Forums
Professional tax
Direct Taxation
answered on 23-Jun-25 15:38
Sir, if the professional tax is paid by employer it is taken as a part of gross salary and then taken as deduction. Is step 1 common for both regimes and step 2 i.e deduction is only available for out of default tax regime ?
latest answer
Entire professional tax paid is allowed as deduction.
Nagachaitanya Nomula
CA Final
★ 8K+
6
1K+
New tax regime
Exams
answered on 06-Feb-25 09:11
For November 2025 exams have to study new tax regime as per february 2025 or not?
latest answer
No
Saniya Balekai
CA Inter
★ 285
1
349
section 112
Direct Taxation
answered on 08-Feb-25 23:46
Tax rate for 112 is 12.5% or 20%/
latest answer
Thank you sir
Ajay Kumar
CA Foundation
★ 1K+
2
320
Basic concepts - illustration 3
Direct Taxation
answered on 08-Feb-25 23:46
In the qtion there is nothing specified about DEFAULT or OPTIONAL tax regime. My doubt is that whether i have to assume that it is OPTIONAL tax regime since age is given or i have to give answer for both the tax regime.
latest answer
ok sir. Thank you.
Ajay Kumar
CA Foundation
★ 1K+
2
320
Tds 194 C
Direct Taxation
answered on 07-Feb-25 17:48
I have one small doubt in understanding 194 c and applicability of tds For Ex: We Pay Trans 1: 25,000, Trans 2: 20,000 and Trans 3: 35000 In transaction like this did we need to deduct on Only 35000 in Transaction 3 Or whole transactions Retrospectively
latest answer
Since aggregate does not exceed 1L, TDS would apply only on 35,000
Sairam Reddy
CA Final
★ 10K+
3
314
composition scheme
Indirect Taxation
answered on 05-Feb-25 19:07
is "notification 2/2019 dated 7/3/19" applicable only on intra state supplies
latest answer
It is nothing but Section 10(2A) which is applicable only for intra state. Person engaged in inter state outward supplies cannot opt for composition scheme.
Sandeep
CA Inter
★ 50
1
301
Calculation of yearly payment
Financial Reporting
answered on 06-Feb-25 19:42
Sir, How did you calculate the payment amount of 42.55 crs per year in case of sale price 300 crs.
latest answer
Use the second part. From the sale price reduce PV of 100. Balance divide by PVAF.
Pradeepa Narayanan
CA Final
★ 5K+
4
322
ratio analysis
Financial Management
answered on 05-Feb-25 12:56
can we follow vertical balance sheet and profit and loss ac?
latest answer
Yes
Subathra Govarthanan
CA Inter
★ 0
1
278
TUTION FEE
Others
answered on 07-Feb-25 07:24
May I know is ca final registration fees paid to ICAI is eligible for 80C deduction as tution fees And fees paid to Indigo learn is eligible for deduction under 80C as tution fees
latest answer
No because as per 80C only tuition fees paid to recognised universities and institutions are qualified. Now, though ICAI is recognised institution but such is not considered To remember, fees paid to colleges and schools will be considered (but it is necessary that on the fee slip tuition fees is written as a proof)
Lokesh Reddy
CA Final
★ 530
2
307
Interest on delayed payments
Indirect Taxation
answered on 05-Feb-25 19:07
What is the interest % for this question also for how many days (from to ) interest should be calculated plzz do the answer
latest answer
You should calculate 18% from the time when wrongly availed ITC is utilised.
Krishna Krishna
CA Final
★ 780
1
313