CA Final DT paper may 2018
Page no : 3
Chetan
(CA final Student)
(35 Points)
Replied 14 May 2018
Dixit Kothari
(Article)
(71 Points)
Replied 14 May 2018
Mritunjay Kumar Sinha
(tester)
(51 Points)
Replied 14 May 2018
| Originally posted by : Chetan | ||
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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? |
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Chetan you are absolutely correct - expenses related to fee for technical services would not be added back, and also its receipt would not be deducted.
B.S.Omkareshwar
(CA-Final Student)
(217 Points)
Replied 14 May 2018
Lets wait for suggested answers....Time to study IDT guys...expecting IDT to be easy...nevertheless its ICAI.
Chetan
(CA final Student)
(35 Points)
Replied 14 May 2018
Devangshu Anchalia
(student)
(22 Points)
Replied 15 May 2018
Does somebody know the answer to 6(b) - Old syllabus?
Shobhit Jain
(CA)
(4896 Points)
Replied 16 May 2018
Shubham jain
(ca)
(133 Points)
Replied 16 May 2018
Shobhit Jain
(CA)
(4896 Points)
Replied 16 May 2018
especially group 2 papers
Somaas Kandan
(CA Final)
(385 Points)
Replied 16 May 2018
If the donations made to other trust form part of corpus fund, then it is not deemed to applied, otherwise it is deemed to be applied - Recent Amendment.
Actual cost of Building is taken as application and not Stamp duty value.
Saikat Roy
(Student CA Final )
(22 Points)
Replied 17 May 2018
Anyone condidered income from other sources in respect of building purchaded by the trust? SVD-Actual Cost 56(2)(x)(b)
S.RAJENDRAN
(Proprietor)
(40 Points)
Replied 14 June 2018
DT-MAY 2018-OLD
1(B)
I Net Profit as per Normal Provisions 20,00,0000.00
Add:Int from Y Ltd 700000.00
Add:Fees for Technical servcs 1900000.00 26,00,000.00
Net Income 46,00,000.00
Tax computation
Tax @ 40%39,00,000*40% 1560000.00
Tax @ 5% on Rs.700000*5% 35000.00
1595000.00
Add:Education Cess @ 3% 47850.00
1642850.00
PROFIT AS PER MAT
Net Profit 83,00,000.00
Less:Dividend from Ind,Companies-listed 8,00,000.00
Less:Dividend from Ind.,Companies-Unlisted 4,00,000.00
64,00,000.00
Tax @ 18.5% = 11,84,000.00
Add:Cess @ 3% 35,550.00
TOTAL 12.19,520.00
Normal Provision tax is higher ---tax payable Rs.16,42,850.00
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