities premium by 5 and discount goes off.
Sai Teja
CA Final
ā 14K+
1
832
Partial integration method
Direct Taxation
answered on 25-Feb-21 06:01
What if, Agricultural income Rs.5L Non-agricultural income Rs.1L Whether partial integration method is used?
latest answer
Okay
GOKULA LAKSHMI
CA Final
ā 21K+
2
662
Incentive vs subsidy
Economics
answered on 24-Feb-21 18:37
Is it same ? Plse give explain
latest answer
Incentives is like some bonus money which is given.subsidy means providing something at a lower price
Nivetharaman Raman
CA Foundation
ā 11K+
1
668