Question
According to the RBI's revised instructions on
Unclaimed Deposits, what is the time limit after which the amount must be transferred to the Depositor Education and Awareness (DEA) Fund if the account remains inactive?Solution
The circular on "Inoperative Accounts/Unclaimed Deposits in Banks" states that amounts lying inactive in accounts for 10 years or more must be transferred to the DEA Fund.
If revenue from operations is Rs.60,00,000 Gross Profit ratio is 60%, Operating expenses are Rs.40,000 and Income tax rate is 30%, what will be the Gros...
Which of the following accounting rules can roughly estimate how many years a given sum of money must earn at a given compound annual interest rate in o...
Under GST, the 'Reverse Charge Mechanism' (RCM) implies that the tax is paid by:
Family Pension is taxable under which head of Income?
1Â What is a special purpose vehicle (SPV) in project finance?
XYZ Ltd. reported a net profit of ₹120 lakhs for the year ended 31st March 2025. The depreciation for the year was ₹20 lakhs, and amortization of go...
An insurance company earned gross premium of ₹120 crore, of which ₹20 crore was unearned at year end. Claims incurred were ₹65 crore. Calculate th...
From the below mentioned, IND AS 16 can be applied to which of the following?
Company signs a ₹12 crore contract to deliver a software + annual maintenance for 3 years. Software is delivered in year 1 (₹8 Cr value), rest alloc...
Under purchase method of consolidation (older term), goodwill on consolidation arises when:
