Question
Which of the following Tax is levied by Union and
collected and appropriated by States?Solution
As mention in article 268 of Indian Constitution, Stamp Duties are mentioned in the Union List shall be levied by the Government of India but collected and appropriated by the States.
Post-merger, the acquirer reports a goodwill of ₹120 crore, 40% higher than the net assets acquired. Upon impairment testing, only ₹10 crore is reco...
If a government grant is received but later becomes refundable, how should it be accounted?
What does the acronym "OCI" stand for in accounting and financial reporting?
Omega Ltd. has idle capacity and receives a special export order for 2,000 units at ₹420 per unit. Normal price = ₹500. Unit variable cost = ₹350....
What was a significant factor contributing to the decline in Average Revenue per User (ARPU) in the Indian telecom industry?
When is a Suspense Account opened?
Which of the following is not permitted in a Small Account under RBI’s KYC Directions?
Interest payable u/s 234C is computed at?
A general insurance company reports the following:
• Premium earned: ₹100 crore
• Claims paid: ₹70 crore
• Claims outstan...
There can be variety of budget. Name the budget which relates to a particular function of the business.
