Fully solved IPCC taxation paper Nov 2011
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Analysis & Answers of advanced accounting nov 2011 @ Must see
Page no : 2
varun agarwal
(nil)
(233 Points)
Replied 18 November 2011
hi rahul...
i think your 4 one is wrong......
according to me...capital base will be 48480000,reasonable return.......6293600
Dhiman
(Student.)
(30 Points)
Replied 19 November 2011
@ Varun Agarwal
I think you have wrongly included Debtors in the Average Current Assets figure which is a contravention of the provisions of Electricity Supply Act as applicable in the calculation of capital base.
Rahul
(Chartered Accountnat CS)
(1580 Points)
Replied 20 November 2011
Here I would like to clarify that the answer of Q 4 is
CAPITAL BASE = Rs 4,77,80,000 REASONABLE RETURN = Rs 62,09,600
Soory for inconvinience due to wrong posting of the answer
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