Dear All,

Can any body tell me that if we have repaired our fursh of Plant of about Rs.1000000 then will it be capitalised in plant and machinery or not.

We haven't writeoff our plant cost for its damaged fursh.

Why there is differece in rate of Depreciation as per Company act and Income tax Act

Thax & Regds
Santosh

Additional depreciation allowed to manufacturing companies u/s 32 be claimed only once so if the assessee forgets to claim it in the 1st year of purchase of new machinery..can he claim it once in any of the subsequent previous years ? If yes, under the same section ?

Respected sir,
which interest is deducted under section 80TTA ? Is the interest earned on saving bank a/c? OR interest credited to saving a/c which is earned on fixed deposit a/c (quarterly) OR both interest ??
Plz reply ..

I want to know if the stolen car insurance claim received is taxable or not?

i want to know about new rule of GMCS, i am aware that there are two GMCS as per new rule
1st GMCS within 1 year of completion of articleship,if any student failed to do so (i.e. not complete the GMCS within stipulaed time) what will be the impact???

If I am employed before 01.01.2004, can I get the benefit of deduction from salary u/s-80CCD(2)

PLEASE TELL ME HOW CAN I GET PERMISSION FROM THE INSTITUTE FOR TRANSFER IN 2ND YEAR IF I WANT TO TAKE TRANSFER ON THE GROUNDS OF NON-PAYMENT OF STIPEND & HARASSMENT.

Hello experts, As per new rule of TDS for immovable property of 1% where sale consideration is above 50lacs, what does "Sale Consideration" value means? Is it a)Total Installments (Land + Construction + VAT + ST)
b) Basic cost i.e. Sqft area X price per sqFt

In my case i purchased an under construction property from a Mr.X who was the first buyer from Builder wherein the value of property on sale agreement(between me and Mr.X) was above 50lacs.
Please help me understand this.

Suppose A(dealer) purchases certain goods locally paying VAT-
Basic Rs. 25000
Excise(12.36%) Rs.3090
Input VAT(5%) Rs.1404.5
Total Paid Rs.29494.5

Now A wants to sell the above goods to other state at CST and make Rs.200 net profit after payment of taxes and input credit.

How will he account for it?