Forums
Sec 54
Direct Taxation
answered on 27-Apr-23 16:34
If a assessee paid the whole bill of constructing a residential property (in the year in which the old residential property is sold ) but the construction of new building will complete in 5 yr so does the assessee get the exemption of section 54 ?
latest answer
No it should be constructed within a period of 3 years after the date of transfer
Atharv Sankliya
CA Inter
★ 3K+
1
151
Depreciation as per schedule 3
Accountancy
answered on 27-Apr-23 14:47
Definition of Depreciation as per schedule 3 A systematic allocation of depreciable amount of an asset over it's useful life Definition of the same as per many website and authors The monetary value of an asset decreases over time due to use, wear and tear or obsolescence. This decrease is measured as depreciation My query is which definition is correct and appropriate and does the 2 nd definition is also derived from the 1 st one??
latest answer
From a pure accounting perspective, the cost of asset is allocated over time as expense.
Atharv Sankliya
CA Inter
★ 3K+
2
160
Material costing
Costing
answered on 27-Apr-23 21:52
In this question how do we know whether shortage is normal or abnormal loss ?
latest answer
Ok sir
SANSKRITI BADRI 2111339
CA Inter
★ 2K+
11
269
Total income
Direct Taxation
answered on 29-Apr-23 10:56
Can someone explain how to treat bad debt adjustment .. I don’t understand
latest answer
Got it mam thank you
SANSKRITI BADRI 2111339
CA Inter
★ 2K+
6
254
Residential status
Direct Taxation
answered on 29-Apr-23 10:46
In qsn 21 does intrst chargeable in B's hands is taxable in India
latest answer
No Both are non-residents non-resident person is chargeable to tax to the extent income accrues or arises through a business connection in India or from any asset or source of income located in India, and to the extent such income is attributable to the operations carried out in India. Neither the asset or source of income is india
Neha
CMA Final
★ 3K+
6
162
Residential status
Direct Taxation
answered on 27-Apr-23 10:58
In qsn 13 Is the huf is resident or non resident
latest answer
As Business decisions partly taken from India , it is Resident in India and Karta satisfies conditions for Resident and Ordinary resident aswell , HUF is ROR in India.
Neha
CMA Final
★ 3K+
1
152
Exam center
Exams
asked on 27-Apr-23 08:17
Anyone from Mathura..?
latest answer
No answers yet!!
Yash Singhal
CA Inter
★ 290
0
208
Total income
Direct Taxation
answered on 27-Apr-23 11:07
I have a doubt in depreciation of furniture .. they’ve calculated it only on 19k, as 18k exceeds 10k and it’s paid in cash .. however why is 11,000 freight charges excluded from cost of asset? When u pay to transporter , up to 35k u can pay in cash right ?
latest answer
Thank u ma’am
SANSKRITI BADRI 2111339
CA Inter
★ 2K+
13
209
Joint cost
Costing
answered on 27-Apr-23 09:33
In a) ,ques says to find if no further processing . But sir has deducted further processing costs and also in book ,it s same as wat sir did
latest answer
Question (b) asks for further processing cost,
Reetikaa R
CA Inter
★ 7K+
2
199
Quorum
Corporate & Other Laws
answered on 27-Apr-23 06:06
If quorum is not maintained throughout the meet and when it was met certain business were transacted then in that case, however some agendas were still left and these were carried on by remaining members while quorum was not fulfilled. Then those agendas which were first transacted will they also be treated as void?
latest answer
The business transacted when quorum is present-valid Specific Business transacted when quorum is not present- void, which would be adjourned
Sugam SM
CA Inter
★ 9K+
1
155
Courses
Course Guides
Offerings
CIN: U74999TG2017PTC116012 | GSTIN: 36AAECI4332C1Z0 | PAN: AAECI4332C