Forums
Taxability
Direct Taxation
answered on 19-Feb-25 21:40
X gets a gifts of house B from his friend C ( SDV is 40,000, however, current market value is 65,000). Since, Selling Price is more than SDV, shouldn’t the SP be considered, thus making 65000 taxable.
latest answer
In case of gift we have to see from receiver point of view. Since the SDV is less than 50K it will not be taxable
Dova Shaji
CA Inter
★ 520
3
229
Admin & selling distribution expenses
Financial Management
answered on 15-Feb-25 12:52
If admin is the b/f in profit and loss account Then why cogs =works cost Then we take calculations as per including b/f of admi expenses in costsheet instead of simply justify cogs=works cost Actually, I took assumption of b/f as depreciation in p&l And in balance sheet after dep net fixed assets value 26,00,000 which is given in question
latest answer
Pls feel free to make own assumptions - only thing they should not make solution complicated and lengthy in ICAI material also they solved exactly what we did in class https://resource.cdn.icai.org/81825bos65985-cp3.pdf check pages 3.66 & 3.77
anju B
CA Inter
★ 21K+
1
215
Closing stock of finished goods
Financial Management
answered on 15-Feb-25 12:48
What about closing stock of rm and clo stock of finished goods in trading account and assumption of same in opening We Simply written balancing amount in overhead as b/f In that cogs 6 percent included for closing fg After that we have to consider remaining balance in overheads ?
latest answer
We make 1 simplifying assumption that solves for most of the issues. If you wish to make more detailed assumptions pls do so and write the same in your answer
anju B
CA Inter
★ 21K+
1
216
Stock of finished goods
Financial Management
answered on 15-Feb-25 14:24
Stock of finished goods are given 6 percent of works cost which is op stock of fg/ cl stock of fg Then why we are simply said cogs=works cost One point about fg they ask right
latest answer
Sure write down all assumptions as part of answer
anju B
CA Inter
★ 21K+
5
170
Is the aggregate turnover required for mandatory e invoicing Rs 5 cr?
Indirect Taxation
answered on 19-Feb-25 22:00
Is the aggregate turnover required for mandatory e invoicing Rs 5 cr?
latest answer
yes right.
Manu Jacob
CA Final
★ 6K+
1
214
Clause (i) - sub clause (C)
Auditing
answered on 16-Feb-25 16:14
Hello ma'am, I had a doubt on description of property mentioned in table, does it means types of immovable property like lands , buildings
latest answer
Thank you ma'am
Nagachaitanya Nomula
CA Final
★ 8K+
3
185
GST Provisions
Indirect Taxation
answered on 19-Feb-25 11:00
Sir I just have a doubt that is there any changes in the GST provisions which are applicable from May 2025 and onwards attempts. If yes, can you please tell me what are the changes please.
latest answer
Thank you sir 😁
Deep P
CA Inter
★ 23K+
4
218
I did not understand point number 2. Can you please explain
Indirect Taxation
answered on 19-Feb-25 22:01
In the 2nd point - "Supply of goods after completion of job work from place of Jayant Enterprises directly by principal by declaring the place of M/s Jayant Enterprises as its additional place" Can you please explain why this does not form part of aggregate turnover. I did not understand this point.
latest answer
Supplies made by the job worker on behalf of principal will be included in the aggregate turnover of principal but not the job worker.
Manu Jacob
CA Final
★ 6K+
1
180
Illustration 1- security valuation - bonds
AFM
answered on 15-Feb-25 08:25
At 25:06 , why was the (delta y)^2 cancelled? In the convexity formula, (delta y)^2 is only in the denominator, right? Also, in the convexity adjustment formula, (delta y)^2 is different from the one in convexity formula, right? Please explain.
latest answer
https://resource.cdn.icai.org/83282bos67342-cp5.pdf Page 5.27 & 5.27 C* has (delta y ) ^2 in denominator and when we find out adjustment o price on account of convexity, we multiply C * with ((delta y ) ^2 ) x 100 So they both get cancelled (Delta y)^2) in numerator and denominator are same and not different You can check Q 49 /50&51 in P600+ also. you will understand
Ali S
CA Final
★ 8K+
1
195
Tax base of a liability
Financial Reporting
answered on 27-Feb-25 19:48
Sir, when will the TBL be more than the CAL? (which will result in taxable temporary difference and creation of DTL) Can you please give few examples? As per the definition of TBL, for the TBL to be more than CAL, shouldn't the "amount deductible for tax purpose in respect of that liability" be a negative figure? CAL – Amount Deductible for Tax Purpose = TBL
latest answer
Okay, sir. Thank you.
Denz Philip
CA Final
★ 10K+
6
248