in 80ic there is a condition for claiming it is:-
Business is not formed by the transfer to a new business of plant & machinery previosly used for any purpose.(more than 20%)

if we aquire old plant machinery on hire, than it will be covered by above or not ?and we will be not eligible to the deduction or not?
old machine hired can be more than 20% of new plant & machinery purchased?

Dear All,

If any person file individual return form-2(e-return) for the asst. year 2007-08 on 31-07-07 but he have not digital signature and he paid all income tax liability on 20-07-2007.But could not file form V with I Tax dept.than IncomeTax dept.,would be treat with assesse.

harish

I have recently taken up a new employment in a new city. The new employer reimbursed the notice pay paid by me to the previous employer. He has also picked up the transportation charges for household goods from my previous city to the new city & brokerage charges for fixing up a house.

Pls clarify on the taxability of these payments? Would they be taxable as they are only reimbursement of expenses incurred?

In what period a incone tax return could be reviced.

hi
can somebody tell me that according to income tax a person (individual) to whom make a gift and what are its conditions

DEAR ALL

PL.GUIDE ME ABOUT MAT FOR THE ASST. YEAR 2007-08, 2008-09


H.ARORA

There is a company which has announced a scheme of arrangement.
As per the scheme each share of Rs.10/- will get reduced to 1 share of Rs.2/- and then 5 shares of Rs.2/- each will be consolidated to 1 share of Rs.10/-

Suppose an investor has 100 shares of Rs.10/-.The shares will first get reduced into 100 shares of Rs.2/- each and then they will be consolidated into 20 shares of Rs.10 each.At this stage there will be no capital gains tax liability.

How to compute the capital gains when a part of the newly converted 2 0shares are sold ? What should be the Cost of Acquisition ?

Hi,

If an employee travels for official purpose and if he receives Daily Allowance for the no of days he travels and the same is not taxable in his salary, whether such DA is liable for FBT under Travel @ 5%..??

our is a charitable istitute trst we are given some properties to various parties total rent recevied is in excess of rs.120000/- from singal party, whether trust and charitable institution are exempted to deduct tds or not pl. give me notification and case laws.our total income exempted from income tax.

hi dear all,

i am working in mumbai, i would like to have my New PAN Card with my native place (Tamil Nadu)ration card address. i went online application for new PAN Card, but i dont know AO Number, AO Type Ward/Circle Etc.

can any one help me out that how can get it done

thanks with regards

nasa