A company has let out its property (building) which is the main business of the company. The said property is showed as fixed assets of the company and they have not claimed depreciation on that in the past years.During the FY 2007-08 a part of the property is sold and our queries regarding the same are as follow:



How the rental income should be recognised i.e. income from house property or business income?


Can we treat the same building (having three parts) as block of assets ?
What will be the treatment of gain on sale of part of the building, i.e. Is it a capital gain on individual house property or as per the bases of block of assets?

I am corporate assesse My capital gain income arises only on Mar5 I failed to pay advance tax whether should i pay 234C for four quarters or only one quarter only?

If company(employer) (not bank) has lent me loan for the construction of house, will it repayment be allowed as exemption u/s 80c or not and what about interest payment on loan.

MY COMPANY GIVEN AMC TO A COMPANY FOR REPAIR AND MAINTENACE OF A/C . WE CHARGE TDS ON THE SAME. NOW THE PARTY GIVEN US BILL FOR GAS CHARGES , I JUST WANAN KNOW THAT SHOULD WE DEDUCT TDS ON THE SAME OR NOT . PARTY CROSS THE LIMIT OF 50000/-TILL TODAY. PLEASE LET ME KNOW SHOULD I DEDUCT TDS OR NOT . WITH LOGIC.

MY COMPANY GIVEN AMC TO A COMPANY FOR REPAIR AND MAINTENACE OF A/C . WE CHARGE TDS ON THE SAME. NOW THE PARTY GIVEN US BILL FOR GAS CHARGES , I JUST WANAN KNOW THAT SHOULD WE DEDUCT TDS ON THE SAME OR NOT . PARTY CROSS THE LIMIT OF 50000/-TILL TODAY. PLEASE LET ME KNOW SHOULD I DEDUCT TDS OR NOT . WITH LOGIC.

One business firm has not charged depreciation on fixed asests for last two years now this year this firm charged depreciation and claimed as per income tax laws. My question is that : what will be the value of fixed assests for the purpose of deprection asf per income tax laws and what will be the provision for deprectiation for the amount not chartged last two years.
Thanks

One business firm has not charged depreciation on fixed asests for last two years now this year this firm charged depreciation and claimed as per income tax laws. My question is that : what will be the value of fixed assests for the purpose of deprection asf per income tax laws and what will be the provision for deprectiation for the amount not chartged last two years.
Thanks

Company Rented out its Bulinding can he claim for depriciation in PGBP . Rent recived taken in house propert & Standard Dedution Also taken Is it is right to taken Both Standard Dedution & Depriciation.

plz tell me the income tax rates for the assessment year 2008-09 for the NOV 2008 examination

vikas

hi

plz let me know the income tax rates for the assessment year 2008-09 for nov 2008 examination