the appraoch of the paper was too practical .... paper was easy n manageble to cover in 3 hours with good presentation,,,,,,
the appraoch of the paper was too practical .... paper was easy n manageble to cover in 3 hours with good presentation,,,,,,
bt last tym to usi din answers upload ho gye the.....
i think it is manageable
Question 3B says T "LTD" didnot report in 3CD..
doesnt it bear a conceptual error...??
how can T LTD prepare form 3cd? it is prepareed by the auditor.
I had written that T LTD was a mistake in question paper while it shall be T "and Co." ( assumed) and then gave my answer as that it has to report in 3cd at any cost since 3cd states a true and CORRECT view..
Is my view correct...?? the question reconstructed was clearly shown at the beginning of the answer.
@ KARAN TELI no question arises on the name of the compant being T Ltd. the question was right
as the question stated that you have to comment on the step/aacct taken by the company and it is also the duty of the company to state the fact in the 3CD and as being auditor t was auditors duty to see that the company had stated the relevant facts in the Form 3 CD and have to comment accordingly..
@ Nidhi Goel : audit k answer k jarurat b nai h ...as the paper was so practical... but the one thing Institute had not mentioned th e SA to be presented and written upon but the each answer contain the hiden SA's..and AS too.
I don't think so ?
here it is @ bhargav
Best of luck for next exam.
GOKUL
SFM MAY 12 - SUGGESTED ANSWERS BY PROF. ARCHAN KHETAN
/
Solutions - IPCC Tax paper May 2012......for detailed solutions, visit www.saraogi.co.in (downloads section)
|
Q. No. |
|
Answer |
|
1(a) |
|
Total income = 9,83,820, Tax = 1,50,530 |
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1(b) |
|
Tax payable = 88,065 |
|
1(c) |
|
Net VAT payable = 80,000 |
|
2(a) |
(i) |
Yes he is reuired to file ROI |
|
|
(ii) |
15,000 |
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2(b) |
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Value of taxable services = 8,45,330, Tax = 87,069 |
|
3(a) |
|
24,531 |
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3(b) |
|
False, False, False, False, False, True, False, False |
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3(c) |
|
False, False, False, True, False, False, False, True |
|
4(a) |
|
Total income = 10,64,000 |
|
4(b) |
|
Service tax = 91,052 |
|
4(c) |
|
Tax payable = 5,15,350 |
|
5(a) |
|
Mr. A = 2,60,500, Mrs. A = 2,40,000, Minor child = 20,000 |
|
6(a) |
|
20 lacs |
|
6(b) |
|
6,25,567 |
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6(c) |
|
10,488 |
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7(a) |
|
2,65,300 |
@ Sanjay -
First tell me a basic question that " Is a company requrired to prepare form 3CD...??"
Its not a company who prepares it but its the auditors who reports it after properly examing the records and states that it is true and CORRECT..
CMNITY HIRE
New Delhi
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