Residential status qstn 9 Geetha and leena

answered on 28-Jan-24 18:05

Y income from profession in Malaysia set up in India is not considered income accrued in india

latest answer

Since Geetha is a Non resident. In case of non resident, only Indian income is taxable.

1 Minute Review

CA Inter

★ 405

3

443

Ordering books

answered on 23-Jan-24 22:37

While ordering books in cds portal continuously payment is declining.is there anybody facing the same prblm as i am facing it?

latest answer

Order complete ayindi👍🏻

Ujwal Reddy

CA Inter

★ 7K+

14

457

FEMA: Repatriation of foreign exchange

answered on 27-Jan-24 08:22

What does the phrase: he can't hold on to foreign funds, mean here? Since he received the foreign funds in his bank in India from his uncle in US, it means those funds would've come to India anyways. Then why it is mentioned that he can't hold on to foreign funds and he needs to repatriate them back to India?

latest answer

A person cannot hold foreign currency beyond a limit and the foreign funds which are realised by him shall be repatriated in any manner which is provided under section 8 of FEMA.

Garima Bhargava

CA Inter

★ 185

1

366

Treatment of expenses on accrual basis

answered on 26-Jan-24 16:32

If salary or rent for current month becomes due on 1st of next month and is payable by 7th of next month. Then as at 31st of current month, will there be a present obligation, and should this be treated as liability as at 31st of current month? These become due on next month due to contract (legal form) and we have enjoyed using the asset or received service of employee (substance). Should we use substance over legal form and conclude there exists a liability as at 31st? or Is there no liability as at 31st? Thanks :)

latest answer

You will create a liability on 31st itself. There are two aspects - Accrual and due. Salary is accrued as on 31st and it falls due on 1st.

Vignesh Venkatesan

CA Final

★ 5

1

442

Dividends

answered on 28-Jan-24 18:03

Under which head the dividend from securities held as stock in trade is charged to tax? PGBP/OS?

latest answer

Specific head of income prevails normally. That is why it is HP. However, if the assessee business itself is giving properties on rent then it is taxable under PGBP.

Monisha KM

CA Inter

★ 825

16

487

CA Final - Split between Theory and Problem Oriented Computation based MCQs

answered on 26-Jan-24 08:54

Dear Sirs, Clarifications required on MCQs in FR and AFM. 1. Will the entire 30 marks be based on Case study or single MCQs will also be questioned in FR and AFM. In Auditing, previously there used to be both single MCQs and case study based MCQs. 2. If there are going to be computation based MCQs in FR and AFM, then the balance 70 marks might contain a very few Ind AS and other Theory based questions in FR and similarly concept based questions in AFM. 3. However, if there are going to be more Theory based MCQs, then the balance 70 marks might not have that many Theory questions. Would be great if you could also gather some information on this, Sirs.

latest answer

Okay, thanks Sir.

Dheebhan Mahalingam T

CA Final

★ 21K+

2

507

Plse tell me the last due date

answered on 23-Jan-24 11:36

Iam a old existing schem of CA inter ,so what is the Due date to convert to new scheme Applicable may 24??

latest answer

welcome

MPR Sanjay Kumar

CA Inter

★ 530

3

401

SMALL MISTAKE IN CONTENT OF THE VIDEO

answered on 23-Jan-24 09:00

I I'm writing to bring your attention to a small issue I encountered while watching one of the video lectures on our course platform. The Video No:31 in the topic of salaries, Time Stamp (12:54).It appears there might be a mistake in the content presented in the video. The video content states that 7.5% Of Salary but sir is telling 15% of salary or actual hire charges whichever is lower. I have also referred the study materials content shown in video is inapporiate. I believe this could potentially lead to confusion for other students who are relying on these lectures for their understanding of the topic. I thought it would be helpful to bring this to your attention so that it can be addressed and corrected. Please let me know if my understanding is incorrect or if there's something I've missed. I appreciate all the effort you put into these lectures and I'm really enjoying the course so far. Thank you for your time and consideration.

latest answer

Thankyou. We will rectify it.

STEPHENRAJ MESSACH

CA Inter

★ 14K+

1

189

SMALL MISTAKE IN CONTENT PRESENTED

answered on 23-Jan-24 09:02

I hope this message finds you well. I'm writing to bring your attention to a small issue I encountered while watching one of the video lectures on our course platform. The Video No:31 in the topic of salaries Time Stamp (11.04).It appears there might be a mistake in the content presented in the video. The lecture states that DP Instead of Showing DA.I believe this could potentially lead to confusion for other students who are relying on these lectures for their understanding of the topic. I thought it would be helpful to bring this to your attention so that it can be addressed and corrected. Please let me know if my understanding is incorrect or if there's something I've missed. I appreciate all the effort you put into these lectures and I'm really enjoying the course so far. Thank you for your time and consideration.

latest answer

Thankyou for bringing it to our attention. We will rectify it.

STEPHENRAJ MESSACH

CA Inter

★ 14K+

1

178

Capital gain

answered on 24-Jan-24 21:23

Got bonus share on 1/7/2017 5000rs Sold 23-24 at 12000rs Will 5000rs get indexation benefit ? Why 12000rs is not capital gain fully and we deduct a cost that’s not incurred

latest answer

Don't worry you won't come across such problems where bonus shares issued before 1.4.01..just ignore Know what is STCA and LTCA ..when indexation applicable and different tax rates under 111 and 112 , 112 ..which section applies when First build strong based then slowly move to advanced thinking without any confusion

Sushmita Chowdhury

CA Inter

★ 2K+

14

537