Presumptive

answered 1 day ago

Hi sir/madam i have a query on direct tax Mr.X is following presumptive taxation last few years and for this AY his turnover is 1,00,25000 and this AY also under presumptive coz of less than 2cr and the doubt is his online receipt is 30℅ and cash receipts is 70℅ can he file his return for 8℅ of total turnover of cash receipts and 6℅ of total turnover for online receipts as per 44ad

latest answer

If turnover does not exceed 2 crore then he can go for 44AD.

kalai vani

CA Inter

★ 1K+

1

28

India Definition

answered 1 day ago

Seabed and Subsoil Underlying such Water, Continental Shelf, any Other Maritime Zone (Any Distance There)

latest answer

It means that soil under the sea is also part of India. Exclusive economic zone is upto 200 Nautical miles.

ajith kumar

CA Inter

★ 840

2

36

Sec 52 uses of security premium

answered 18 hrs ago

According to section 52 security premium can only be used for the purpose mentioned therein which does not includes working capital requirements but many companies uses the proceeds of issue of share including premium for their working capital requirements how company do this

latest answer

Yes mam got it , sec 52 is only for the case where security premium ac is debited

Atharv Sankliya

CA Inter

★ 3K+

9

51

MCQ doubt

answered 2 days ago

Sir, international financial management MCQ 10...in case of issue price floatation cost is not considered in icai sm... should we consider it sir ?? Has icai wrongly computed the issue price?

latest answer

Thank you sir .

sai pramod

CA Final

★ 31K+

2

40

Probability

answered 2 days ago

Please explain calculator functions for expected value,variance and S.D

latest answer

Pls go through calculator video in introduction modules

Swetha Saravanan

CFA L1

★ 0

1

18

Due attempt for CA final

answered 2 days ago

If we pass CA inter either in Sept 24 or Jan 25 does the CA final attempt fall in Nov 2027 taking in all the 6 month study period falling after completion of 2 years of articles ? Also in those 6 months study period ,should we have to finish other mandatory courses self paced modules, Advanced ITT and orientation or after finishing all these courses only 6 months is calculated ?

latest answer

Cutoff date to start articleship is 30th April 2025. Final attempt is dependent on articleship SPOM you can do alongside Articleship

Harish Chandar T

CA Inter

★ 5

1

60

Old tax regime

answered 2 days ago

In 1 or 2 years if the old tax regime cease to exist then there wouldn't be a concept of Deduction,Intexation right?

latest answer

Yes, but there will be achange in laws and amendments that needs to follow

Dhakshana Dhakshana

CFA L1

★ 18K+

1

45

SA 315 & Other Topics

answered 20 hrs ago

Dear Mam, Is there any other material is using for teaching Audit Paper ? If suppose kindly provide the same. Because some of the concepts & topics were not found in the provided material. Ex : Significant Risk areas in SA 315 Matters to be included in Letter of Weakness Risks in CIS Environment - SA 315 Awaiting for your assistance.

latest answer

Significant risk is covered in standard. IT related risk is covered in Automated environment

Sathiyanarayanan P

CA Final

★ 6K+

4

47

General Doubt regarding Exam

answered 2 days ago

Sir, in the exam, if they do not specify the Method to be used (Direct/Indirect), which one should we use?

latest answer

Indirect. Mostly with given info you will understand

Antara MuraliKrishnan

CA Final

★ 3K+

1

45

ill 26

answered 22 hrs ago

sir the no of years getting confused . can u explain once how it is 4years not 3years

latest answer

Commencing three years later from the end of first phase. So after 1 year - 3 more years.

HEMAVATHYSUBRAMANI SUBRAMANI

CA Final

★ 2K+

1

29