Safar P Ltd engaged in Transportation activity is having 5 Trucks (Fixed Assets) in its own name. The trucks were purchased for Rs 125.00 Lakhs on 25/03/2012. While preparation of Financial Statements for FY 2011-12, depreciation was charged @ 16.21% for 6 days. So an amount of Rs 66540.00 (Rs 33308*5 trucks) was charged to Profit and Loss A/c. now, my question is how to charge the depreciation during 2nd year.
Should it be on Rs 125.00 Lakhs or on Rs 123.33460 Lakhs (12500000.00 - 66540.00) it means Rs 2026250.00 or Rs 2015464.00 which figure is correct.
Kindly explain the benefit of SLM and WDV rate as per Companies Act
What is NESD as per Depreciation Chart of Companies Act

I was gifted 50000 shares of a private limited company (not listed in any exchange)
by my mother 3 months back. I am getting an offer to purchase at Rs 50/- per share. What is my Capital Gain tax. My mother had purchased them at Rs 10/- about ten year back. What best should I do as these sahres are not easily saleable

is Annual maintenance contracts for computers and its peripherals liable for TDS.

Dear sir,
I have received demand of Rs. 1680/- under sec 143/1 by I.T department for A.Y 2013-14. But it is not correct because I have calculated total deduction under chapter VI A is Rs. 105015 i.e(80C Rs. 100000 & 80TTA Rs. 5015) But they calculated only Rs. 100000. Because of above reason i received this notice. Please solve my problem. I have file ITR-1

Dear All,
I just want to know what should i do incase if i want to file income tax return for asst year 2010-11 having TDS of rs 14000.

Sir,
I was sold land for Rs. 30,00,000 and deposited this amount in my SBI Bank Account. I also have saving account in union bank.
I was purchased REC capital gain bond by issuing cheque of union bank account. Because i also have a balance of Rs. 30,00,000 in Union bank A/c.
My question is :
Is it necessary for me to issue a cheque from SBI to purchased REC bond?
Can I purchase a bond by issuing a cheque from Union bank?

Please suggest me.....

Dear Sir,
A Sim Card and flexi recharge retailor who has sold flexi and sim cards of Rs. 30 lacs and thereon on telecome company paid him Rs. 1.5 lacs as commission. Suppose he sold flexi of Rs. 70000/- in a week and then he deoposited the same in his bank a/c and transferred the same amount in telecom company bank a/c.

While filing itr 4, his gross receipt would be consider as Rs. 30 lacs
or
only Rs. 1.5 lacs would be consider as his gross receipts.


Please advise me.

hi
My client is purchasing a car in cash for personal use of value 4.5 lakh. is their
any implication of income tax?
Please suggest

I have purchased a shop in the year 2010 for Rs.9Lakh, at that time had no income I borrowed Money from my father and taken loans from friends.
Till now I have not filed my IT Return.
Now I want to file IT Return. Can I file the Return for the FY:2010-11.
If NO then how can I show this transaction in the Return of FY:2011-12? Pls Help me.

Can we upload unsigned (not signed by auditors and directors.partners, etc) balance sheet and P/L of company with 44Ab report as same is uploaded with DSC.