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Partnership firm
Direct Taxation
answered on 12-Nov-24 09:34
If a partnership firm transfers asset to a partner at free of cost ( there is no reconstitution or dissolution) What will be the tax treatment? Whether it satisfy transfer definition, if so what will be full value of consideration?
latest answer
It will be taxable as per various judgements.
sasidhar cheboyina
CA Final
★ 100
1
549
Limit
Indirect Taxation
answered on 12-Nov-24 09:32
I m not getting clarity regarding 10 crores and 5 crores once wih telling uh exceed 10 crore e invoice concepts applicable and once who exceed 5 crores?
latest answer
E Invoicing is applicable only if aggregate turnover exceeds 5 Crore.
Saniya Balekai
CA Inter
★ 285
2
344
Fair Value losses
Financial Reporting
answered on 08-Nov-24 20:40
Sir, what is logic of Adding Fair Value losses when calculating diluted EPS?
latest answer
Since the instruments would not be existing Fair value gain or loss will not exist. You will understand in Ind AS 109
Hrishikesh Pradhan
Qualified CA
★ 18K+
1
533
Anti Subsidy Duty
Indirect Taxation
answered on 12-Nov-24 09:33
So basically I just want to understand in safeguard duty you straight away took the value of assessable value by 30 lacs into 30 percentage but in the anti subsidiary duty you took the landed value that is assessable value plus BCD plus sws on the that putting 18.95% is it for different taxes different amount we have to take
latest answer
Yes right. Safeguard duty is directly computed on Assessable Value. Whereas Anti Subsidy duty working is different.
3007_ gnanavel
CA Inter
★ 150
1
279
Query related to SD
AFM
answered on 08-Nov-24 21:58
Why mean is taken as 27 in the first year. I didn't get the logic. In all other illustrations we took the actual mean
latest answer
Thank you very much sir
Krishna prasad e
CA Final
★ 16K+
2
286
Cost of capital
Financial Management
answered on 08-Nov-24 19:22
Kindly Let me know how to solve this MCQ . Thanks .
latest answer
Compute the specific cost of debt and equity, then multiply them with their respective weights. The sum is your WACC
Rajasekaran Suresh
CA Inter
★ 495
2
612
AS 16 - Advance paid for a truck
Accountancy
answered on 08-Nov-24 18:58
In this question, an advance was paid for a truck out of borrowings. As the truck has not been delivered, can I assume that the truck will take a substantial period of time to get ready for intended use, thus considering it as a qualifying asset, and capitalising the relevant interest cost? ICAI material has not capitalised it,
latest answer
Understood now, thank you sir!
Vishnu Muraleedharan
CA Final
★ 32K+
3
617
Duty drawback
Indirect Taxation
answered on 13-Nov-24 11:57
I can't see any videos related to duty drawback. Kindly guide me where it is
latest answer
We have added the topic and also responded by email. Closing the ticket
3007_ gnanavel
CA Inter
★ 150
3
277
RCM
Indirect Taxation
answered on 12-Nov-24 09:34
It is said that under RCM, recepient is liable to pay GST and thus that person has to get compulsory registration. But what if such notified RCM service is provided to a commoner, how is payment made at that time?
latest answer
Then that person should take registration if the transaction is covered under RCM.
Rania D'souza
CA Inter
★ 650
1
252
Subscribtion account
Accountancy
answered on 22-Nov-24 14:38
Sir by with out using the subscription Account how can we arrive @ the amount 7170 Like - subscription outstanding for previous year + subscription for current year like this method (part 4 of NPO) can you please explain
latest answer
Subscription as per Income & Exp in 2016 = 7500 Sub outstanding for 2015 (means received in current year) + 600 Sub received in advance in 2015 (means not received in current year but included in Income and Exp ) - 450 Sub in adv as on 31 Dec 2016 + 270 Sub outstanding on 31 dec 2016 - 750 (Shown in income but not received) =7170 (It is exactly opposite of what you do from receipts and payments to income and expenditure.
Rehanabin
CA Foundation
★ 100
1
306