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Is it financing or investing activity?
Financial Reporting
answered on 24-Nov-24 16:49
When a patent is obtained, is it a financing or a investing activity? If using similar logic in the case as intangible assets, should it not be investing activity and royalty derived from investing activity should be investing activity as well. Please explain
latest answer
By that logic, any income derived by operating tangible fixed assets should also be investing. The income earned by an entity by day to day operation is considered to be a part of operating activity.
Manu Jacob
CA Final
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2
838
SAR
Financial Reporting
answered on 22-Nov-24 17:02
Sir, In the question it is not clear as cash settled or equity settled How it is treated as cash settled
latest answer
SAR are cash settled.
Gunda Sharan
CA Final
★ 150
1
241
SPOM exemption
Exams
answered on 22-Nov-24 16:54
I have completed my CA inter under the old scheme and registered for articleship in April 2023, for 3 years duration. So, can I have exemption of set C and set D in self paced online modules?
latest answer
Yeah
Manasa Kondepu
CA Final
★ 3K+
1
706
Whether Registration compulsory
Indirect Taxation
answered on 28-Nov-24 11:46
For a person making inter state taxable supply of services, he is exempt from registering upto aggregate turnover of 20L Does the 20L threshold consider the turnover from sources other than such inter state services?
latest answer
Ok sir, thank you!
Vishnu Muraleedharan
CA Final
★ 32K+
6
632
Is B com necessary
Others
answered on 22-Nov-24 11:16
Sir To get a corporate job as a CA do I need to have a B. Com certificate. I'm a CA Finalist cleared Group 2 & I don't have a B. Com degree even from Ignou. In many job descriptions, B. Com is mentioned as a basic qualification.
latest answer
Ok Sir I will contact Ignou. Thank you
A Sivani
CA Final
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2
628
Modification
Financial Reporting
answered on 22-Nov-24 12:22
Sir, In this question, for 2nd year why we can't take Rs 159 i.e (129+30) for multiplication
latest answer
The option value has not moved from 129 to 159 but from 50 to 80. Since its equity - we continue to measure at. 129. The FV has come down to 50 and we have repriced the options such that the FV of options are 80. (Say by reducing the exercise price) This 30 of additional benefit that we give is accounted. Also 129 of FV is expensed over three years and increase in FV over two years. So if we club and multiply, there would be a difference.
Gunda Sharan
CA Final
★ 150
1
250
Indexation for Section 112 (Finance Act 23)
Direct Taxation
answered on 22-Nov-24 12:15
Note - Relevant to jan 25 inter Section 112, for other LTCA, is Indexation benefit available?
latest answer
Ok sir, thank you
Vishnu Muraleedharan
CA Final
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2
623
Whether termination or post employment benefit?
Financial Reporting
answered on 22-Nov-24 12:29
When gratuity is paid to an employee who is fired, is it post employment or termination benefit?
latest answer
Post employment. Termination benefit are those which are paid if employee services are terminated. Suppose a company decides to close down one of its manufacturing plants as part of a restructuring plan. As a result, employees working in that plant are laid off, and the company offers the affected employees a severance package to compensate them for the early termination of their employment contracts. This severance payment is classified as a termination benefit
Manu Jacob
CA Final
★ 6K+
1
751
PGBP - Presumptive tax scheme u/s 44AD
Direct Taxation
answered on 22-Nov-24 11:40
If an assessee opts for presumptive tax scheme and he has b/f unabsorbed depreciation of last AY, can such depreciation still set off against income calculated u/s 44AD?
latest answer
Unabsorbed depreciation would not be possible since deductions under Section 30 to 38 are deemed to have been allowed. Unabsorbed depreciation is covered in Section 32(2).
Sagar Kathuria
CA Final
★ 3K+
1
847
Clubbing of income
Direct Taxation
answered on 22-Nov-24 11:39
Why have we taken exemption u/s 10(32) for three children? Isn't it restricted to maximum 2 children only? (Q9)
latest answer
There is no limit of number of children in Section 10(32).
Sagar Kathuria
CA Final
★ 3K+
3
703