u/GenghisBonaparte007

I have shortlisted the above two institutes for mock tests but I'm confused. AIR1CA's tests are slightly more expensive but that is not my concern. And both provide examiner feedbacks now (AIR1CA didn't used to do this earlier).

If you have given either of their mocks, it would be really helpful if you could answer the following questions:

1. Were the questions and the paper pattern as per ICAI? Difficulty-wise and length-wise?
2. Did you get the answer sheets on time?
3. Did you feel the checking was as per ICAI's?
4. Were the examiner's comments useful?
5. If you had any doubts/clarifications regarding the questions/checking, were you able to get it clarified from them? If yes, how? I think AIR1CA allows you to contact the examiner himself?

Anything else that you would like to add?

https://preview.redd.it/7ec4vj3vm8zg1.jpg?width=1080&format=pjpg&auto=webp&s=fc238ecd9e39015c69f1edb4e69dc9e40130f64c

He claims he had covered all the topics asked in yesterday's AFM paper, including ATM, ITM options, BSM with hedge ratio, poison pills, H model etc.

Can any of his students confirm if this is true? Were you able to tackle the questions easily?

As per this CBDT circular, POEM determination shall not be done for a company having turnover or gross receipts <= 50 cr in a FY

Suppose there is a foreign holding company (with an Indian wholly owned subsidiary), which is controlled from India. Its POEM would be in India under normal circumstances.

How would the "Turnover/Gross Receipt" of this company be determined? Will the turnover on its consolidated books be considered? I'm sure the dividends it earns from its investments will be included. What about capital gains? Or will the total sale proceeds be counted in the turnover?

Can somebody please guide me on this? Or at least lead me to some sources to understand this better?

TL;DR - How to calculate turnover/gross receipts of a foreign holding/investment company for POEM applicability?

https://preview.redd.it/6uv9tptngwyg1.png?width=766&format=png&auto=webp&s=52ef9d6a2aa3fa151df5d922fd5bb7183e691dab