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section 112. 112A, 111A
Direct Taxation
answered on 27-Mar-25 16:35
sir, what is the difference between section 112, 112A, 111A?
latest answer
112 is for general LTCG. 112A is for LTCG on sale of equity shares or units of equity oriented mutual funds or units of business trust through recognized stock exchange on which STT is paid. 111A is for STCG on sale of equity shares or units of equity oriented mutual funds or units of business trust through recognized stock exchange on which STT is paid.
Sandeep
CA Inter
★ 50
2
1K+
Forex_Illustration_55
AFM
answered on 21-Mar-25 10:42
Sir...here exchange margin is added only to USD INR but not to USD SGD / final rate SGD INR. Why sir?
latest answer
Ok sir
Srikanth Srimath Tirumala Peddinti
CA Final
★ 320
2
298
Appointment of auditor
Corporate & Other Laws
answered on 25-Mar-25 15:24
Subsequent auditor of Gov Co MrA appointed within 180days from commencement of FY, who hold office till conclusion of 1st AGM. It means there won’t be any auditor between AGM till end of FY ?
latest answer
Let's say Mr A is appointed in 180 days from 31 March 2024. Then he is here appointed for the AGM to be half for FY 24-25 which will take place between 1 April 25 to 30 September (6 months from close of FY). Between 1/4/25 - 30/9/25- the auditor will be appointed for FY 25-26 whose meeting will be held in 2026.
Sushmita Chowdhury
CA Inter
★ 2K+
1
320
customer lists
Financial Reporting
answered on 21-Mar-25 09:23
Sir for customer lists,is it corect if i say it cant be recognised as IA because the Co. doesnt have control over the asset exclusively?
latest answer
Yes, you are correct. Customer lists generally cannot be recognised as intangible assets under Ind AS 38 because the company does not have exclusive control over them. Also, Customer lists are often generated internally through business operations rather than acquired through a contractual or legal arrangement. We cannot determine the cost as well.
SANSKRITI BADRI 2111339
CA Final
★ 4K+
1
238
Excel
AFM
answered on 21-Mar-25 10:41
From where could i can access the excel sheet sir ? (of this forward fate)
latest answer
It is available in Frex LDR Notes ( In AFM revision modules) , T380 - pls check and let me know if you are able to access the same
Hrishikesh Pradhan
Qualified CA
★ 18K+
1
285
Early delivery charges
AFM
answered on 21-Mar-25 10:34
Why are we deducting the Early delivery charges from the proceeds as we will charge this amount to the customer na ? So, dont we have to add it as it will be receivable from customer
latest answer
Early delivery charges ( specifically swap costs) are added / subtracted depending on currency movement if Bank is buying at higher rate and selling at a lower rate because of early delivery request by customer - swap charges would have to be borne by the customer
Hrishikesh Pradhan
Qualified CA
★ 18K+
1
294
illustation 2
Direct Taxation
answered on 21-Mar-25 09:44
Can you please clarify why the standard deduction is not deducted from salary ?
latest answer
As question does not provide any thing. We assume that income from salaries is after deduction
Merlin Mathew
CA Inter
★ 11K+
1
252
SPOM - Career impact
Others
answered on 23-Mar-25 16:56
From a career perspective, would the topic i select for SPOM matter much if I'm applying for a role covered by that topic? Eg forensic accounting Just want to know if its fine to study with the idea of getting it done with least effort
latest answer
Thank you sir
Vishnu Muraleedharan
CA Final
★ 32K+
2
291
Liquidated damages and penalty
Corporate & Other Laws
answered on 21-Mar-25 00:08
These two examples are not understandable and confusing and how 1st example becomes penalty and why not 2nd ? Can u please help me out??
latest answer
Thankyou mam
M Pavan
CA Foundation
★ 290
2
325
Margin rate
AFM
answered on 21-Mar-25 10:29
Why are we adding 0.2% margin, we are buying na ? and buy rate is 0.45% and not 0.2%
latest answer
Q says Margin money from bank’s point of view for buying and selling rate is 0.45% and 0.20% respectively. A - When bank buys currency it is 0.45% (it is subtracted from USDINR exchange rate) & Bank will buy currency - means customer is selling it - a normal exporter entering into a forward or importer cancelling a forward they already entered into B - When bank sells currency margin is 0.2% is added to USDINR exchange rate i.e customer is buying it - an importer entering into a forward or exporter cancelling a forward they already entered into In given situation 0.2% is added as customer who is an exporter is cancelling a forward he originally entered into - situation B
Hrishikesh Pradhan
Qualified CA
★ 18K+
1
350