Interest on margin trading

answered 2 days ago

Is interest on margin trading dedutable under capital gains as expenses..?

latest answer

Interest paid towards Margin trading can be claimed as an expense if you are reporting your share trading as business income. However, if you report profits from swing trading as capital gains and pay tax as short-term capital gains (STCG) or long-term capital gains (LTCG), then the interest cannot be claimed to reduce the profit.

Shru Kanda

CA Inter

★ 610

1

24

Slab rate

answered 2 days ago

Sir what is difference btw tax rate and slab rates?

latest answer

Tax rate is the % of tax that a person can pay on his income Slab rates are the ranges of income and the rate that is applicable.

Ajaykumar Parit

CA Foundation

★ 140

1

28

Budget

answered 1 day ago

Why they taken actual data for flexible budgeted ?? What is static budget?

latest answer

Static budget means a fixed budget. When preparing a flexible budget we take the actual number of units and re state all numbers. Fixed cost remains same irrespective of the level of activity. For this reason fixed cost is taken as appearing in static budget

Devisree

CMA Inter

★ 0

3

36

MTP Series ii - Mutual Funds Q

answered on 22-Apr-24 18:23

Question - 5(b) of AFM MTP Series ii Please explain the logic of using NPV to compute effective yield and how the PV of cash inflows have been calculated in computing NPV

latest answer

Thank you sir, very well explained.

Vish

CA Final

★ 5K+

2

37

Financial Statements - Illustration 2

answered 1 day ago

Hi Sir, As You were explaining about the Reissue of Forfeited Shares of above mentioned illustration, it is being mentioned in the Question that The reissue has been done at the Rs. 90, however, the face value of share is Rs. 100. Therefore, I request your kind self to explain about the legibility of Issuing forfeited share less than Face Value.

latest answer

Since its already issued and you have collected amount at time of first issue, it is allowed.

Aakash Raj

CA Inter

★ 0

1

27

Macaulay's Duration

answered on 22-Apr-24 15:34

Here at the end of the year , we are multiplying the cashflows with year and then discounting with PVF, got 464.65 . In the previous illustration 1, we are compounting bond period by multiplying propotionate value with no of years.. Please clarify why we are doing so

latest answer

Both are same are they not? can you please put it down ( that is both methods) on an excel sheet or a piece of paper have a look for say a 2 year bond instead of a 5 or 7 year bond?

Rahul Kumar

CA Final

★ 2K+

1

26

Articleship Registration

answered on 22-Apr-24 14:49

When I try to submit my form it is showing like this, I even tried multiple times but the same is appearing. Can you suggest me a solution for this

latest answer

Sir can you explain in detail

Bumble Bee

CA Final

★ 3K+

2

44

Discounted payback period

answered 2 days ago

Sir as you said, last year CFAT and TMCI should be written separately to calculate the discounted payback period and in ICAI material last year CFAT and TMCI taken combinely . SO WHAT SHOULD WE FOLLOW IN EXAM TO GET MAXIMUM MARKS.

latest answer

Please follow ICAI method only in the examination

Narasimha G

CA Inter

★ 2K+

1

45

PGBP

answered on 22-Apr-24 09:28

In this sum why interest on captial is reduced from Net profit while computing book profit.. interest on capital maximum 12% p.a is disallowed right as per Sec 40(b) then we have to add only right ? Excess 12% is not added because it is not debited to profit and loss account..but y upto12% is reduced...? And in this question allowable working partner salary is Rs .384000..is that is disallowed that is added to net profit for computation of PGBP?

latest answer

If excess interest is debited to PL then excess is added back. However, if interest amount is not taken in PL at all then 12% shall be reduced. Kindly apply the logic. In case of salary to partners, whatever is debited to PL that will be added back. From book profit, if we reduce remuneration allowable to partner we will get the answer of taxable income under PGBP.

Lavi Lavanya

CA Inter

★ 6K+

2

67

doubt regarding assumption taken in question

asked on 21-Apr-24 22:58

works cost is assumed to be equal to the cost of good sold under the assumption that the opening & closing value of both wip and finished goods is not given in the question, but the value of closing stock of finished goods is given in the question, and is also computed later on by sir at 6 % of the works cost,so isn't this assumption worng?

latest answer

No answers yet!!

aravind lalji

CA Inter

★ 0

0

41