CA Inter doubts

BrunoAI answer

Consolidated Reserves & Surplus = Holding's own R&S + Holding's share of the subsidiary's POST-acquisition profits (after adjustments). Steps under analysis of profits (AS 21): 1. Split S's reserves and P&L balance as on the acquisition date into pre-acquisition (capital) and post-acquisition (revenue). 2. Pre-acquisition: H's share goes to cost of control (goodwill / capital reserve), and the minority share goes to minority interest. 3. Post-acquisition: H's share is added to consolidated R&S, and the minority share goes to minority interest. 4. Deduct adjustments such as unrealised profit on intra-group stock or extra depreciation on revaluation. 5. Any capital reserve on consolidation is also shown under R&S. Example: H owns 80% of S. S's P&L was 100 at acquisition and is 160 now. Post-acquisition profit = 60, and H's share = 48. So consolidated R&S = H's R&S + 48.

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VVanshika· 1 found helpful

Shubham Singhal sir and Ankita Patni mam

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BrunoAI answer

Total income (old regime, AY 2026-27) works out to about Rs 23,30,500. 1. Profession (cash basis) Fees 59,38,000 Less: Salary 21,50,000, Admin 11,48,000, Office rent 30,000, Car maintenance 8,000 (4/5 of 10,000) Less depreciation 77,500: - Furniture 6,000 (10%) - Plant 12,000 (15%) - Car 25,500 (4,25,000 x 7.5%, half rate as used under 180 days, x 4/5) - Computers 26,000 (20,000 + 6,000 half rate) - Books 8,000 (40%) = 25,24,500 Car loan interest: nil, as none was paid. 2. House property Let-out half: 60,000 - 18,000 (30%) - 44,000 interest = (2,000) Self-occupied half: interest capped at 30,000, since the loan was taken before 1.4.1999 = (30,000) Total = (32,000) 3. GTI = 24,92,500 80C: 24,000 LIC + 20,000 PPF + 1,00,000 loan principal = 1,44,000 80D: 18,000 Total income = 23,30,500 Not allowed: drawings, LIC, mediclaim and PPF as business expenses; the car loan is not income. I assumed rent of 60,000 is receivable. Check limits against the latest ICAI material/RTP.

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GGeetanjali

If you are confused about the additional depreciation on the imported machine , then the additional depreciation shall not be allowed on this machine as it is second hand and additional depreciation is not allowed on second hand asset ... Additional depreciation is allowed because he is following wdv method

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TTanvi· 1 found helpful

In order to score good marks in the descriptive part of GST, focus on writing answers with the correct legal provisions, relevant sections and proper application of facts given in the question. Always explain why a particular provision is applicable instead of writing only the final conclusion. Use important legal keywords, present calculations with proper working notes, and write a clear conclusion for every question. Practise at least 3 ICAI-level practical questions and 1 theory answer daily. Most importantly, revise provisions regularly and analyse your mistakes after solving questions.

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SSumit

Yes I have

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RRamkishan

To fir kar logi Lage raho

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RRamkishan

Konse lavel par ho mtb foundation ya inter G1 ya g2 and what is your will power

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GGeetanjali

Dono teachers best h , for questions you are needed to practice more questions in order to be familiar with the language

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AArchita· 1 found helpful

Yes you can

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SSumit· 1 found helpful

Make sure you use keywords in answers

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GGeetanjali

If you haven't started , search for a good teacher who teaches in hinglish ( better understanding ) , and for writing try framing short sentences , if you have completed once ... Do writing practice ( will help a lot )

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