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Indexation benefits
Direct Taxation
answered on 04-Nov-23 10:05
Do equity shares which are not covered under sec 112A,that is equity shares where no STT paid on acquisition or transfer,has indexation benefits?
latest answer
Thankyou sir
Ramya Nagarajan
CA Final
★ 1K+
5
384
Depreciation
Accountancy
answered on 31-Oct-23 18:07
In this sum What is the depreciation for year3 Because if we apply 25% on WDV basis in year 3, the asset will not be fully depreciated at the end of useful life Because asset has only useful life of 4 years
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Thank a lot sir💯
Krishnan K
CA Inter
★ 5K+
12
545
Amalgamation of company
Accountancy
answered on 28-Oct-23 12:45
Practical question no.4 Why 3000Lakhs is deducted in general reserve
latest answer
Thank you sir.
Shyamala Murugan
CA Final
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4
446
Doubt
Accountancy
answered on 28-Oct-23 12:36
Why bad debts and return inwards are added in credit sales
latest answer
Prepare a ledger account and you will understand.
sai t
CA Foundation
★ 2K+
2
405
Cost accounting system
Costing
answered on 31-Oct-23 08:09
Here , company having a normal production capacity of 60000 units In b point indirect expenses are absorbed on the basis of normal production capacity means ?
latest answer
Variable overheads are always charged at actuals. Absorption is only for fixed overheads. In this question ICAI has assumed that fixed selling overheads are also for normal production capacity.. the assumption is it will sell whatever it produces
Aishwarya Bogadhi
CA Inter
★ 0
4
476
As 12 gov grant
Accountancy
answered on 28-Oct-23 12:40
Doubt 1: Refund happened on beginning of May. So why they didn't provided for depreciation for month of April and then add the refund like I did in my workings.
latest answer
The question itself has given the assumption.
Krishnan K
CA Inter
★ 5K+
1
356
Residential status
Direct Taxation
answered on 28-Oct-23 09:22
Sir you said to ignore concept of leap year . But here they are considering 366 days leap year
latest answer
Mention*
Krishnan K
CA Inter
★ 5K+
2
438
ITC
Indirect Taxation
answered on 28-Oct-23 01:18
TT Pvt. Ltd., registered in Rajasthan, furnished following information for the month of June: (i) Inter-State sale of goods for ` 1,25,000 to JJ Enterprises registered in Haryana (ii) Inter-State purchases of goods from XYZ company, registered in Punjab, for ` 40,000 (iii) Intra-State purchases of goods from RR Traders, registered in Rajasthan, for ` 65,000 All the above amounts are exclusive of taxes. The applicable rates of CGST, SGST and IGST are 9%, 9% and 18% respectively on inward as well as outward supplies. There is no opening balance of ITC. GST liability payable in cash is- (a) CGST ` 1,800 & SGST ` 1,800 (b) SGST ` 3,600 (c) IGST ` 3,600 (d) CGST ` 3,600
latest answer
IGST
Sowmiga Chandrasekaran
CA Inter
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3
1K+
ITC
Indirect Taxation
answered on 28-Oct-23 01:18
Mr. Raghu avails services of Mr. Raja, a Chartered Accountant, as under- (i) Audit of financial accounts of Mr. Raghu ` 55,000 (ii) Tax audit and annual accounts filing of Mr. Raghu ` 10,000 (iii) Income-tax return filing of Mr. Raghu ’s wife (salaried-return) ` 5,000 All the above amounts are exclusive of taxes and the applicable rate of GST on these services is 18%. The accountant of Mr. Raghu has booked the entire expenses of ` 70,000 plus GST in the books of account. Mr. Raghu is eligible to take input tax credit of - (a) ` 13,500 (b) ` 11,700 (c) ` 9,900 (d) ` 1,800
latest answer
ITC of personal exp.is not available hence ITC of (ii) and (ii) is available so Eligible ITC will be 18%of 65,000= 11,700rs ...i hope my explanation will help u
Sowmiga Chandrasekaran
CA Inter
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3
938
Is this official
Others
answered on 31-Oct-23 11:38
Got it from a telegram channel. Is this official?
latest answer
Then it is official
Soon to be CA
CA Inter
★ 4K+
3
560