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
Good news for CA Final students. Along with CA Final Elective Paper's MCQ portion being conducted on OMR sheets, the other good news is that you will be allowed to bring back MCQ question paper too.
Today, a live session will be conducted on computing Residential Status of an assessee. Along with quickly revising the whole chapter from the perspective of Inter level students, little insights will also be given regarding the logic behind certain things. If any time remains, questions will be practiced.
Any student who wants to brush up their concepts relating to Residential Status can attend this live session for free.
Timings of the Session:- 5 PM to 6 PM (11th October 2019)
Register from the following link before class so that there's no technical issue at the last moment for tuning into the class:-
https://unacademy.com/plus/lesson/residential-status-full-revision-ca-interipcc/BKSB6Y4W
Any student who wants to brush up their concepts relating to Residential Status can attend this live session for free.
Timings of the Session:- 5 PM to 6 PM (11th October 2019)
Register from the following link before class so that there's no technical issue at the last moment for tuning into the class:-
https://unacademy.com/plus/lesson/residential-status-full-revision-ca-interipcc/BKSB6Y4W
Unacademy
Residential Status Full Revision (CA Inter/IPCC)
In this class, we will be covering the Residential Status chapter of Inter level Taxation paper in its entirety. Also, a summary material will be provided to the students. The class will be conducted in Hindi and the notes will be provided in English.
Next class will be on Complicated Topics from the Chapter Capital Gains. Just write down any topic of your choice from Capital Gains chapter and mention whether you face difficulty in LEARNING it or whether you face difficulty in understanding it.
Timing and Date of the session:- 5 PM to 6 PM (12th October 2019)
Do mention topics from Cap. Gains chapter which you'd want to cover in the class and the topics which are requested the most by students will be covered in the class along with some complicated topics which I want to throw some light on.
Use the following link to register for the free class.
https://unacademy.com/plus/lesson/capital-gains-understand-and-learn-some-of-the-important-provisions/5L1GAJJ8
Timing and Date of the session:- 5 PM to 6 PM (12th October 2019)
Do mention topics from Cap. Gains chapter which you'd want to cover in the class and the topics which are requested the most by students will be covered in the class along with some complicated topics which I want to throw some light on.
Use the following link to register for the free class.
https://unacademy.com/plus/lesson/capital-gains-understand-and-learn-some-of-the-important-provisions/5L1GAJJ8
Unacademy
Capital Gains (Understand and Learn Some Of The Important Provisions)
In this class, some of the important and complicated provisions of Capital Gains chapter will be explained to the students. Also, memory techniques in respect of certain important provisions will be given.
2 live sessions will be conducted today, i.e. 22nd Oct'19. To sign up for the free live sessions, you can use the links given below. Students will be taught with my own class summary material.
a) Computation of Advance Tax Liability and Interest thereon (5PM to 6PM)
https://unacademy.com/plus/lesson/computation-of-advance-tax-liability-and-interest-thereon/G30HDS0W
b) Detailed analysis of Tax Collected at Source provisions (8PM to 9PM)
https://unacademy.com/plus/lesson/detailed-analysis-of-tax-collected-at-source-provisions/JK2BLYX7
a) Computation of Advance Tax Liability and Interest thereon (5PM to 6PM)
https://unacademy.com/plus/lesson/computation-of-advance-tax-liability-and-interest-thereon/G30HDS0W
b) Detailed analysis of Tax Collected at Source provisions (8PM to 9PM)
https://unacademy.com/plus/lesson/detailed-analysis-of-tax-collected-at-source-provisions/JK2BLYX7
Free Live Session on Basics of Income Tax Law as per AY 20-21 on 3rd Nov'19 at 7PM-8PM
In this 1 hour long session, I'll be teaching you some basics of the Income Tax Law live which give you a head start in respect of concepts which you need to be aware of before actually starting understanding the sections of income tax act. Also, I'll be taking queries.
This is the first live session for May'20 attempt and will be followed by a series of classes. You can register for the class using the following link:-
https://unacademy.com/plus/lesson/basics-of-income-tax-law-ay-20-21/J7GQ0WDY
In this 1 hour long session, I'll be teaching you some basics of the Income Tax Law live which give you a head start in respect of concepts which you need to be aware of before actually starting understanding the sections of income tax act. Also, I'll be taking queries.
This is the first live session for May'20 attempt and will be followed by a series of classes. You can register for the class using the following link:-
https://unacademy.com/plus/lesson/basics-of-income-tax-law-ay-20-21/J7GQ0WDY
Unacademy
Basics of Income Tax Law (AY 20-21)
In this class, we will be discussing how the income tax law has been laid down in India and how it operates. These basics will help you deal with the advanced concepts that we'll cover in future.