44AD applicability?

answered on 28-Mar-22 15:53

Can we opt for 44AD during current year if ITR filed under 3CD in previous year??

latest answer

If the assessee had not opted for 44AD earlier ( 5 year rule), then he can opt for 44AD

Sagar Medaboyina

CA Inter

★ 0

5

210

Intangible asset vs goodwill

answered on 07-Apr-22 07:31

Are they both same? As intangible assets definition says it to be identifiable..Goodwill is not identifiable..so aren't they both are same??

latest answer

As14 IndAs 103

vasabattula abhinav

CA Final

★ 85

8

162

Finder of goods

answered on 28-Mar-22 09:39

According to section 169 the finder of goods can sell if the thing is in danger of perishing or losing the greater part of the value. My doubt is, Whether the finder of goods can keep the income from sale Or Need to return the income to the respectful owner When the owner of goods is found after sale

latest answer

Thank you mam

Harish G

CA Inter

★ 2K+

2

219

Surety

answered on 28-Mar-22 14:21

If there are 3 co-sureties X,Y,Z agreed in ratio 5:3:2 towards debt of 10,000 by A to B. B discharges Y Doubt: Now what is the ratio of X and Z

latest answer

Thank you mam

Harish G

CA Inter

★ 2K+

2

209

Small doubt.......

answered on 28-Mar-22 09:34

Can anyone say....pls....... Journal is recorded as per chronological order that means=date wise........ Ledger is recorded as per analytical order that means what.....?????????

latest answer

Thanks mam and all of you.....

Balachandar S

CA Inter

★ 59K+

7

236

RECTIFICATION OF NAME OF COMPANY [SECTION 16]

answered on 28-Mar-22 10:11

ma'am why the company need to adopt an Ordinary Resolution in sec 16 (1) (a) ? 1. The CG directed the company to change the name (that the company need mandatorily change the name ? ) 2.If in the Ordinary Resolution the vote cast in favour is less than 50% , then the company need to change the name as per sec 16(1)(a) ? can company do so ? If no then why the company need to conduct an ordinary resolution for the purpose .

latest answer

Thanks ma'am Doubt cleared

Muhammed Salih

CA Inter

★ 14K+

2

213

Revocation of contract of guarantee by notice

answered on 27-Mar-22 22:27

Whether specific guarantee can also be revoked by surety by giving notice?

latest answer

Thank you sir

Nivedha Balaji

CA Inter

★ 9K+

2

162

Concept of money supply unit 2

answered on 27-Mar-22 21:51

In this sum while calculating M1 why other deposits with reserve bank is not taken?

latest answer

Oh ok got it thanks a lot ð???

V U Lakshmi

CA Final

★ 0

2

184

GST TURNOVER

answered on 28-Mar-22 09:53

In case of Government contracts, w/h contract amount is considered as turnover? Example suppose i got a govt contract of to build one building for goverment for 60laks.is turnover is 60laks

latest answer

Yes The Works Contracts has been defined in Section 2(119) of the CGST Act, 2017 as â??works contractâ?? means a contract for building, construction, fabrication, completion, erection, installation, fitting out, improvement, modification, repair, maintenance, renovation, alteration or commissioning of any immovable property wherein transfer of property in goods (whether as goods or in some other form) is involved in the execution of such contract.â?? As per Para 6 (a) of Schedule II to the CGST Act, 2017, works contracts as defined in section 2(119) of the CGST Act, 2017 shall be treated as a supply of services.

manohar reddy

CA Final

★ 710

2

233

GST TURNOVER

answered on 28-Mar-22 10:00

Is government grant part of turnover

latest answer

As per valuation rules, subsidy from CG or SG is not considered in determining value of supply However, for aggregate turnover as per strict interpretation answer is Yes. Aggregate turnover covers all taxable, exempt, inter state and exports on All India basis under same PAN. Trust this clarifies !

manohar reddy

CA Final

★ 710

1

187