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can registered person whose turnover in the current year exceeds 1.5 crores still opt for composition scheme, given his turnover in the previous financial year was less than 1.5 crores, or does he have to mandatorily withdraw from the scheme
Indirect Taxation
answered on 12-Nov-24 14:27
Sir, can registered person whose turnover in the current year exceeds 1.5 crores still opt for composition scheme, given his turnover in the previous financial year was less than 1.5 crores, or does he have to mandatorily file an intimation and withdraw from the composition scheme .
latest answer
Person needs to withdraw from the composition scheme
Dova Shaji
CA Inter
★ 520
1
395
PPY question
Costing
answered on 12-Nov-24 10:57
How hours worked by Mr. Z is calculated? I am having doubts because in the soln below for the overtime caln is accounted for 2 times. But why ?
latest answer
What they have done is, they calculated the hours for: Days he worked Normal hours + Days he was overtime (by overtime, here in this calculation, they meant any day he worked more than 8 hours. They've considered the entire hours of such days) + holidays worked If you see further below, they have taken only 2 hours to calculate the overtime wage payable Hope you understood
Rajaveni Ramaiyan
CA Inter
★ 3K+
1
418
IBS
Exams
answered on 22-Nov-24 15:19
Hi sir, In IBS PAPE 6 CA FINAL like out of 5 questions can we attempt all 5, Because MCQs are also there Will they consider based on question for which we got more marks
latest answer
Yes
R Yashwanth Kumar
CA Final
★ 87K+
1
468
Modification of Charge not filed
Corporate & Other Laws
answered on 13-Nov-24 14:30
I understand that the provisions of Registration of a charge apply to Modification of a charge Now, if a charge is not registered, it will not be considered by the Liquidator So if a Modification (of a previously registered charge) is not registered, does the entire charge get ignored by the Liquidator or does he consider the old / unmodified charge only?
latest answer
OK ma'am, thank you!
Vishnu Muraleedharan
CA Final
★ 32K+
4
426
Preparation of financial statement
Accountancy
answered on 12-Nov-24 08:41
Changes in closing and opening wip why?
latest answer
What is your doubt?
Dharshana Rajkumar
CA Inter
★ 2K+
1
459
E-Way Bill
Indirect Taxation
answered on 12-Nov-24 09:28
In case, if a business is transporting goods from one of it's godown to another godown, either within the state or outside the state. Do we still have to generate E-way Bill?
latest answer
Taxable value including GST.
sravani kanigiri
CA Final
★ 140
4
436
CDOs
CFA
answered on 12-Nov-24 10:11
What is Collateralized debt obligation and how is it different from ABS
latest answer
ABS is a Security created by pooling various loans CDO is created by pooling various loans and also an ABS into it
Dhakshana Dhakshana
CFA L2
★ 18K+
1
379
Decision regarding group
Exams
answered on 12-Nov-24 10:35
I wrote group 1 of ca inter in may 24 and couldn't able to clear because of aggregate and wrote group 2 of ca inter in sep 24 and wasn't able to clear because of audit and aggregate now I am in the state of confusion in deciding which group should I give in jan 25 is it either one group or both or group 1 plus one or two paper in group 2 Please guide me in deciding
latest answer
Ok sir :) Thank you for the guidance
Sowmya
CA Inter
★ 45K+
2
465
Entity
Accountancy
answered on 12-Nov-24 08:30
What does level 1entity means?
latest answer
Level I entities are large size entities (i) Entities whose securities are listed or are in the process of listing on any stock exchange, whether in India or outside India. (ii) Banks (including co-operative banks), financial institutions or entities carrying on insurance business. (iii) All entities engaged in commercial, industrial or business activities, whose turnover (excluding other income) exceeds rupees two-fifty crore in the immediately preceding accounting year. (iv) All entities engaged in commercial, industrial or business activities having borrowings (including public deposits) in excess of rupees fifty crore at any time during the immediately preceding accounting year. (v) Holding and subsidiary entities of any one of the above.
Kaaviya Priya
CA Inter
★ 890
1
201
Doubt on amount considered
Financial Reporting
answered on 13-Nov-24 12:42
Sir,why it is considered 6 million as the cost of overhaul in y6 while in the question it is specified as 5 million
latest answer
5 is estimated at beginning. Around 3:25, I have mentioned that let's assume it actually turns out to be 6.
Abhinav K A
CA Final
★ 2K+
1
160