A company has acquired plant and machinery, in the py 2006-07 eligible for additional epreciation u/s 32. however company did not take additional depreciation in the PY.
can the company now claim additional depreciation?

is there any provision or judgement which says that additional depreciation can be claimed in the initial year of its acquition only??

Respected Sirs ,
One of my clients rcd show cause u/s 271(1)b of the act , after rcving we realised that notice was served u/s 143(2) on the wrong address and returned back . since notice was not served in limitation period at the right address , we didnt attend scrutiny proceedings , assessee filed affidavit stating no notice has been received . AO says he will issue show cause u/s 148 . my question is ...can a show cause be issued u/s 148 , when initiation ( by issuing a notice ) of proceedings is commenced u/s 143(2) . can he start 148 before completing 143(3) . His issue is he cant complete 143(3) cos we have challenged his notice and not attending . i told him 144 is a better choice by taking us as assesse in default . Any advices ?

Dear All,

One of my client (Individual) had paid for installation of electricity transformers, ownership of which was transfer to mseb immigiatly. Now the subject matter is that, whether is it treated as capital or revenue expenditure?

If it is treated as capital expenditure at what rate depreciation is to be charged?

Dear All,

What is the kind of Gratuity (approved / unapproved)provision that is disallowed u/s 40A(7) and 43B?

In Form 3CD if we disallow gratuity provision u/s 40A(7),do we need to show the same amount in annexure related to items disallowed u/s 43B.

Thank you

I want to know that if my company pay money to our buyer( outside india) for rewarding the work of our supplier ( india) or contractors.

Then what entry i have to provide in my books of account for payment to buyer (outside india) in that matter

Kindly reply me as soon as possible.

My quetion is
Whether TDS should be deducted in case of Hotel Lodging if a person stays in hotel for more no. of days or a person is a regular customer of that hotel & therefore lodging expense of such hotel in the year exceeds Rs.50000 in aggreegate or Rs20000 in single bill.ASSUME THAT THERE IS NO ANY ANNUAL CONTRACT.

Please provide the ans. with examples. If there is any cerculation on the clarification of this quetion please give me the reference.

Thanks in Advance.
Ashwini

Is audit compulsory for pre-primary school having only 8 children and gross receipt of only 8000/- per month in initial stage as break even point is at least two-three years.Similarly in case of newly established trader which starts generating profits after three four years.Advise.

whether depreciation as per Income Tax Act can be claimed even if no depreciation was provided in books as business was discontinued in the previous year

Dear all,


Please inform that what is the payment date of month TDS and Quaterly returns and annual returns and what are the form no.s

where we have to sumit.
what is the procedure and systems to payment and e-tds.

any body ple... answer to me

thanks and regards
kumar