Forums

Professional ethics

Auditing

answered 2 days ago

If a CA holding COP and also in employment, refers a lawyer to his employer and lawyer pays him some referral fees then he will be definitely guilty under clause 2 of part 2 of the second schedule, But a CA holding COP shd not be engaged in employment, this also will be wrong know maam

latest answer

In some cases, it is possible with prior permission of the council. (ICAI) like directorship in company, part time employment. Employment should not interfere with practice or have any impact on practice. Council guidelines have also to be adhered.

R Yashwanth Kumar

R Yashwanth Kumar

CA Final

63K+

1

21

Income Tax on NRI A/C

Direct Taxation

answered 1 day ago

Dear Sir, A person who is employed outside India and he is sending his salary from out side India to his NRI a/c in India. If I am not wrong this income is accrued out side India but RECEIVED in India. Then why is it not being taxed in Inia sir. ? Please guide me sir.

latest answer

The direct deposit in NRI A/c (VOSTRO or NOSTRO), It will be treated as remittance of income. But not considered as Income received in INDIA.

Thankachan Jimmy

Thankachan Jimmy

CMA Inter

0

1

28

Practitioner's Report Format - SRE 2400/ 2410

Auditing

answered 2 days ago

As per Module, Conclusion para comes before Basis for conclusion para, whereas in Bare SA's illustrative reports, Basis for Conclusion is placed before the conclusion para. Which one is correct?

latest answer

It has to be conclusion and then basis for conclusion .

Himanshu Somani

Himanshu Somani

CA Final

73K+

1

27

Dilutive shares arising due to ESOP

Financial Reporting

asked on 22-May-24 23:13

Hi Sir, When calculating dilutive shares arising from outstanding options as of the reporting date, it's assumed that all options will be converted, and equivalent shares for weighted average options outstanding (against which consideration will not be received) are considered in the denominator. However, why isn't the unamortized option cost (e.g., ESOP charge) reduced in the numerator? This cost, which will be allocated in future periods, is to be booked upfront now (for purpose of DEPS calculation) as we're assuming all outstanding options are exercised. While it's understood that there won't be any savings resulting from such conversion, there are future costs associated with it.

latest answer

No answers yet!!

SravaN KumaR

SravaN KumaR

CA Final

5K+

0

22

Syllabus related

Indirect Taxation

answered 2 days ago

Hi Sir - is baggage chp in portion for Nov-24? cant find in module. Also, wanted to confirm if the course if fully updated for Nov-24?

latest answer

Welcome. All the best.

Priyanka Udeshi

Priyanka Udeshi

CA Final

14K+

4

31

Journal Entry

Accountancy

answered 2 days ago

1.What is the journal entry should be passed for loss of stock in Tally? 2. What should be the closing stock entry of trading account?

latest answer

What kind of answer is this?

Snehashis Mohanty

Snehashis Mohanty

CA Inter

5

1

41

Value of GST

Indirect Taxation

answered on 22-May-24 20:35

Is this deductible or not u/s 15(3)(b) In study material solution it is stated as not deductible why?

latest answer

Yes, it is not deductible - post supply discount is not deductible from the value of supply.

Mainak Chakraborty

Mainak Chakraborty

CA Inter

0

1

28

Value of call option

AFM

answered on 22-May-24 13:46

Hi sir, in 2, you said value of call option is ZERO. is value of call option means (St - K) ? and please help me with understanding of the following words, correct me if i am wrong : 1.Option price/ Option value means Premium of the option 2.Expected value of option means the expected pay off and rationally we should charge the premium that is equal to expected value of option

latest answer

Value of option on a day = premium = PV of Expected value of Payoffs = Intrinsic Value + Time value Day can be anything from 0 to maturity date On day zero-time value component is high and on maturity date intrinsic value component is high

B. Dinesh

B. Dinesh

CA Final

3K+

3

31

Expected Price method

AFM

answered on 22-May-24 12:34

Hi sir, in lecture no. 77 -option pricing you told to do based on expected value method, and bring them to present value. attaching the screen shot. can you help me to understand when to do this kind of problem in Binomial method and when to do in Expected value method ? or can we take assumption and do it as per our convenience ?

latest answer

Question will be very specific about binomial. Also in binomial there are only 2 movements not so many expected values

B. Dinesh

B. Dinesh

CA Final

3K+

1

20

SELF PACED MODULES

Others

answered on 22-May-24 17:56

Hello, I have completed CA Inter under the old scheme of 8 papers. Do I still have to do Set A and Set B of the self paced modules?

latest answer

Yes

Irfanah Ilias

Irfanah Ilias

CA Final

29K+

2

46

MCQs Now