Forums
TIME OF SUPPLY
Indirect Taxation
answered on 19-Feb-24 16:12
Goods are sent on approval for sale or return before or at the time of supply or 6 months from the date of removal, whichever is earlier for consignment good is apply for this concept sir
latest answer
Welcome.
Rajasekaran R D
CA Inter
★ 1K+
3
368
Selling exp As 2
Accountancy
answered on 20-Feb-24 18:58
Selling expense is credited to pl why ?
latest answer
They are crediting amount received from sale of containers.
Sushmita Chowdhury
CA Inter
★ 2K+
5
337
Time of supply
Indirect Taxation
answered on 19-Feb-24 15:36
why sir we are not taken 12. jan we are takingg 18 jan because 12 th jan is come earlier ?
latest answer
Check again. Refer the provisions of the Section 12 and then decide. In case of goods, TOS is date of invoice. Actual DOI or last date when invoice is ought to have been issued under Section 31 whichever is earlier.
Rajasekaran R D
CA Inter
★ 1K+
1
439
IFHP/Total income
Direct Taxation
answered on 19-Feb-24 15:55
If rental income from let out property is given then we have to deduct, 30% std. Deduction or it's already been deducted???
latest answer
If rental income is given then we need to deduct standard deduction @30% as per Section 24(a).
Nikhil Tiwari
CA Final
★ 16K+
2
352
RENTING OF MOTOR VEHICLE FOR CARRY PASSENGERS
Indirect Taxation
answered on 23-Feb-24 13:04
Can such service provider opt to pay FCM @5% or 12%.
latest answer
Yes right.
07- Issac Jolly-XII C
CA Inter
★ 16K+
3
314
Amendment's
Indirect Taxation
answered on 19-Feb-24 11:33
Shiva teja sir... Could you please make a video comprises of all amendments applicable for may 24 exam or give a pdf consist of all.... Or anyone help me out?
latest answer
thanks Sir
07- Issac Jolly-XII C
CA Inter
★ 16K+
6
383
Doubt
Financial Management
answered on 19-Feb-24 12:43
I don’t understand why interest is for 3months ..haven’t we already divided the amount of trade receivables by 4 to get 3L?if we divide again isn’t it double effect ?
latest answer
Because the cycle is only 3 months the interest is also correspondingly reduced.. Alternatively compute the interest for full year and divide that value by 4(since it is payable for 3 months) you will arrive at the same value
SANSKRITI BADRI 2111339
CA Final
★ 4K+
1
216
Risk Assessment and Internal Control
Auditing
answered on 22-Feb-24 10:05
could you please explain the risk at Financial statement level and assertion level in simpler terms with an example?
latest answer
Financial statement level means a misstatement that has pervasive effect on the overall financial statements. For eg: inappropriate assumption of going concern. this will make the overall financial statements wrong. accounting policies chosen are inappropriate. this will have impact on many assertions together. Assertion level is where a misstatement is affecting only a particular transaction or account balance. On Purchases, if controls are not good, there is a risk that purchases could be misstated.
Roobashree Rajagopal
CA Inter
★ 1K+
1
343
Composition levy scheme
Direct Taxation
answered on 19-Feb-24 15:52
If the person in fy is a composition levy scheme tax payer but in fy itself that persons turnover limit exceeds.... Then what are the after effects!!
latest answer
Once he exceeds the limit, he should pay normal tax rate and issue tax invoices. Further, he can claim ITC on the stock.
07- Issac Jolly-XII C
CA Inter
★ 16K+
4
329
MCQ
Financial Management
answered on 20-Feb-24 07:31
when will you update MCQ's for new course especially for financial management.
latest answer
Thankyou sir
Elavarasi B
CA Inter
★ 46K+
3
352