Clubbing provisions in revocable transfer

answered on 06-May-24 14:23

As per section 62, there is an exception for revocable transfer by way to trust... Here My doubt is what is the treatment if the property has been sold or transfers to trust with consideration that is a benefit for assesse ?

latest answer

If it is done for a consideration then it a clear case of transfer and that would be taxable.

Jashvanth.K

CA Inter

★ 9K+

1

34

doubt regarding computation of cash flows after tax

answered 2 days ago

sir, im a little confused about the terminology used in this question, the term used in the question is" earnings after tax" but you have assumed it to be cash flows after tax,will that assumption always hold true?,what if the the terminology used is profit after tax instead of earnings after tax??

latest answer

thank you sir

aravind lalji

CA Inter

★ 0

2

23

illustration 4 part3

answered on 06-May-24 17:22

in the projdcted p&L the RM is shown as 470..actually it is calculated as 420

latest answer

420 is the RM consumed. But as Op st of 150 & cl st of 200 is mentioned, therefore RM purchased = RMC+ cl st - op st = 400+ 200 - 150 = 470

Vidya Suresh

CA Inter

★ 6K+

1

13

Omr sheet related

answered on 06-May-24 10:42

I, by mistake darken the omr circle for mcq by pen in paper 1 Is it ok? ( I read the instructions in paper 2 )

latest answer

Yes

Atharv Sankliya

CA Inter

★ 3K+

1

42

REVISED INVOICE

answered on 06-May-24 12:05

Sir, I applied new Gst registration on sep15,2023 because my turnover exceeds threshold limit on sep 15 2023. gst registration certificate came on oct 20 ,2023. now i will prepare a rough invoice for what are all the sales made from sep 15,2023 to oct 20,2023.this rough invoice will be revised and issued within 1 month from the date of oct 20,2023. now, when will i file my first gst return(due date) for the supplies made from sep15,2023 to oct 20,2023. and which date i want to show in the revised invoice sir?

latest answer

Revised invoice can be issued within 1 month and that details can be shown in the first GST return

Anand Venkatesh

CMA Inter

★ 250

1

27

interest rate collar

answered on 06-May-24 11:07

In this question if instead of Cap option, collar option was taken would that be more advantageous?

latest answer

I know. That was weird. You can state that in a collar you sell a floor. If floor is set at lowest rate the interest has gone to in the questions then floor will never be invoked When such a floor is sold, you receive premium That premium will reduce your outflow of 70 or 80 bps and If it that premium received is also 70 or 80 bps then the collar can become a zero cost collar

Priyanka Udeshi

CA Final

★ 14K+

3

36

Bootstrapping

answered on 05-May-24 04:34

Request if you could help me to recollect where the bootstrapping formula (as used in this sum) was used in any earlier part/ chapter?

latest answer

Sec val fixed income spot rates forwardcrates

Priyanka Udeshi

CA Final

★ 14K+

1

37

Illustration 2

answered 2 days ago

Illustration 2 paid 500,000 for transaction it was mentioned 2% over market price in that case 500,000 includes (100+2%) = 102 % why are we computing the 2% on paid value.

latest answer

2% of market price is transaction cost.

Vanacharla Sai Pavan Kumar

CA Final

★ 8K+

1

36

Professional Ethics

answered on 06-May-24 15:24

Can CA in practise quote client name and fee in Invoices ? Under schedule 1 part 1

latest answer

He has to quote for the purpose of record . It is a standard practice to include name n service rendered

M V Naresh

CA Final

★ 3K+

2

53

GOODWILL OF PARTNERSHIP ACCOUNTS

answered 2 days ago

Can we write goodwill table form as working notes in the exam ( like explained in the lecture ) instead of profit sacrificing ratio will we get marks for it ? or should I just write the same way given in module

latest answer

Yes

Vijaya Lakshmi Pojula

CA Foundation

★ 2K+

1

41