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Illustration 38 (39 m:40 s)
Financial Management
answered on 25-Feb-24 13:28
Dear sir, why are we not considering 'changes in inventories' as an item with tax implication (39:40), whereas in accountancy, we charge tax against the profit derived after the adjustment of 'changes in inventories'?
latest answer
Thank you sir
Srinidhi
CA Inter
★ 270
2
193
Composition scheme
Indirect Taxation
answered on 25-Feb-24 18:22
SP of goods = 60 (incl tax 5) In composition scheme why we don’t deduct 60-5 = 55 and then pay 1% tax on 55 We do 60x1% why Is it not paying more tax in comp sch
latest answer
In composition there is no concept of including tax or excluding tax. We just have to pay tax @ percentage on sale price. Thats it.
Sushmita Chowdhury
CA Inter
★ 2K+
2
320
Availability
Financial Reporting
answered on 26-Feb-24 12:37
Will this free class be available to watch after February 27?
latest answer
Up to 28th Feb, it is available.
Muhammed Hijaz
CA Final
★ 0
1
287
Set off and carry forward of losses
Direct Taxation
answered on 25-Feb-24 18:23
Losses in other sources cannot carried forward to the next year??
latest answer
No. We cannot.
Devisree
CMA Final
★ 0
1
315
Reporting
Auditing
answered on 25-Feb-24 08:09
Ma'am, if there is event that indicate material uncertainty that cast significant doubt on the entity's ability to continue as going concern, then how do we determine that whether that event is pervasive ?
latest answer
Event cant be pervasive. Pervasive is a term used for a misstatement. Any event which affects going concern, that means the assumption used for preparation of FS is wrong. that will impact overall financial statements. It will have pervasive impact
Swathi Krishna
CA Final
★ 8K+
1
305
General clauses of act
Corporate & Other Laws
answered on 25-Feb-24 16:33
Please Explain this is in simple way
latest answer
When a letter is sent by registered post and the receiver refuses to accept it or is unavailable for many days, the letter is returned to sender with endorsement "Not claimed/Not met". Court says that this even will be treated as proper serving of notice (Unless the receiver can prove other wise)
07- Issac Jolly-XII C
CA Inter
★ 16K+
1
331
Prohibition on current account transactions - schedule 1
Corporate & Other Laws
answered on 25-Feb-24 18:19
What is this commision on export with respect to exports? Please give egs connecting the real life scenarios?
latest answer
Commission on export involves agents who help facilitate the trade which includes commission to export agent and brokers, international sales representative, distributors etc.
Liz James
CA Inter
★ 2K+
1
161
Additional examples
Financial Reporting
answered on 26-Feb-24 19:45
In the first examples, Whether 2 performance obligation? Because it mentioned that entity B solicited bids from the multiple firms on both phases of the production i.e., Construction of shopping Centre and car parking.
latest answer
if separate bids are invited and awarded. However in case of a single complex, both are dependent.
Nivethithaa S
CA Final
★ 2K+
1
165
Set off
Direct Taxation
answered on 25-Feb-24 18:25
Loss in interest on securities can be set off with any other heads of income ??
latest answer
Welcome.
Devisree
CMA Final
★ 0
3
329
COST OF DEBENTURES
Financial Management
answered on 29-Feb-24 00:55
I couldn't find from where did that equity share and ₹12 came from and how is interest of debenture is ₹15? It should be ₹ 10 (10% * ₹100)only right?. And why should we do comparison for determining redemption value?
latest answer
Please post questions and doubts only from ICAI Material/ Our Material
Satha Sivam
CA Final
★ 6K+
1
286