Capital gains

answered on 16-Sep-21 07:07

Please explain

latest answer

As denominator for indexation we will take CII of the year in which the asset was held by the assessee(acquired after 01/04/2001) or else if it acquired before 01/04/2001 we will take 100 as CII, because the base year is 2001. Next point is if we got the asset as from previous owner mentioned in sec 49(1)... Then also same will applicable... I.e. CII of the first year in which the current owner transfers the asset. But can take benefit of case law... Manjula j shah vs CIT... that is CII in which the previous owner first holding the asset can take (if he acquires after 01/04/2001) or else is 100 as CII (if he acquires asset before 01/04/2021)

Mahi Yadav

CA Inter

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1

283

Cash Flow

answered on 17-Sep-21 11:10

In Cash flow Statement what will be the classification of 'receipt of grant for capital projects'

latest answer

No, not anything which is relevant at Inter level. While in practice, one can find certain items treated differently in US GAAP and IFRS like dividend received.

Priyanka Udeshi

CA Final

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5

306

Articleship

answered on 16-Sep-21 12:34

If I Don't start my articleship immediately after clearing both groups of inter , will I be not allowed to join firm for 6 months ??

latest answer

There is no such rules

Reetikaa R

CA Inter

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1

249

Need help

answered on 16-Sep-21 11:09

If i start ca Inter prepration from dec 21 for may 22 Would i Be able Yo clear My Ca Inter Grp 1

latest answer

Use IL study planner to see how you need to schedule your time. Nothing is impossible. But there is no short cut.

Vbiopm Lkj

CA Foundation

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13

316

Bck

answered on 16-Sep-21 02:47

Can you explain the picture in that 40 th question pls

latest answer

Techno and govt are external ,not internal

Balachandar S

CA Inter

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3

275

Return of income

answered on 16-Sep-21 00:16

What is difference between revised return u/s 139(5) and defective return u/s 139(9)?

latest answer

Rectification of mistakes

Sri Yoga Vishwa. P

CA Final

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6

249

Exam query

answered on 19-Sep-21 23:00

I am direct entry student ..can i apply for inter may 22 now ?

latest answer

Thank you

Siri S

CS Executive

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2

316

Return of income

answered on 16-Sep-21 10:23

co operative society and local authority are required to file a return of income? If so, then is there any conditions?

latest answer

They are taxable as per the rates given in income tax act.

Sri Yoga Vishwa. P

CA Final

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1

251

Bck

answered on 15-Sep-21 16:59

What is privatisation, globalisation and liberalization ... And also for each one any example also pls

latest answer

Privatisation - Increasing role of private sector companies and the reduced role of public sector (govt. run) companies. Ex: disinvestment by govt., govt ownership transferred to private sector players Globalisation - integrate the economy of one country with the global economy, turning world into one large economy. Ex: Outsourcing of businesses across countries, BPOs Liberilisation - Removing restrictions or loosening govt. control on various issues of business. Ex: removing requirement of license from govt.

Balachandar S

CA Inter

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1

289

Dividend decisions

answered on 15-Sep-21 16:49

Can you please explain assignment problem no7 as per icai book?

latest answer

Use the formula P = D0 (1+g)/ Ke -g D0 = present dividend = 2 g in three scenarios = 5% , 8%, 3% ke = 15%= 0.15

satya nagulapalli

CA Inter

★ 150

4

323