Forums
Clarification Regarding Illustration 5
Indirect Taxation
answered on 14-Apr-25 17:56
Good noon, Sir, In Illustration 5, the question details you explained in the video mention that the price of the goods is excluding GST. However, in the book provided by IndigoLearn, it is mentioned as including GST. I wanted to confirm if this is a typing mistake. Also, could you please explain how we should calculate if the price is given as including GST? Thank you!
latest answer
Typo error. Thanks for highlighting.
Shanthini Sri
CA Inter
★ 2K+
2
294
futures
AFM
answered on 11-Apr-25 07:13
Before mauturity the futures are being offset by purchase or sell the opposite, by doing that we need to pay additonal margin for second contract one also?
latest answer
If u are squaring if any existing position Ie buy with sell for same maturity if same underlying the contract is cancelled In such cases no further margin is required to be deposited
Sairam Pv
CA Final
★ 610
1
318
Recipient registration
Indirect Taxation
answered on 14-Apr-25 20:22
Sir, recipient need to be registered to claim tds under section 51 even though turnover below the threshold?
latest answer
Thanks sir
Santoshkumar Kalisetti
CA Final
★ 4K+
2
225
Regarding matching concept
Accountancy
answered on 11-Apr-25 10:19
Sir if we buy a house in an accounting period and sell it in another accounting period how is this concept relevant?
latest answer
The matching concept is to match income and expenses/cost. When we buy a home in first year - we show it as an asset and not as expense. When we sell home in second year the sale value - cost price is recorded in P&L as gain. same way when we buy goods for sale - the unsold portion is shown as closing stock. and not as an expense. When we sell those goods, it gets expensed.
Samyuktha Prem
CA Inter
★ 5K+
1
336
CA INTER FAST TRACK BATCH MAY 2025
Direct Taxation
answered on 14-Apr-25 17:59
Sir, when to use normal cost and when to use Cost of indexation formula?
latest answer
If asset is transferred prior to 23rd July 2024 then indexation is allowed. If asset is transferred on or after 23/7/2024 then indexation benefit is not allowed. However, in case of resident Individual and HUF and there is transfer of land or building or both then they have 2 options. Option 1: 20% with indexation benefit or Option 2: 12.5% without indexation benefit.
G K
CA Inter
★ 13K+
1
355
Time limit for filing application of refund
Indirect Taxation
answered on 10-Apr-25 23:39
Time limit varies in some lectures of this chapter it says 1 year and in other lectures it says 6 months (refer lecture 3 & lec 6) Also in notes 2 different timelines have been given.Please clarify this.
latest answer
ok
Neha Pradhan
CA Final
★ 9K+
2
551
Important questions list
Financial Reporting
answered on 10-Apr-25 16:14
Does the FR important questions list cover additional questions in ICAI module also?
latest answer
Yes
Ali S
CA Final
★ 8K+
1
268
Consolidated Financial Statements
Accountancy
answered on 10-Apr-25 16:41
Sir what if the subsidiary company's opening balance shows debit balance (loss), what to do in this situation sir? can we distribute this loss to holding and minority interest in pre-acquisition ? can this happen sir? sir i send one question in which opening balance of p&l has loss occured.
latest answer
The opening negative balance is used to compute goodwill or capital reserve.
39 - Sri Sankar G
CA Inter
★ 0
1
304
Audit
Auditing
answered on 10-Apr-25 14:55
Ma'am what do we mean by failure to keep insurance policies current Statement: failure to keep insurance policies current would render assets of the company uninsure
latest answer
It means that if the company does not maintain up-to-date and active insurance policies, then its assets (like buildings, equipment, inventory, etc.) will no longer be protected by insurance.
R Yashwanth Kumar
CA Final
★ 87K+
1
279
Companies Act, 2013
Corporate & Other Laws
answered on 11-Apr-25 13:55
Just wanted to clarify, a person who is an Indian citizen but not a resident in India shall be eligible to incorporate an OPC right?
latest answer
Yes.
Asmita Kar
CA Final
★ 7K+
1
233