Forums
Set off and carry forward of losses
Direct Taxation
answered on 28-Feb-24 17:17
In the current year depreciation is set off with only PGBP and in the following year it will become unabsorbed when it is not set off with PGBP and it can be set off with any other heads of income??
latest answer
Current year first preference is PGBP. If not possible then other income except salaries.
Devisree
CMA Final
★ 0
1
327
Set off and carry forward of losses
Direct Taxation
answered on 28-Feb-24 20:23
Unabsorbed depreciation and unabsorbed capital expenditure on scientific research given the same treatment of set off and carry forward of losses?
latest answer
Ok
Devisree
CMA Final
★ 0
12
397
Residential status
Indirect Taxation
answered on 25-Feb-24 18:34
Pls explain pt8 Who is receiver, supplier Why it said some of money excl property movable immovable
latest answer
It is deemed to be accrued in India.
Sushmita Chowdhury
CA Inter
★ 2K+
3
302
ILLUSTRATION 12
Financial Management
answered on 28-Feb-24 05:56
Sir, the current ratio is "2:4" but is taken as "2.4".... Is that right?
latest answer
Okay sir. Thank you 😊
Amirtha Kannan
CA Inter
★ 295
6
307
Resident and scope of total income
Direct Taxation
answered on 25-Feb-24 18:14
Mr. Rajesh aged 53 years and his wife , mrs. Sowmya , aged 50 years are citizen of country x . They are living in country x since birth . They are not liable to tax in country x. Both of them have been interested in indan culture . Mr. Rajesh parents and grandparents were born in country x . Mrs. Sowmya visit India along with mr. Rajesh for four months every years to be with her parents , who were born in Delhi and have always lived in Delhi . During their stay in india, they organise cultural program in Delhi ncr . Income of mr. Rajesh and Mrs Sowmya from the Indian source for the py 23-24 is rs. 18 laks and rs. 16lakhs respectively what is the residential status
latest answer
Mrs. Sowmya is a person of Indian origin. So she will come under the special category. Accordingly, solve it.
Bommie R
CA Inter
★ 2K+
1
1K+
Fm MCQs
Others
answered on 25-Feb-24 16:36
Sir please introduce fm MCQs so that we can practice for may 2024
latest answer
yes in progress
Narasimha GL
CA Final
★ 2K+
1
255
Illustration 41 ( 00:14 )
Financial Management
answered on 25-Feb-24 17:38
Dear sir, (Doubt 1) Why are we considering CFBDT of 24 lakhs as the CFBDT for one year, when there is a term mentioned as "during its life" in the third point? The term "during it's life" made me assume that the 24 lakhs is for the entire useful life of the asset and hence for one year the CFBDT would be 4.80 lakhs i.e 24lakhs / 5years. Can you please explain me the meaning of the term "during its life" in the question and how I should consider it. (Doubt 2) : Also sir, why the question gives us an inflation rate of 6% and why is it irrelevant in the computation of NPV? Does it not affect the CFBDT for each year? (As per my assumption: The inflation rate increases the cost of products and hence in the point of view of the company ,won't it be receiving an increment in revenue in each subsequent year?)
latest answer
Thank you for the clarification sir.
Srinidhi
CA Inter
★ 270
2
182
Capital gain
Direct Taxation
answered on 25-Feb-24 18:15
How is this short term gain ? In case of asset destruction what is the period of holding ?
latest answer
Capital gain on depreciable asset is always deemed to be short term as per Section 50.
Swathi Krishna
CA Final
★ 8K+
2
383
Types of financing- Retained earnings
Financial Management
answered on 25-Feb-24 15:21
Are opportunity cost and Idle cost are one and the same. 1)If yes what are the other names for opportunity cost 2)If not what is the difference between the two
latest answer
Thank you sir
Narasimha GL
CA Final
★ 2K+
3
313
Small share holder
Corporate & Other Laws
answered on 26-Feb-24 11:49
What is "not liable to retire by rotation" When the tenure is 3 yrs and reappointment is not possible
latest answer
It states that unless it is provided by the articles of the company, 2/3rd directors are liable to retire by rotation and 1/3rd are liable to retire at every general meeting after the meeting at which first directors are appointed.
Christeena Ambel
CA Final
★ 80
1
330