Forums
illustration 6
Costing
answered on 13-Feb-25 16:49
why are we taking contribution rather than taking actual selling price like we did in the previous question?
latest answer
Contribution is a % of sales. So if you take sales and reduce variable costs, you would reach the same contribution.
Abhaya Pillai
CA Inter
★ 0
1
272
Should we not subtract the Government subsidy received?
Indirect Taxation
answered on 14-Feb-25 21:48
In the question its said the list price takes into account the 2 subsidies. Hence shouldn't we subtract the Gov subsidy from the list price?
latest answer
When they say it takes into account "It means that subsidy is already reduced"
Manu Jacob
CA Final
★ 6K+
1
239
inc from HP & agricultural income
Direct Taxation
answered on 14-Feb-25 21:39
Sir, a] why is std deduction of 30% deducted from income from HP as income in question would have been provided after dedducting standard deduction? b] under what head would agricultural income from outside india be considered?
latest answer
When they say rental income it is before standard deduction. Thats why we deduct 30%. If question specifies as Income from House property. Then we do not reduce. Agricultural income from outside India will be taxed under IFOS.
Sandeep
CA Inter
★ 50
1
386
avg investment
Financial Management
answered on 14-Feb-25 10:41
isnt (initial inv - scrap value )/2 giving us the avg investment we made? why do we add salvage value again? it is not an investment made right?
latest answer
Say initial investment is 100 and Salvage value is 10 after say 7 years Out of 100, 10 is investment from Year 0 to year 7 so average investment is 10 - A for balance 90, investment is 90 in year 0 and 0 is the value of investment in year 7 - so average value of investment is (90 + 0 )/2 = 45 - B Total Average investment is A + B = 10 + 45 = 55 = (100+10)/2 = 55
Rania D'souza
CA Inter
★ 650
1
367
Other shareholders fund
Financial Management
answered on 14-Feb-25 10:28
Here, why we have to consider only profit & loss a/c in other shareholders fund it may be extra cap or reserves and surplus etc
latest answer
When they have not given details of R&S why will we create a new head. We will add everything into P&L account Also in FM, P&L, Reserves are all part of R&S and there is no distinction like in accounting. Here focus is on analysis and not accounting head
anju B
CA Inter
★ 21K+
1
269
In qn 1, if the goods first come to Maharashtra, what would the answer be?
Indirect Taxation
answered on 14-Feb-25 21:48
In qn 1, if the goods first come to Maharashtra from China and then he sends it to USA, what would the answer be?
latest answer
Then it is import of service and then export of service.
Manu Jacob
CA Final
★ 6K+
1
250
In case of purchase OTC and transported to another state
Indirect Taxation
answered on 14-Feb-25 21:48
In case of purchase OTC and transported to another state, what happens if buyer is registered? What is the place of supply?
latest answer
If buyer is registered then we will apply 10(1)(a) or 10(1)(b) or 10(1)(c)
Manu Jacob
CA Final
★ 6K+
1
223
Unpaid seller - right of resale
Corporate & Other Laws
answered on 13-Mar-25 00:27
Under right of resale (Sec 54), if an unpaid seller gives notice of intention to resale to buyer, is he/she entitled to retain profit or return profit to the original buyer?
latest answer
thank you ma'am
Asmita Kar
CA Final
★ 7K+
3
303
Sec 6(1) exception
Direct Taxation
answered on 14-Feb-25 21:41
Indian citizen or person of Indian origin comes on a visit to India during PY My doubt is there is 2 condition that is 1.182 days or more 2.182 days or more and 365 in preceding 4 py For other two exceptions we took 182 days or more because there were similarity in the points but here because there is a condition that if domestic source is more than Rs 15 lakhs, stay more than 120days in PY and 365 in preceding PY only this condition is there Here we don't have 182 days that is 1st condition or it is applicable
latest answer
If 182 days is satisfied then he is definitely resident. If not satisfied, then we look at 120 days or more in PY and 365 days or more during 4 years preceeding the PY.
kavith kavi
CA Inter
★ 640
1
285
Doubt in an MCQ question available in the MCQ section
Indirect Taxation
answered on 14-Feb-25 21:49
In question 3, for additional consideration received should the Time of supply not be the date of actual receipt as per section 12(6). PFA the screenshot of the question
latest answer
If excess amount received beyond the invoice is upto 1000 then for such excess TOS shall be at the option of supplier.
Manu Jacob
CA Final
★ 6K+
1
235