Forward rate

answered 2 days ago

Can we directly calculate Forward Rate by, F2= (1+YTM of 2 year bond)^2 / (1+YTM of 1 year bond) F3= (1+YTM of 3 year bond)^3 / (1+YTM of 1 year bond)^2 and likewise for the remaining?

latest answer

Yes

Durai Murugan

CA Final

★ 465

3

31

Presentation currency

answered 17 hrs ago

How is INR the presentation currency in India? Can I prepare my financial statements in other than INR?

latest answer

for statutory compliance purpose, it has to be in INR>

Suresh Avinash

CA Final

★ 3K+

3

27

AS 10

answered 2 days ago

If an asset is purchased by a company and the vendor only paid 80% value of the asset and vendor also certified that no any dues from such company. In this case how should a company recognise that 20% value in the books of the company and up to what extent the company has to capitalise such assets?

latest answer

Both Accounting standards prescribe this.

Gopichand Annamadasu

CA Inter

★ 130

3

40

Market premium %

answered 2 days ago

To calculate Market premium %, should we use Market Premium/Price of convertible debenture or Market Premium/Conversion value? Market Premium/Price of convertible debenture is logical because Price of convertible debenture is a done outflow.

latest answer

Thankyou sir

Durai Murugan

CA Final

★ 465

4

61

Cricket person

answered on 23-Jul-24 21:14

Can cricket person having professional income make use of section 44ADA (presumptive income)

latest answer

Only the professionals engaged in following professions are eligible: Interior decorations Engineering Technical consulting Accounting Medical Legal Architecture Movie artists (including producers, actors, editors, directors, art directors, dance directors, music directors, cameramen, lyricists, story writers, singers, costume designers, and dialogue or screenplay writers) Authorised representative Other professionals specified by the Central Board of Direct Taxes

GOKULA LAKSHMI

CA Final

★ 20K+

1

40

Accounting for branches

asked on 23-Jul-24 19:18

what exactly means branch current account in this question?

latest answer

No answers yet!!

Niveta Rajkumar

CA Inter

★ 1K+

0

36

BUDGET 2024

answered on 23-Jul-24 21:11

Tax Slab rates as updated on 23-07-2024 ( BUDGET 2024 ) applicable in Which Attempt / Please State FY As well ?

latest answer

Applicable from MAY 25 ATTEMPT

naresh chandran

CA Final

★ 3K+

2

53

TDS

answered 21 hrs ago

Why non monetary perquisites is added to total salary in computation of tax liability in this sum. Is it not that employees don't need to pay tax on it and only the employers are liable to pay for it?

latest answer

If employer pays tax on non monetary perquisites then such tax amount would be exempt as per Section 10(10CC).

Niveta Rajkumar

CA Inter

★ 1K+

2

44

Accounting for branches

answered on 24-Jul-24 05:02

In this question why aren't we crediting receipts from sundry debtors to branch p and l account.

latest answer

Because it forms part of branch stock account which is credited to the branch profit and loss account

Niveta Rajkumar

CA Inter

★ 1K+

1

38

Chapter 2- Residence and scope of total income.

answered on 24-Jul-24 08:11

7. illustration 3 – Date of joining the ship and date of signing off , both the date to be excluded i.e. 6th June and 9th December to be excluded while computing number of days. So, we have to start counting dates from 7th and count upto 8th December. But in solving the problem both days are included. Please verify and clarify whether I am correct or not.

latest answer

For counting total number of days spent on ship both the signing in and off is included And to find out total number of days stayed in india , we will deduct above number from 365 days

NAGARAJA B.R.

CA Inter

★ 2K+

1

38