Forums
General doubt
Others
answered on 26-Nov-23 04:55
Sir I am unable concentrate more on studies because of diversions how to control this diversions and focus more on studies because of this diversions I am postponing my exams all the time any tips and suggestions
latest answer
I am unable hive an exam in dec23 because I have already converted from old scheme to new scheme so it Is possible to give exam only in may 2024 I am just scared because of vast syllabus and scared that can I complete the syllabus within time or not
sai t
CA Foundation
★ 2K+
4
475
Classes
Corporate & Other Laws
answered on 27-Nov-23 16:43
When law full and updated classes will be available?
latest answer
Texted you
Abhilash Y
CA Inter
★ 0
14
440
Strategic Tax planning
Direct Taxation
answered on 28-Nov-23 11:26
This might sound insane Suppose A Pvt Ltd company don't want their employees to be taxed so they disallowed any kind of emoluments received (cash or in-kind) by their employees. Which is also the core fundamental idea of the company to inflate it's profit Condition fulfilled by the company 1) whose Turnover in PPY is less than 400 cr (i.e) falling under 25+12%+4% = 29.12% Rates. 2) Files Return on or before the due date 3) Disallowed all expenses made by a company to their employees in the name of salary or whatever name called 4)Company had paid 370*29.12% = 107.744 Crs as tax in total 5) Company Deducts Proportionate tax from employees in the whatever name called and books such deduction as Income in next AY An Employee or group of employees who falls under High Networth Individual each (i.e) falling under MMR @ 42.74% Suppose Employee A whose GTI is 6Cr... 107.744 ÷100*6 = 6.46cr... 6.46 - 6 = 46 lakhs is deducted by the company from employees and booked as profit in the next AY Had the same being taxed for the assessee, he would end up paying 6cr *42.74% = 2.56cr Can this practice be considered as Tax planning for employees by the company? Are these acceptable in the eyes of IT law?
latest answer
Whether the company claims expense or not, income in the hand of receipient is taxable.
Gokul K K
CMA Final
★ 11K+
6
387
SA:220
Auditing
answered on 24-Nov-23 21:37
Sir/Madam , As per SA:220 the quality control review team will review the work done by the engagement partner My Doubt is Whether the members of Quality control team consists Charted Accountants only or members comprising specific degree
latest answer
Quality control team is basically- other partners review the work of Engagement partner. they will be Chartered Accountants. Also, the firm can have its own internally designed policy for Quality control team
Surya Prakash
CA Final
★ 19K+
1
467
Techniques of company analysis
AFM
answered on 25-Nov-23 09:31
What is meant by decision tree analysis in techniques of company analysis?
latest answer
We have solved problems related to decision tree in Advanced capital budgeting decisions. A Similar decision tree is used to evaluate possibilities of a company's performance based on various decisions
SAI CHANDANA KONKA
CA Final
★ 6K+
1
456
Techniques of economic analysis
AFM
answered on 25-Nov-23 09:34
What is economic model buidling approach in techniques of economic analysis??
latest answer
project various components of GNP and use it to Project overall GNP, This model will be helpful for some one to predict the impact of movement in various key factors on over GNP and broader macro economic environment
SAI CHANDANA KONKA
CA Final
★ 6K+
1
401
Exam
Others
answered on 25-Nov-23 15:58
In CA foundation exam should we only use black pen? Is blue pen not allowed? Can anyone please answer this?
latest answer
Thank you so much
Divinne Fiona
CA Inter
★ 9K+
16
2K+
Surcharge on CG for NRI
Direct Taxation
answered on 28-Nov-23 08:35
Is the 15% surcharge applicable for NRI also or only to the residents. i.e There is a NRI selling property for 13 crores in India.what is the surcharge applicable for him
latest answer
Surcharge rate is common for both resident and non resident individuals.
Poojitha Sudharsanam
CA Inter
★ 720
4
420
BRS
Accountancy
answered on 24-Nov-23 13:21
Of the total cheques amounting to ₹12370 drawn in the last week of December 2021 cheques aggregating ₹9360 where encashed in December 2021 How this treatment will be in BRS Please state with reason
latest answer
Understood tq sir
Devi sri K
CA Foundation
★ 7K+
2
554
BRS
Accountancy
answered on 25-Nov-23 04:46
On 20th December 2021 the debit balance of ₹8460 as on the previous day was brought forward as credit balance in the cash book How to account this in BRS Please state with reason
latest answer
Understood tq sir
Devi sri K
CA Foundation
★ 7K+
4
562