Source- ICAI MTP PAPER 6C April’22 Equalisation levy is governed by Finance Act. Hence it won’t get affected by DTAA provisions ( when we determine more beneficial provisions out of DTAA & IT Act, 1961). Ans to MCQ no 4 is (d). ...
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Source- ICAI CS Digest ( International Tax- 6C) CS- 18; MCQ No 3 Chapter XII states that if TDS deducted at a rate lower than 10% iro royalty/ FTS( approved by CG), by availing beneficial provisions of DTAA, then no exemption from ...
As per BB sir, 80RRB cannot be claimed against income taxable as per 115BBF but as per VG Sir, it can be claimed. As per sec 115BBF, expenses are not allowed to deducted but 80RRB is income-based deduction. Didn’t find ...
Source- ICAI MCQ Booklet MCQ 1.5 Ad per 45(3), in case of transfer of Capital asset by partner to firm, FVOC=BV recorded in by Firm. Sec 55 stipulates that Cost of Acquisition of Immovable property acquired on or b4 01.04.2001 shall be ...
Priyanka VanjaniIntermediate
Source- ICAI MCQ Booklet Q.17.3 For calculating Depreciation on computers, shouldn’t we capitalise the interest expenditure incurred between 15.05.2021-15.10.2021, coz asset was purchased on 15.05.2021; & interest to be expensed off to P/L should be the interest incurred from 15.04.2021 to ...
Priyanka VanjaniIntermediate
Source- ICAI MCQ Booklet Ans to MCQ no 39.4 is option (c). But since STT is paid at the time of sale & purchase & 112A is applicable, then why can’t we take benefit of FMV on 31.1.2018 ie why ...
Priyanka VanjaniIntermediate
Source: ICAI MCQ BOOKLET & RTP NOV 21 MCQ no 32.2 Deduction u/sec 80M as per RTP NOV’21 is 13lakhs & as per updated ICAI MCQ Booklet ans is 7lakhs. Pls guide as to why the ans is 7lakhs?
Gautam123Advanced
Dear Sir, Sec 142(1) , AO may require the assessee to file his Return of Income (ROI), if he has not filed his ROI. Query- In which situation can AO ask to file ROI ? 2) U/s 143 -Time limit for issue ...
In the image below, what if the income is offered to tax (in india) before the dispute in relation to foreign tax paid is settled. Will FTC allowed? The line here does not mentions about this position it simply states ...
Section 7 mentions that ‘amount transferred from URPF to RPF will be deemed to be received in India’. Because of this it will become Indian income and therefore will be taxable in the hands of NR , ROR and RNOR. ...