Forums
Deb trustee
Corporate & Other Laws
answered on 27-Jul-24 11:45
Is it read as 2% of gross turnover Or total income amount Or rs50lac Cause gross turnover and total income are diff ? Where am i wrong
latest answer
It will read as: 2% of gross t/o or 2% of TI or 50L Whichever is lower
Sushmita Chowdhury
CA Inter
★ 2K+
1
240
deb trustee
Corporate & Other Laws
answered on 03-Aug-24 13:02
"can't be deb trustee= who has furnished any gaurantee in respect of principal debts secured by the debentures or intrest thereon" meaning of this ? Maam pls correct where im wrong Sec71 = CO ISSUE DEB to deb hr in this point it said DEBTOR ISSUED DEBENTURE to Co as a security ? + the debtor also appointed a gaurantor ? n tht gaurantor can't be deb trustee ?
latest answer
if a guarantor is corrupt & he doesn't want to pay back the defaulted loan, then he will not take the side of debenture holders. He will favour himself. Hence disqualified
Sushmita Chowdhury
CA Inter
★ 2K+
3
225
AS 20 MCQ
Accountancy
answered on 29-Jul-24 09:14
What is the solution of MCQ 1?
latest answer
Yes
Sagar Kathuria
CA Final
★ 3K+
3
237
Illustration 15 Past Exam
Indirect Taxation
answered on 31-Jul-24 12:31
Sir, Here the Date of invoice is 07/08/2017,Date of completion is 14/08/2017 This illustration the invoice is not issued within time U/S 31, 07/08/2017 to 14/08/2017 - 37days Why did you tell the date of invoice is issued within time U/S 31 I didn't know that please could you Explain it
latest answer
It is 7th August to 14th August so invoice is issued within time.
Sunitha Nandini
CA Inter
★ 10K+
1
196
GENERAL CLAUSES ACT
Corporate & Other Laws
answered on 28-Jul-24 22:20
What is the meaning of "previous publications " in law?
latest answer
Thank you very much Ma'am.
Dhivyaa Latha
CA Inter
★ 4K+
4
254
Holding subs
Corporate & Other Laws
answered on 26-Jul-24 20:56
Co BLtd holding Co Altd Subsidiary Co CLtd So therefore ALtd is deemed subsidiary of CLtd DLtd is subsidiary of CLtd Like this continue till ZLtd Till till how much subsidiary will consider ALtd as deemed holding ?
latest answer
No such limit of layers of subsidiary specified in law
Sushmita Chowdhury
CA Inter
★ 2K+
1
235
related to written representation
Auditing
answered on 27-Jul-24 15:12
If management or tcwg not corrected the misstatement, we have to modify. in this case is we needed to obtain Written representation?
latest answer
The process is like this - if auditor comes across misstatement, he communicates to the management and where appropriate TCWG. - if the management corrects the misstatements , so in that case there is no problem and clean report will be issued by the auditor. - however , suppose there are multiple misstatements communicated to the mgt, they sometimes refuse to correct all of them. Some are corrected and some not. In such a case , auditor can still give a clean report if he obtains Written representation from the management that the impact of uncorrect misstatement is not material.
Mohammed Bin Abdulla
CA Final
★ 2K+
1
162
194N withdrawal of cash from bank
Direct Taxation
answered on 31-Jul-24 22:49
Under 194N if withdraw more than 20L is subjected to TCS .so if an individual withdraws 10L per day for two times is TCS still applicable?
latest answer
No ,TDS u/s 194N will be attracted because of second condition.
Gokul Nath
CA Inter
★ 0
4
342
Case scenario MCQ booklet ICAI
Financial Reporting
answered on 01-Aug-24 19:10
Sir from where we can get Case scenario MCQ booklet, in icai website under new scheme it is not available, and bos also old scheme pdf available
latest answer
Ok sir
R Yashwanth Kumar
CA Final
★ 87K+
4
2K+
Journal Entry at the time of Payment
Financial Reporting
answered on 26-Jul-24 10:58
Sir, The journal entry at the time of payment is Bank A/c Dr 1,21,000 To Customer A/c 1,21,000. But in the video, it is appearing as Bank A/c Dr 1,21,000 To Interest 1,21,000 (Video Clip at 8:00) (1,10,000 * 10%)
latest answer
Will check. Thanks foe highlighting
Antara MuraliKrishnan
CA Final
★ 20K+
1
245