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Baggage rules
Indirect Taxation
answered on 15-Mar-25 11:04
In case of indian resident or foreigner residing in india or tourist of indian origin can claim exemption for used personal effects like clothes-But what if I just remove the tag of new clothes and say the are used and claim this exemption , is this possible?
latest answer
Yes possible practically. In exam, don't write this way.
Neha Pradhan
CA Final
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1
274
SA 505
Auditing
answered on 14-Mar-25 21:13
please tell me the meaning of positive confirmation request and negative confirmation request?
latest answer
I have explained in the previous query both. Please go through the SA 505 video also, to get clarity with examples.
Venkat L
CA Inter
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1
237
SA 505
Auditing
answered on 14-Mar-25 21:11
Madam please tell me the meaning of positive confirmation request?
latest answer
There are two types of confirmation requests we can send to the 3rd party. Positive and Negative confirmation In positive confirmation- the third party has to reply whether they agrees or disagree. Negative - only when they disagree they will be replying. But this is risky, so it’s suitable only those areas where ROMM is less, or least exception rate is expected .
Venkat L
CA Inter
★ 2K+
2
324
Adv.Capital Budgeting Illustration 22
AFM
answered on 14-Mar-25 10:25
Sir...how can I get pv of cashflows at 2.7 years in the exam?
latest answer
Do it for full years and multiply by .7
Srikanth Srimath Tirumala Peddinti
CA Final
★ 320
1
196
Classes
AFM
answered on 14-Mar-25 16:57
Can i view classes in lap if i purchase
latest answer
Have activated pls check
Anjali Shajil
CA Final
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9
250
What about additional discount not liability create
Financial Reporting
answered on 14-Mar-25 18:22
Initially create liability for 107.14 and now discount claimed 150 in the case where 500 sale what about the additional discount of 42.84
latest answer
Considered as discount on original sale.
Ramamoorthy Kaliyaperumal
CA Inter
★ 3K+
1
199
IND AS 23
Financial Reporting
answered on 21-Jul-25 15:21
sir how can we assume expenditure done by company B 10lakhs is done from the borrowed funds at group level, as at standalone level of company B it is mentioned from own funds, and also Parent company as no borrowings, I did not understand how it works,
latest answer
That is one scenario. And also we can think of it otherwise as a general borrowing for the entire group.
R Yashwanth Kumar
CA Final
★ 87K+
7
247
Debenture redemption
Accountancy
answered on 15-Mar-25 18:39
If DRI is realised at profit at the time of redemption, is it written off from capital reserve first or from statement of profit & loss first?
latest answer
If its sold at profit, it is credited to P&L
Asmita Kar
CA Foundation
★ 7K+
1
219
IND AS 23
Financial Reporting
answered on 15-Mar-25 18:56
Borrowing cost capitalised based on expenditure incurred on qualifying asset, Expenditure include only those that have resulted in , 1 Payment of cash 2 transfer of other assets or 3 Assumption of interest bearing liability doubt 1, this conditions is for both specific borrowings and general borrowings doubt 2, Assumption of interest bearing liability means time period beyond the normal credit period, This three conditions are a little tricky part,
latest answer
Yes. Assumption of interest bearing liability basically would mean for example - say issue of debentures.
R Yashwanth Kumar
CA Final
★ 87K+
1
197
IND AS 16 PPE
Financial Reporting
answered on 15-Mar-25 18:26
In this question why they have capitalized the interest, since nothing is given whether it is a qualifying asset or not and even period is less than 12 months? Even if done why done for 9 months, it should be done for 8 months (from 1st may to 31st december) only as land is a not a qualifying asset.
latest answer
They have given different assumptions in the answer by way of note. in the study material question, they have assumed that land is not qualifying asset.
Harsh Mittal
CA Final
★ 1K+
5
189