Finance act

asked on 14-May-24 11:03

Hai sir I am jan 25 student First schedule of the annual finance act part 1 says assesment year 2024 -25 Tax rates applicable for the finance act 2024 as per the attached provision Am I right??

latest answer

No answers yet!!

siddesh N

CA Inter

★ 3K+

0

54

Articleship training test

answered on 14-May-24 11:16

Why from last one year Articleship training test was not conducted and probably when the next exam may be conducted

latest answer

I think under new syllabus its dropped.

Sai Vema

CA Final

★ 106K+

1

75

Eligibility for CFA L1

answered on 14-May-24 11:10

I have 2 questions as follows 1. Is distance education from university of madras valid 2. It is said that a final year student can apply does that mean he/she should have completed all prior papers without pending papers as arrears

latest answer

Distance from recognized university ideally valid and even if you have arrears should not be an issue However, please email them at the following ID / phone number to get a more accurate response https://www.cfainstitute.org/en/utility/phone-numbers info@cfainstitute.org https://help.cfainstitute.org/s/#contactus

Dhakshana Dhakshana

CA Inter

★ 18K+

1

59

Discount rate

answered on 14-May-24 11:11

Sir under both the methods discounting nominal cash flow with nominal rate and real cash flow with real rate, NPV shd come same know, In class room soln third while solving using nominal cash flow, third year discount rate shd be 0.7118

latest answer

Thanks for highlighting will correct it

R Yashwanth Kumar

CA Final

★ 62K+

1

48

Premium on redemption of Preference Shares

answered on 14-May-24 11:16

Sir when we pay premium on redemption of Preference Shares and adjust it against profit and loss account. Should we debit in pl or deduct from pl reserve in R&S. Similar where to write off preliminary expenses.

latest answer

Profit & Loss account for both premium and also preliminary expenses.

Shrihitha Udupa

CA Inter

★ 170

1

42

Gift vochers

answered on 13-May-24 21:58

Gift voucher is an actionable claim, taxable at the time of issuance in case of specified goods -Madras High court. Further the court observed actionable claim are neither good, nor services, schedule iii item. My question is ,then why they are taxing(sec 12(4) if it is schedule iii item.

latest answer

Vouchers derives its value from underlying goods or service

Mansha Tutlani

CA Final

★ 555

1

40

Professional Skepticism

answered on 14-May-24 10:11

In the topic of professional skepticism, If the auditor critically assess the auditor evidence and checks if the documents are geniune, i) Does it take the character of investigation? ii)The fact of checking the genuineness of documents violates the scope of audit? As the scope of audit, does not include investigation and checking genuineness of documents. Do the underlined words in the picture indicate the character of investigation?

latest answer

Thank you so much Mam

Mathangi. S

CA Inter

★ 0

3

71

AS 3 Cashflow Statement

answered on 15-May-24 17:15

For a financial institution, would a Loan taken be Financing activity? Would Interest paid on this also be Financing?

latest answer

Financing.

Vishnu

CA Inter

★ 21K+

2

59

Some time I feel when I watching exam. Past year question papers Q 1 are difficult

answered on 14-May-24 11:40

So I can I start Q2 in exam mixing of sub -questions are allowed or not allowed in assending order Some say paper will check in assending order some say if u attempt in ex Q2 a bcd are sub questions I attempted cdbc wise is it any deduction mark not going order wise

latest answer

No one will deduct marks if you attempt questions in a haphazard manner, but it leaves a bad impression in evaluators mind and could affect overall evaluation process

R G

CA Inter

★ 2K+

1

54

Wrongly attempted question

answered on 15-May-24 17:16

Sir... I had wrongly attempted all question by mistake i had reasonable assurance that last question was right is there any chance for marking those question if iam at the stage of having a little mark for passing....... Please reply

latest answer

No problem. You will get marks for best 4 questions.

Visruth Vichu

CA Inter

★ 890

1

55