Allowable expenditure???
This query is : Resolved
05 June 2012
1. Whether the amount paid to contractor for construction of hotel building by partnership firm (tax audit previous year)is liable to deduct tax at source?
2. Interest paid on term loan for construction of hotel building. Can the interest paid till date of completion of hotel building be claimed as revenue expenditure or be capitalized when only few rooms have been constructed and business on only such rooms have started?
3. Whether processing charges paid to the bank is allowed as revenue expenditure?
4. Is interest on service tax allowable revenue expenditure?
2. Interest paid on term loan for construction of hotel building. Can the interest paid till date of completion of hotel building be claimed as revenue expenditure or be capitalized when only few rooms have been constructed and business on only such rooms have started?
3. Whether processing charges paid to the bank is allowed as revenue expenditure?
4. Is interest on service tax allowable revenue expenditure?
05 June 2012
i have filed a tds return but the client has paid the challan for Q1, Q2, Q3 how can i file the returm
05 June 2012
@ Mr. rohit the reply is as under :-
1.tds applicable
2.The amount of interest and other expenses less income from room will be capitalised till the completion of hotel.
3.refer above reply
4.Interest will be allowed
1.tds applicable
2.The amount of interest and other expenses less income from room will be capitalised till the completion of hotel.
3.refer above reply
4.Interest will be allowed
Message likes :
2 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- DELIVERY GOLD & SILVER AND OTHER ETF TRADING PROFIT AS BUSINESS INCOME
- GSTR-1A How to update Invoice
- Excess salary payment.
- 3cd- cash system of accounting is allowed?
- Provision for loans that are under Revenue Recovery
- Form 121-contradictory opinions
- APPLICABILITYOF GST ON STUDENT HOSTEL FEES
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Stamp Paper for partnership firm change new income tax 2025
- TDS on Purchase of Immovable Property by NRI from NRI
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
