Forums
Section 36(1)(iv)
Direct Taxation
answered on 02-Apr-21 12:47
Will the deduction be allowed for the total amount of contribution made even if it is higher than the prescribed amount In case of RPF - Normal contribution -12%..if contribution made in excess of 12% also can be claimed as deduction?
latest answer
No
sai krishna teja
CA Inter
★ 940
1
233
Fainal account
Accountancy
answered on 02-Apr-21 08:27
In fainal account why we put adjustment profit and loss account as well as Balance sheet.
latest answer
Double entry impact
subham sahoo
CA Foundation
★ 270
1
231
Zoom
Others
answered on 02-Apr-21 15:02
Sir in zoom meeting fr asking doub?
latest answer
Today its for Foundation IL students
Nivetharaman Raman
CA Inter
★ 11K+
5
249
Recertification entry
Accountancy
answered on 01-Apr-21 23:07
Won't this omission be shown in cash book after knowing ?? In book ,it s shown only in discount allowed account.
latest answer
Sorry wrongly posted, no answer required
Reetikaa R
CA Inter
★ 7K+
1
204
Doubt
Accountancy
answered on 02-Apr-21 14:42
Sir Cogs=os+purchases-closing stock -sales Or below screenshot is correct please advise me sir
latest answer
Refer to page no 7.6
sai t
CA Foundation
★ 2K+
15
205
Doubt
Accountancy
answered on 02-Apr-21 22:21
I couldn't get the answer for the adjustment encircled(in image) ,I got ans as 18000 but it is 20000 pls help me to get clarity
latest answer
Ok sir now I understood thank u
Sri kanaga Varshini
CA Final
★ 3K+
6
268
Journal
Accountancy
answered on 02-Apr-21 11:36
What is the entry for Cheque collected from Q â?¹500 and deposited for clearance
latest answer
Bank a/c Dr.. To Q's a/c
Reetikaa R
CA Inter
★ 7K+
2
181
Contract of guarantee
Corporate & Other Laws
answered on 02-Apr-21 21:21
Sir /madam, if debtor fails to pay money to creditor then surety is liable to pay to creditor for that amount but still surety can recover that amount from debtor because there is implied contract of indemnity between surety and debtor. Incase if the principal debtor is a minor and that minor fails to pay to creditor so surety paid that amount to creditor. Can a surety recover that amount from minor debtor ? Is there still a implied contract of indemnity between surety and minor debtor?
latest answer
Thank you sir
Balamurugan V
CA Final
★ 52K+
2
209
Statutory reserves
Accountancy
answered on 03-Apr-21 12:44
What is a statutory reserve and why cannot we create statutory reserves when two companies are amalgamated?
latest answer
Amalgamation adjustment reserve is debited to bring in the statutory reserves of the transferor company. There is no creation of statutory reserves, it is transferred as per the rule
Rithani R.C
CA Inter
★ 4K+
3
238
Statutory reserves
Direct Taxation
answered on 02-Apr-21 15:03
What are the tax benefits of creating statutory reserves?
latest answer
One can claim deduction only if the reserve is created as per the conditions specified in that particular section. Eg: 36(1)(viii)
Rithani R.C
CA Inter
★ 4K+
2
263
