assesse was having a depreciable asset of wdv on 1/04/07 of Rs. 500000/-, in the current year he sold the asset on 31/02/2008 for 2500000/-, and purchased a new asset of same block on 01/01/2008for 1500000/-, so what will be its treatment in depreciation, short term capital gain, and wdv as on 31/03/2008. Block is not yet nil becasue of new asset purchased.

is income tax legally deductible for companies ? In real sense its not a personal expenditure of a company but its a personal expenditure of owners of companies, so is deductible for companies ?

payment of lip has been made from the bank of assesse, but the policy was in name of his wife, so can we calim this lip as deduction in her wife. Actually payment was made from the assesse's account, so is payment condition necessary for claiming the deduction.

assesse has not shown an asset in books of account while filling returns of earlier years, but he has sold the asset during the current year and has received payment through cheque, so now while calculatiing long term capital gains can he take indexed cost as the cost of acquisition ? can he do so ?

what is the procedure for cancellation of TIN

in quaterly vat return assesse has not used the input credit of captial goods, now its time of vat audit so can we claim the input credit on capital goods now ?

Sir,
If extra shift depreciation applicable for a particular fixed asset and it is running in double shift then in case of that machine running in triple shift for a particular period of time what rate should I take to compute depreciation calculation. please specify the same as I am facing the problem when calculating depreciation under Companies act

hi every one, im a CA Final (old ) student. I cleared my PE-II in nov. 2006. and regtd for articleship from 16 Aug 2007. i want to know when My 1st attempt for final shall fall due. is there any notification on 30Jun 2008 regarding Final Exam.(old Course) after complitation of one year articalship for students who clear PE II.

Dear all,

what are the maximum exemption in the following allowances

1) house rent allowances

2) conveyance allowances

3) washing allowances

4) education allowances

5) and the last is contributation to employees state insurance is it exempt while calculating salary chargebale to income tax



Thanks

Atul

One of our employees giving fake rent receipt for claim of HRA exemption of Delhi address in instead of Living in Haryana and also given on rent receipt consolidated for 6 months.

can we give him exemption on the basis of one receipt?
pls ad me> So that we can not face problem in future


baljinder singh