Should srinivasa raghavan be in this club
This query is : Resolved
14 November 2008
responses welcomed
"Thanks,exactly,absolutely right,No" - Are these a reply from expert
"Thanks,exactly,absolutely right,No" - Are these a reply from expert
14 November 2008
As an expert and a member in top 30 list, I cannot comment on this.
But i can comment that the answers of queries should be proper or somewhat relevant otherwise there should not be an answer.
One more thing, I request members to form a good query, first search in google, whatever you want, if it is not available there then only ask the query.
As we are the esteemed fraternity of the earth, just read whenever, wherever and whatever you write, if it is ok to post, then only we should click on submit button.
Rest is on you,
One more thing, as this is not a query, but is a forum like message, please leave it open,
Thanks,
**DM
But i can comment that the answers of queries should be proper or somewhat relevant otherwise there should not be an answer.
One more thing, I request members to form a good query, first search in google, whatever you want, if it is not available there then only ask the query.
As we are the esteemed fraternity of the earth, just read whenever, wherever and whatever you write, if it is ok to post, then only we should click on submit button.
Rest is on you,
One more thing, as this is not a query, but is a forum like message, please leave it open,
Thanks,
**DM
14 November 2008
BUT LET ME KNOW WHY THE CONTROVERSY HAS STARTED FOR SRINIVAS RAGHWAN
15 November 2008
Mr. Dashrath, Students expect something in CA club for getting answer. Google cannot provide all the solution u expect. For example there was a query on Deferred Tax status on depreciation on Leased asset in the books of L'sor and L'ee. L'sor claims depreciation in IT act and L'ee claims depreciation in Accounting books. The differential claims will result only in permanenent difference. Permanenet diff will not emanate into DT. But the gentleman (expert?) answers this way "Yes You are absolutely correct". You just go to forum message, under accounts regarding DT on lease. Things will be self explanatory. Other guest replied the query perfectly and the querist thanked the guest and not the expert.
Now the question is so called expert is giving one word answer and spoiling the image of expert.
Some furious students/queriest grew angry with the gentleman.
the Background is this. There are many citations given for the logical anger amongst the queriest.
One thing v need to remember, queriest may be an expert in another area, jus coz they ask question, some non sense cannot be taken as reply. Some experts just to get points, they poke their nose even though they dont have answer go on advising people, giving false n unrelated answer.
when i dont kno the subject, i should simply sit quite. For getting points, one should not say, "yes" "No" type of answers
Now the question is so called expert is giving one word answer and spoiling the image of expert.
Some furious students/queriest grew angry with the gentleman.
the Background is this. There are many citations given for the logical anger amongst the queriest.
One thing v need to remember, queriest may be an expert in another area, jus coz they ask question, some non sense cannot be taken as reply. Some experts just to get points, they poke their nose even though they dont have answer go on advising people, giving false n unrelated answer.
when i dont kno the subject, i should simply sit quite. For getting points, one should not say, "yes" "No" type of answers
15 November 2008
By : Rohit Khare
student
[ Scorecard : 100]
Send PM
ON : 13 November 2008
Dear All,
Suppose Mr. X gives an asset on finance lease basis to Mr. Y. As per AS 19, Y will claim depreciation. But as per Income Tax ACt Y is not entitled to depreciation but it is X the kegal owner who will claim depreciation. In this situation there is difference between accounting income and taxable income of X to the extent of depreciation. So should this result in deferred tax asset or liability for X & Y also????
Waiting for reply.....
By : S.Srinivasaraghavan
Chief Financial Officer and Co
[ Scorecard : 11139]
Send PM
ON : 13 November 2008
Naturally . Yes.
By : NAVNEETH (Guest)
ON : 14 November 2008
Dear Sri Rohit,
I got the same doubt. I got it clarified through a faculty member based at chennai. He says that there will be permanent difference and will not result in either DL or DTA. This srini gentleman seeming to answer in brief, says yes or no without explanation, y should he resort to answering questions like this. He has no job it seems in his office. simply spoiling the club student members
When X L'sor claims depreciation as per IT act, Y lessee cannot claim under IT act but as per AS 19. In both X as well as Y accounting income will be different on account of this differential claim of depreciation. So it will result in Permanent difference and only timing, temporary difference will result in DTL/DTA
My email id is tru2lif @ gmail.com
By : Rohit Khare
student
[ Scorecard : 100]
Send PM
ON : 14 November 2008
Thanks Navneeth for clarifying my doubt. I was also of the same opinion but I wanted some strong opinion. THanks a lot once again.....
student
[ Scorecard : 100]
Send PM
ON : 13 November 2008
Dear All,
Suppose Mr. X gives an asset on finance lease basis to Mr. Y. As per AS 19, Y will claim depreciation. But as per Income Tax ACt Y is not entitled to depreciation but it is X the kegal owner who will claim depreciation. In this situation there is difference between accounting income and taxable income of X to the extent of depreciation. So should this result in deferred tax asset or liability for X & Y also????
Waiting for reply.....
By : S.Srinivasaraghavan
Chief Financial Officer and Co
[ Scorecard : 11139]
Send PM
ON : 13 November 2008
Naturally . Yes.
By : NAVNEETH (Guest)
ON : 14 November 2008
Dear Sri Rohit,
I got the same doubt. I got it clarified through a faculty member based at chennai. He says that there will be permanent difference and will not result in either DL or DTA. This srini gentleman seeming to answer in brief, says yes or no without explanation, y should he resort to answering questions like this. He has no job it seems in his office. simply spoiling the club student members
When X L'sor claims depreciation as per IT act, Y lessee cannot claim under IT act but as per AS 19. In both X as well as Y accounting income will be different on account of this differential claim of depreciation. So it will result in Permanent difference and only timing, temporary difference will result in DTL/DTA
My email id is tru2lif @ gmail.com
By : Rohit Khare
student
[ Scorecard : 100]
Send PM
ON : 14 November 2008
Thanks Navneeth for clarifying my doubt. I was also of the same opinion but I wanted some strong opinion. THanks a lot once again.....
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