Important News:-
Some of CA Final & Foundation exams have been postponed again. Check the notification mentioned below regarding the same.
https://resource.cdn.icai.org/55166exam44352.pdf
Make full use of these extra days. All the best!
Some of CA Final & Foundation exams have been postponed again. Check the notification mentioned below regarding the same.
https://resource.cdn.icai.org/55166exam44352.pdf
Make full use of these extra days. All the best!
Such a wonderful time to be giving CA Exams!
ICAI reduced syllabus of many subjects but did not reduce the syllabus in Income Tax. Probably the legislators were also unhappy with this and they took charge of helping the students and hence, came up with minimal amendments in Finance Bill 2019. 😁
I'll post the amendment and revisionary videos soon. Happy Learning! 🙂
ICAI reduced syllabus of many subjects but did not reduce the syllabus in Income Tax. Probably the legislators were also unhappy with this and they took charge of helping the students and hence, came up with minimal amendments in Finance Bill 2019. 😁
I'll post the amendment and revisionary videos soon. Happy Learning! 🙂
Q9. Sukhiram had a very good year and has some money to invest. He comes to you and asks for which share to invest in so that the dividend income on such share is exempt from Income Tax in all cases.
What would your advice be to Sukhiram?
What would your advice be to Sukhiram?
Anonymous Poll
84%
a) Invest in shares of a domestic company
6%
b) Invest in shares of a foreign company
10%
c) Some other advice
Where do you want the MCQs to be posted?
Anonymous Poll
77%
a) Telegram
9%
b) Youtube
14%
c) Anywhere
Answer to Q9:- Option (c)
Explanation:-
Question clearly mentions the following 2 things:-
1) Investment has to be made in SHARES only; AND
2) Income from such shares should be EXEMPT in ALL CASES
In furtherance of the given information, students are just required to answer whether any such shares exist income from which will be exempt in ALL CASES.
Since dividend from shares of domestic company can attract tax u/s 115BBDA in some cases and dividend from shares of foreign companies attracts tax in all cases, our advice to Sukhiram shall be that no such share exists which would be tax free in all cases.
Advice:-
Has this been a subjective question which asked "Would you suggest and alternative mode of investment?", students could've suggested other better modes, but in this question, there is no need to do so.
Explanation:-
Question clearly mentions the following 2 things:-
1) Investment has to be made in SHARES only; AND
2) Income from such shares should be EXEMPT in ALL CASES
In furtherance of the given information, students are just required to answer whether any such shares exist income from which will be exempt in ALL CASES.
Since dividend from shares of domestic company can attract tax u/s 115BBDA in some cases and dividend from shares of foreign companies attracts tax in all cases, our advice to Sukhiram shall be that no such share exists which would be tax free in all cases.
Advice:-
Has this been a subjective question which asked "Would you suggest and alternative mode of investment?", students could've suggested other better modes, but in this question, there is no need to do so.
Word limit for polls is very less in Telegram because of which I am not able to post MCQs here. I'll continue posting MCQs on youtube community tab and details of important videos along with study material will be posted here