I want to know that if a person is earning a income from other sources such as commission or such and for earning that income he is using a laptop or other asset. he is using that asset purely for earning that income. now will the depreciation of that will be admissible???

And also if a person has an Asset in his own name but claims to use it in his business than what???

and finally if an assessee has a tution class which he conduct at home and considers as income from other sources and purchases a laptop purely for help in tutoring as to make papers and research etc. so what about depreciation then???

Dear Sir,
Assessee TDS was deducted amount Rs. 7500/- in F.Y. 09-10 same is showing in 26AS but he has not claimed that amount in the return filed on 31-3-2011 i.e belated return. Is it any solution available to claim that TDS refund.

An Indian company has paid Commission to foriegn agent for the export purpose.
Is the Indian Company Liable to deduct tax at source? please give the reason of the same in support to the answer.

What are the Conditions for Claiming for Additional Depreciation i.e 20% on new P&M

Dear Experts,

Whether Section 269SS and 269T is applicable to individual who have only bank interest income.

i mean one individual who have bank interest & short term capital gain, have taken cash from some his relatives & friends, and paid them in next years.

whether received above 20000, penalty can imposed.

Hello please carefully see this question.

Our's is a Infrastructure Company. We incurred ROC Fees towards increase of Authorised Capital. As we know that the same could not be claimed as deduction U/s 37(1) of IT Act as it is Capital expenditure.

I came to know that sec-35D is not applicable to Infrastructure Company as per Ansal Housing & Construction Ltd V CIT (HC) ITA Nos.1261,1278 & 1402 of 2008 .


My question is how this expenditure to be written of in the P&L.

Kindly please resolve my problem.


Thanks & Regards

Hi
I have filed the Income Tax Return form ITR 1 on 8th July 2011, I have forgot to post the ITR V after filing the Return to Bangalore CPC office, & then I have posted in October, and they have received on 2nd week of November 15/11/2011

THE CPC Has Rejected the ITR V Filed in July for AY 2011-12

Reason :- Filing date has exceeded the Due date

Now should i have to file a Revised Return or their is no need to file the return again

Kindly help on this

Thanks & Regards
Deepak

Filing of ITR electronically is mandatory in case of individuals whose books of accounts are audited. What to do if the same is not followed and ITR is filed mannually only? What are the consequences of not filing ITR electronically?

what is dividend stripping? Please tell me in detail.

Dear Experts.

How do we consider closing stock in works contract entity. Especially they did work & bills sumbitted to department,but the payament will relase next financial year. Mainly we considering the turnover on form 16A which given by the department for the financial year.Pending bills they will not include in form 16A because payment were not made on that. whether its correct.& remaining bills sumbitted we consider as closing stock. but books are maintaing under mercantile system. kindly advice me whether we have to declare pending bills to be turn over for that year.