Forums
FEMA
Corporate & Other Laws
answered on 07-Jan-26 22:41
Can anyone explain this to me , gift to brother exceeds $75000 for purchase of immovable property so why permission is needed as it is overall within limit of $250000
latest answer
Although the overall LRS limit is USD 250,000 per financial year, remittance by way of gift for purchase of immovable property abroad exceeding USD 75,000 requires prior RBI approval, as such transactions are treated as capital account transactions and are subject to stricter FEMA controls.
Nagachaitanya Nomula
CA Inter
★ 8K+
2
34
Intermediate exam
Accountancy
answered on 08-Jan-26 13:00
For the accounts exam in the internal reconstruction question I wrote capital redemption a/c instead of capital reconstruction account in the journal throught the question will l loose my entire marks
latest answer
Not entire marks.
Swania Shaji
CA Inter
★ 0
1
45
Tansfer of right or title of goods
Indirect Taxation
answered 1 day ago
Sir have a doubt. the construction of building is completed but still we did't get completion certificate from competent authority. Mr.A who paid entire amount for the building now the entire amount is taxable under gst?
latest answer
If even a single rupee is received prior to completion certificate then GST will apply on total sale value.
Devathi Sai
CMA Final
★ 150
1
19
Salaries
Direct Taxation
answered 1 day ago
When accommodation is owned by the employer and gardener is provided by employer itself, it is not considered as a perquisite right?
latest answer
It is taxable.
Punitha Krishnaraj
CA Final
★ 5K+
2
31
refund of import duty
Indirect Taxation
answered 1 day ago
sir, is we required to 1. export 2. relinquish 3. destroy the goods with in 30days. as 30 days condition is not present in the material [Video Time Stamp: 16:57]
latest answer
Yes we should.
santosh durgapu
CA Final
★ 2K+
1
30
Tax computation
Direct Taxation
answered 1 day ago
For the AY 26-27 there is only STCG and transfer of virtual digital assets basic exemption can be set off or not?
latest answer
For VDA we cannot but if there is any other STCG then we can.
Devisree
CMA Final
★ 0
1
24
Tax calculation
Direct Taxation
answered 1 day ago
Basic exemption can be set off against special rate income?
latest answer
For resident individual we can set off in case of Section 112 and 111A but not Section 115BB
Devisree
CMA Final
★ 0
1
23
Buy back
Accountancy
answered on 06-Jan-26 09:48
In resource test Paidupshare cap include preference share capital or not In share outstanding ? In debt equity test in equity prefrence share cap included ?
latest answer
Shares Outstanding Test: Number of shares to be bought back should not exceed 25% of the Equity shares outstanding in the financial year Resource Test: Amount to be used for buy-back of shares should not exceed 25% of the Total Paid up Share Capital AND free reserves of the company. (for equity buy back we use equity only) Debt to. Equity : Paid up capital (Including Pref)
Sri ram Pothineni
CA Inter
★ 11K+
1
46
Working capital Management
Financial Management
answered on 05-Jan-26 17:02
I want Segregation for this Domestic and Export sales for calculation of Debtors Any Method available Sir ? I'm trying in this way
latest answer
Receivable days is computed on COS not on Sales value COGS = Sales - GP COS = COGS + Selling Exp Dom sales = 18 lacs Dom GP rate = 20% Dom COGS = 18 - 20% x 18 = 14.4 lacs Dom COS = 14.4 + Selling Exp Export Sales = 8.1 lacs GP on exports Idea GP is 20% on Ideal SP Export current SP is 10% below ideal SP = 90% of Ideal SP Current SP = 8.1 which is 90% of ideal SP IDeal SP is 8.1/.9 = 9 lacs Ideal GP on exports = 9 x 20% = 1.8 Actual COGS = 9 - 1.8 = 7.2 Actual GP = Current SP - Actual COGS = 8.1 = 7.2 = 0.9 Actual COS = Actual COGS + Selling expenses Total Selling exp = 112500 apportion in ratio 18:8.1 i.e 77586: 34914 Adding Selling Exp to COGS we get Cash COS
Eswar Aakash
CA Inter
★ 57K+
5
45
Articleship registration
Others
answered on 14-Jan-26 06:37
Sir I'm registering for articleship, I filed 102 and principal approved then I submitted....can anyone explain to me about the process after submission and please tell me how many days it took to approval by the icai regional office??? And what to do with 102 downloaded pdf
latest answer
Ok sir... Thank you
Priyanka R
CA Final
★ 20K+
4
47