Forums
Sec 54 F
Direct Taxation
answered on 04-Mar-25 14:58
Hello sir , If the assessee purchases one residential house within a period of 1 year before date of transfer and suppose it's his 2nd residential house can he avail exemption u/s 54F on that 2nd house as the other point says the assessee should not own more than one residential house on the date of transfer ?
latest answer
Welcome.
Nagachaitanya Nomula
CA Final
★ 8K+
3
367
Allowable working partner salary
Direct Taxation
answered on 27-Feb-25 13:26
Here book profit is 490000 so what is allowable working partner salary ?
latest answer
First 6L - 3L or 90% whichever is higher. This is after considering amendment by FA 2024.
Sri ram Pothineni
CA Inter
★ 11K+
1
320
Grant income Doubt
Financial Reporting
answered on 26-Feb-25 07:36
Sir, we are taking the total grant amount for the purpose of calculating the grant amount to be recognised in p& L rather than taking the actual receivable amount for the respective period . what's the principle behind this
latest answer
Accrual Also matching cost with benefits
Abhinav K A
CA Final
★ 2K+
1
237
SPOM Test
Others
answered on 28-Feb-25 21:12
Can SPOM test be written for one paper at once or 4 papers together at a time? Is there any fee for test?
latest answer
Now, it depends on you, let us assume you completed all the videos of ICAI, now generally there are 3 slots (as far as my city is concerned) in a day , 8 to 11 , 12 to 3 and 4 to 7. So, practically you can give 2 at a time, but it's advisable to give one at a time. Secondly, yes there are exam fees of Rs 500/- per exam paper . So for 4 papers , fees will be Rs 2000/-
Shyamala Sivakumar
CA Final
★ 210
3
741
About Increasing Interest Rates by Banks
CFA
answered on 25-Feb-25 19:23
Sir, I have a Small Doubt about Interest Rates in Commercial Banks.Some Banks maintain the Constant(throughout the Year)in Interest Rates To Their Customers When they are taking Loans.In practical Life when the Banks Changes the Interest Rates in order to Balance money Supply in the Market ?
latest answer
Thank you sir
dhupam jayanth
CFA L1
★ 10
2
231
Doubt regarding calculating YTM
AFM
answered on 25-Feb-25 19:14
Sir, In the question, it is stated that the interest on debentures is paid semi-annually at 14% for a ₹100 bond over a period of 5 years. However, the interest for the first 3 years is paid in advance, and the balance for the remaining 2 years is paid at the end of the third year. My doubt is: while calculating the YTM, should the interest be shown for each year and multiplied by the PVIF, or should it be considered only on the actual dates of interest payment? like Time 0: ₹42 (interest for 3 years paid in advance) End of year 3 (6th period): ₹28 (remaining interest for 2 years) End of year 5 (10th period): ₹100 (principal repayment)
latest answer
Thank you, Sir, for clarifying my doubt.
Mano
CA Final
★ 80
2
325
Rebate u/s 87A
Direct Taxation
answered on 27-Feb-25 13:26
Is Rebate is not applicable for special rates of income tax under new regime, if income is less than basic exemption limit.
latest answer
No. It is not available
Short Video
CA Inter
★ 745
4
347
Foundation to INTER
Exams
answered on 25-Feb-25 14:42
If I pass in january foundation exam..can I write inter group 1 in MAY ..or in SEPTEMBER ....and please tell me about when I write for both groups
latest answer
No. Jan results will be out in February. You need 8 months study period.
Sonia
CA Foundation
★ 0
3
271
SA 800
Auditing
answered on 25-Feb-25 23:29
Kindly explain the crux of the grey para
latest answer
The lack of neutrality in SPFs means they serve a specific purpose rather than presenting financial data for general stakeholders . Unlike general purpose which are for broad range of users or stakeholders, these are designed with specific objective and specific users .
R Monika
CA Final
★ 210
2
344
ITC-Sec 17(5)
Indirect Taxation
answered on 27-Feb-25 13:37
In this lecture-40, Services under RCM are blocked i.e for example A lawyer gives services to Mr A ,here mr A will pay GST will pay GST to Govt & will not claim GST. But what if lawyer provides services to a registered firm lets say PQR ltd,PQR ltd will pay GST under RCM but can they claim ITC?
latest answer
Tax paid under RCM can be claimed as ITC.
Neha Pradhan
CA Final
★ 9K+
1
327