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AS-19 Leases
Accountancy
answered on 06-Mar-21 09:58
Doubt regarding finance charges in the pic In the top it is given assuming zero residual value but at 5th year 25000 of guaranteed residual value is added why is it could you please help me sir
latest answer
Ok sir thank you
SREEABITHA SENTHILKUMAR
CA Inter
★ 1K+
4
711
Capital gains
Direct Taxation
answered on 04-Mar-21 20:04
What does extinguishment of right mean? How does it amount to transfer?
latest answer
Now I understood sir.. Thanks..
Sai Teja
CA Final
★ 14K+
6
721
Doubt
Direct Taxation
answered on 04-Mar-21 19:47
Can we study capital gains chapter before studying pgbp
latest answer
Thanks. Sir
Sai Teja
CA Final
★ 14K+
2
750
Feb MCQs
Information Systems
asked on 04-Mar-21 19:38
if anyone remember how many 2 marks MCQs were asked in EIS SM Feb exams?please anyone reply please
latest answer
No answers yet!!
Laxman kumar
CA Final
★ 4K+
0
696
Transfer of capital asset from partnership firm to existing company
Direct Taxation
answered on 04-Mar-21 19:49
How can assets from partnership firm be transferred to an existing company without attracting capital gains tax. Both the firm and company have same members as partners and shareholders respectively
latest answer
Refer to 47(xiii)
suriya P.
CA Final
★ 2K+
1
699
Takeover of Partnership company
Corporate & Other Laws
answered on 04-Mar-21 19:50
Is there any tax implications for takeover of a partnership firm as a going concern by an existing company under income tax act.does this transfer attract capital gains tax?
latest answer
Exceptions to transfer provided by Section 47 (xiii) any transfer of a capital asset or intangible asset by a firm to a company as a result of succession of the firm by a company in the business carried on by the firm, or any transfer of a capital asset to a company in the course of demutualisation or corporatisation of a recognised stock exchange in India as a result of which an association of persons or body of individuals is succeeded by such company : Provided thatâ?? (a) all the assets and liabilities of the firm or of the association of persons or body of individuals relating to the business immediately before the succession become the assets and liabilities of the company; (b) all the partners of the firm immediately before the succession become the shareholders of the company in the same proportion in which their capital accounts stood in the books of the firm on the date of the succession; (c) the partners of the firm do not receive any consideration or benefit, directly or indirectly, in any form or manner, other than by way of allotment of shares in the company; and (d) the aggregate of the shareholding in the company of the partners of the firm is not less than fifty per cent of the total voting power in the company and their shareholding continues to be as such for a period of five years from the date of the succession; (e) the demutualisation or corporatisation of a recognised stock exchange in India is carried out in accordance with a scheme for demutualisation or corporatisation which is approved by the Securities and Exchange Board of India established under section 3 of the Securities and Exchange Board of India Act, 1992 (15 of 1992);
suriya P.
CA Final
★ 2K+
1
1K+
Study material
Others
answered on 04-Mar-21 19:02
Is the study material for may 21 foundation attempt the same as nov 21 foundation attempt?
latest answer
Yes almost same
Reetikaa R
CA Final
★ 7K+
1
653
doubt regarding ceiling limit of company audit
Auditing
answered on 04-Mar-21 18:03
is the ceiling limit is applicable in case of tax audit???
latest answer
-> For tax audits there is separate ceiling limit -> 60 per auditor (as individual/partner) -> If CA in practice accepts more than 60 in a FY u/s 44AB: deemed to be guilty of professional misconduct
Bavas Muhammed
CA Inter
★ 0
1
730
Branch accounting
Accountancy
answered on 06-Mar-21 06:52
Sir, can we prepare both branch cash alc and branch expenses alc
latest answer
Yes. Branch expenses A/c is for ascertainment of total expenses incurred. Branch Cash / Bank A/c tells us about cash flow at branch
Subash Chandrabose
CA Final
★ 32K+
1
697
Idle time
Costing
answered on 05-Mar-21 10:39
Guys can anyone help me for how to identify idle time in this question
latest answer
Divide the labour cost given with the rate per hour. That gives you number of hours. Compute idle time on the same.
Vishwanath Tadur
CA Inter
★ 2K+
1
715