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Indigo learn Mock Test

Exams

answered on 30-Jun-21 06:31

How to attempt the omr?

latest answer

foxit pdf

siva chaitanya

siva chaitanya

CA Final

8K+

7

282

Deduction

Direct Taxation

answered on 30-Jun-21 13:16

In section 80CCD, on the closure of the account or opting out of the pension scheme, 60% of the withdrawal is exempt then 40% is chargeable under which head of income?

latest answer

Section 17(1)(iii) includes pension and annuity. Section 17(2)(vii) includes NPS contribution as perquisite. Section 17 says "For the purpose of sections 15 and 16" So, for employee, it should be taxable under salaries but if it is not employee then it is taxable under other sources.

Neha Gupta

Neha Gupta

CA Final

4K+

2

302

Whether correct answer is d or e?

Economics

answered on 30-Jun-21 08:06

Capitalist economy uses......... to solve economic problem(D)impersonal forces of market demand and supply.(E)price mechanism.(F)external reports(G)economic theories

latest answer

E happens because of D and not the otherway around

MATURU HAMSA GAYATRI

MATURU HAMSA GAYATRI

CA Final

21K+

3

264

Auditor

Corporate & Other Laws

answered on 29-Jun-21 18:09

An individual is eligible to be an auditor if he is a CA , as per section 141(1). Where is the condition relating to certificate of practice mentioned?

latest answer

The word "chartered Accountant" is defined in section 2(17) which says that chartered accountant is the one who holds valid certificate of practice under the chartered accountants Act. In section 141 and throughout the Companies Act wherever the word chartered accountant is used we will understand it as practicing chartered accountant.

Aman Mahajan

Aman Mahajan

CA Final

19K+

1

258

Auditor

Corporate & Other Laws

answered on 03-Jul-21 18:05

Why canâ??t a company be an auditor of another company?

latest answer

issues of reputation, limited liability, individual responsibility - same reason lawyers are not allowed to form companies for representing cases

Aman Mahajan

Aman Mahajan

CA Final

19K+

3

293

Declaration and payment of dividend

Corporate & Other Laws

answered on 29-Jun-21 18:54

Sir in this question Even though he was not invested why we are taking 100 Rs. As investment

latest answer

Dividend is on face value of shares and not on paid up value

M V Naresh

M V Naresh

CA Final

3K+

1

247

Declaration and payment of dividend

Corporate & Other Laws

answered on 29-Jun-21 17:54

Sir in this question Even though he was not invested why we are taking 100 Rs. As investment

latest answer

Unless there is a provision in the article of association to pay the dividend in proportion to paid up capital, generally the dividend is paid on the full nominal value of the share. ( Section 51) Accordingly here 10% dividend is calculated on the full nominal value for 5000 shares even though the paid up value is less. Reason being there is nothing stated about it in the article of association.

M V Naresh

M V Naresh

CA Final

3K+

1

228

Insurance claims

Accountancy

answered on 29-Jun-21 19:27

In problem no.8 y they calculate upaward trend 15% only for thr last year sales in adjusted annual turnover

latest answer

Ok ji thank you so much

Likhitha Sivani

Likhitha Sivani

CA Inter

14K+

8

234

Mcq

Corporate & Other Laws

answered on 29-Jun-21 19:07

Explanation needed

latest answer

Proxies are not considered for quorum, but authorised representative is. So we have 13 members + Mr. A + Mr. A as authorised rep of ABC Ltd. = 15 i.e. quorum is present

Sathiya Bama

Sathiya Bama

CA Final

23K+

6

279

Amalgamation question

Accountancy

answered on 29-Jun-21 15:11

In this question out of 5,30,000 1,10,000 preference issued at premium 10%... They saying equity shares of vayu ltd issued at 5% premium.... 400000 is the shares and 20000 is the premium.... How cum 400000& 20000 shares

latest answer

20000 is premium not shares...

Triveni Patil

Triveni Patil

CA Inter

290

1

241

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