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Professional ethics
Auditing
answered on 26-May-24 09:07
Here clause 1 of part 1 of the second schedule says auditor is not obliged to share the working papers with the clients, and also the branch auditor is not obliged to share the working paper with the group auditor, If they share the working papers to client, Or branch auditor shares working paper with group auditor, Will they be guilty of professional misconduct,
latest answer
Thankyou maam understood
R Yashwanth Kumar
CA Final
★ 87K+
2
438
Ca inter registration
Exams
answered on 23-May-24 12:30
What is the last date of registration for Jan 25 inter exams
latest answer
1st may 2024 is the last date of registration for jan 25 exam
Elavarasi B
CA Inter
★ 46K+
2
411
Regarding illustration 5 of value of supply
Direct Taxation
answered on 29-May-24 13:52
Sir in that question 5 (i) Gst is included shouldnt that be subtracted while calculating Gst as per second 15 1 a
latest answer
It is excluding GST only. It is solved as per excluding GST only. It is clerical error in material.
Gayathri Sri
CA Final
★ 3K+
5
227
Professional ethics
Auditing
answered on 26-May-24 09:08
If a CA holding COP and also in employment, refers a lawyer to his employer and lawyer pays him some referral fees then he will be definitely guilty under clause 2 of part 2 of the second schedule, But a CA holding COP shd not be engaged in employment, this also will be wrong know maam
latest answer
Ok maam
R Yashwanth Kumar
CA Final
★ 87K+
2
446
Income Tax on NRI A/C
Direct Taxation
answered on 29-May-24 12:34
Dear Sir, A person who is employed outside India and he is sending his salary from out side India to his NRI a/c in India. If I am not wrong this income is accrued out side India but RECEIVED in India. Then why is it not being taxed in Inia sir. ? Please guide me sir.
latest answer
In case of receipt, we look at the first receipt. Subsequent receipt is known as remittance.
Thankachan Jimmy
CMA Inter
★ 0
3
410
Practitioner's Report Format - SRE 2400/ 2410
Auditing
answered on 23-May-24 09:51
As per Module, Conclusion para comes before Basis for conclusion para, whereas in Bare SA's illustrative reports, Basis for Conclusion is placed before the conclusion para. Which one is correct?
latest answer
It has to be conclusion and then basis for conclusion .
Himanshu Somani
CA Final
★ 97K+
1
622
Dilutive shares arising due to ESOP
Financial Reporting
answered on 27-May-24 16:02
Hi Sir, When calculating dilutive shares arising from outstanding options as of the reporting date, it's assumed that all options will be converted, and equivalent shares for weighted average options outstanding (against which consideration will not be received) are considered in the denominator. However, why isn't the unamortized option cost (e.g., ESOP charge) reduced in the numerator? This cost, which will be allocated in future periods, is to be booked upfront now (for purpose of DEPS calculation) as we're assuming all outstanding options are exercised. While it's understood that there won't be any savings resulting from such conversion, there are future costs associated with it.
latest answer
The point of calculating diluted EPS is to understand what would happen to current EPS if the shares were converted now. We are not looking at future expenses. Similarly. when convertible debentures are converted, there would be potential savings in the future as well. but we consider what we would have saved in the current period.
SravaN KumaR
CA Final
★ 5K+
1
437
Syllabus related
Indirect Taxation
answered on 23-May-24 09:20
Hi Sir - is baggage chp in portion for Nov-24? cant find in module. Also, wanted to confirm if the course if fully updated for Nov-24?
latest answer
Welcome. All the best.
Priyanka Udeshi
CFA L1
★ 14K+
4
438
Journal Entry
Accountancy
answered on 27-May-24 15:06
1.What is the journal entry should be passed for loss of stock in Tally? 2. What should be the closing stock entry of trading account?
latest answer
In tally you can directly update closing stock in value. No need to pass journal entry. So loss / gain is automatically captured.
Snehashis Mohanty
CA Inter
★ 35
2
460
Value of GST
Indirect Taxation
answered on 29-May-24 12:37
Is this deductible or not u/s 15(3)(b) In study material solution it is stated as not deductible why?
latest answer
Since it is post supply discount. Post supply discount can be reduced only if it satisfies the conditions given under Section 15(3)(b).
Mainak Chakraborty
CA Inter
★ 0
2
357