Our cliant is going to start a business of Oil Exporting, for this thay are purchasing a machinery of rs. 5000000 but our business will be set up after 2 or 3 year, can we claimed additional dep.?

If yes than in which year?

During the course of I.T.Asst.proceedings, if AO issues summons to third parties for confirming the transaction and such third parties fail to respond to summons, what shall be the stand of the assessee on account of failure on part of third parties

Dear All,

Thanks for your support extended to me.
Further i required clarification regarding Transfer pricing. Can any give me an idea that is there any change in the eligibility of Turnover to take up the scrutiny assessment by Transfer Pricing Officer.(TPO). (Previousely scrutiny will be taken up by the TPO if the Turnover of a company exceeds Rs.5 Cr.) Please Clarify .

Rgds
Arun.P

A rent agreement contains Rs.15000 as rent + Rs.10000 as maintance charges + Rs.5000 as car parking & generator charges to be paid to the licensor. Is there any provision not to deduct tax on maintenance & car parking

If tax is deducted at source where it is not required to be deducted as per the provisions of Chapter XVII-B, but subsequently the tax is not deposited to the credit of Govt, whether the expense should be disallowed u/s 40(a)(ia).

My friend is from Assam having a salary below Rs. 3000. He wants a PAN card as he does not have any proof of his staying in Mumbai. If after receiving PAN is it compulsory to file return

Hi,

Wanted to understand the provisions of INCOME TAX ACT for depreciation in following situation:

If we have purchased any asset, and it is ready to use, but it is not put to use, whether the depreciation should be charged on the same?

For eg., our company has purchased a licenced software to be used in new product. The software cost will be depreciated in the due course.

The product in which it is to be used is under developement, and not yet ready. Hence, the software can also not be used till the time the product is ready.

In such a situation, what is the depreciation treatement for the software licence cost?

Regards,
Rajen

IS IT NECESSARY TO DEDUCT TAX IN CASE CLIENT GIVES PAYMENT OF FLEX PRIENTING WORK,WHERE PRIENTING MATERIAL IS NOT BELONG TO CLIENT?

What is the monthly exemption limit for food coupons or foods provided in side the business premises to the employees?
Is the expenes taxable under FBT for the employer?
Regards,
Debasish.

Is distribution of note-books to students studying in municipal school is charitable activity/donation if the object of trust is stated as education and other charitable activity
what to do if CIT denies registration stating that it is a donation and not charitable activity.