CA Final DT paper may 2018

Page no : 2

venkat (CA ) (1518 Points)
Replied 14 May 2018

If u read the study material thoroughly I will get around 90 I am expecti ng around 75 isca 60 costing was a disaster only 30

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sandeep (accountant) (41 Points)
Replied 14 May 2018

u toh just loved the paper out of all it was the only paper I solved for 100 marks.

B.S.Omkareshwar (CA-Final Student) (217 Points)
Replied 14 May 2018

In that Charitable trust question

1.Donation made to other trusts having different object than that of donar trust...will it be deemed as"applied" for Chartitable trusts?

2.Also should we take actual acquisition cost as "applied" ? or " Value for the purpose of stamp duty" as "Applied"?

Nishant (Assistant) (1095 Points)
Replied 14 May 2018

it was good.... perfectly suited for final level

Mitali Sabnis (39 Points)
Replied 14 May 2018

paper was good for me dt old course

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Sushant Halwai (7 Points)
Replied 14 May 2018

very easy ........ can see many exemptions in DT this time (old syllabus)

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Bhoomi (Student) (10 Points)
Replied 14 May 2018

donation is to be excluded... amnd... from finance act 2017

Keshab Roy (Student CA Final ) (32 Points)
Replied 14 May 2018

Sidha puch liya provisions. Icai be like: le beta ab likh.. kitna likhega.. likh likh

1 Like

Krishna Prasanna (-) (200 Points)
Replied 14 May 2018

Paper is easy but a bit lengthy.

The distinctive feature of today's paper is the style in which he asked.

Atleast 50 marks can be scored.

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B.S.Omkareshwar (CA-Final Student) (217 Points)
Replied 14 May 2018

@ Bhoomi, are you referring to this amendment

".... Explanation has been inserted to section 11 of the Income-tax Act so as to provide that any amount credited or paid, out of income referred to in clause (a) or clause (b) of sub-section (1) of section 11, being contributions with specific direction that they shall form part of the corpus of the trust or institution, shall not be treated as application of income."

But in question it nowhere says that donation was a corpus donation...I think the donation given in question can be termed as "Applied"...

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Chetan (CA final Student) (35 Points)
Replied 14 May 2018

You are right.. For more clearity about this point i took assumption that it is assumed that donation is not corpus.. In 1(b) while calculating MAT only fee for technical service was not deducted?

B.S.Omkareshwar (CA-Final Student) (217 Points)
Replied 14 May 2018

@ Chetan

You will deduct

1) dividend recieved from listed company as it is except u/s 10

2)That interest from foreign currency loan, since it would be taxed at rate lesser than 18.5 %

3) Also fee for technical service, since it would also be taxed at rate lesser than 18.5 %

This is as per me though.

Chetan (CA final Student) (35 Points)
Replied 14 May 2018

@ B.S. Omkareshwar As foreign company has PE in india sec 44DA apply where tax rate is 40% If PE is not in india Sec 115A apply where tax rate is 10 % In first line it was has written about PE

Mritunjay Kumar Sinha (tester) (51 Points)
Replied 14 May 2018

Originally posted by : Chetan
	You are write.. For more clearity about this point i took assumption that it is assumed that donation is not corpus.. In 1(b) while calculating MAT only fee for technical service was not deducted?