Forums
Doubt on withholding tax
AFM
answered on 26-Apr-24 15:33
Sir, 1.What is the meaning of withholding tax? 2.Where is it impacts?
latest answer
WHT is TDS on foreign remittances Form 15CA / CB Sometimes WHT can be claimed by foreign country recipient if there is a DTAA ( like input tax)
Hanumanthu Rajesh
CA Final
★ 7K+
1
348
Cash flow statement (indirect method)
Accountancy
answered on 26-Apr-24 17:06
In question if net profit is given , we would consider it as net profit after tax. We will adjust non cash items and non operating expenses. What should we do when divided is paid ? Should we add back to net profit?
latest answer
No. Dividend is not deducted from net profit. So no adding back
Aswathi Aji
CA Inter
★ 1K+
1
207
Marginal costing
Costing
answered on 26-Apr-24 21:37
In this question only machinery depreciation is taken into consideration why not machinery cost??
latest answer
The answer is depreciation. Cost of machine has to be apportioned over its useful life. There is no other reasoning or logic
Devisree
CMA Final
★ 0
3
310
Insurance Claim - Loss of Stock
Accountancy
answered on 30-Apr-24 16:51
Please help with calculation of opening stock of last year.
latest answer
Given 40,000
Samarendra Patasani
CMA Inter
★ 0
1
315
As 7
Accountancy
answered on 30-Apr-24 16:55
Please provide the solution of this question
latest answer
Refer solution above.
Naina Bhojwani
CA Final
★ 5K+
3
319
auditors
Corporate & Other Laws
answered on 30-Apr-24 09:25
can 1st auditor reappointed as subsequent auditor for 5 years without cooling period
latest answer
In case the company has appointed an Individual Auditor, then such auditor cannot be re-appointed after the expiry of 5 years of its term. There should be a cooling off period of at least another 5 years.
Vidyakrishna vidyakrishna
CA Inter
★ 1K+
2
315
Bearer Plant
Financial Reporting
answered on 29-Apr-24 19:29
Case 1: Company X is a casting entity. There are some coconut trees in its premises. Whether it should be treated as bearer plants under INDAS 16 and capitalize it in the books? Case 2: Company X is a casting entity. It owns a coconut grove. Whether it should be treated as bearer plants under INDAS 16 and capitalize it in the books ?
latest answer
What is the objective/intention of the entity?
Swathi S
CA Final
★ 975
1
593
Holding - subsidiary applicability criteria
Financial Reporting
answered on 29-Apr-24 19:29
Company Y voluntarily adopts INDAS. Company X is a subsidiary of company Y . Whether it is mandatory for Company X to adopt INDAS , being a subsidiary of company Y ?
latest answer
No. But it has to provide INd AS related information.
Swathi S
CA Final
★ 975
1
271
Applicability of INDAS to NBFC
Financial Reporting
answered on 29-Apr-24 19:31
Company X (corporate entity) covered under Phase I of Roadmap. Thus, INDAS is mandatorily applicable from 1st April 2016. Company Y (NBFC) is a subsidiary of Company X. For NBFC Applicability starts from financial 2018-2019. For the FY 2018-19, whether INDAS is mandatory for company Y, being a subsidiary of Company X (or) INDAS mandatory only if the respective NBFC satisfies the networth criteria?
latest answer
For NBFC we need to check NBFC criteria.
Swathi S
CA Final
★ 975
1
268
Treatment of Interest portion of decommissioning liability
Financial Reporting
answered on 29-Apr-24 19:32
Whether Interest portion of decommissioning liability will be accounted in books? If so, how will be accounted ?
latest answer
Yes. Dr. Interest Expense Cr. Decomission liability
Swathi S
CA Final
★ 975
1
258