We have purchased 20 machines from USA in the last 2 years for 10-12 lakh each from shutdown units. The actual cost of each these units today is approx. 90 lakhs new.
Can we revalue these machines and claim depreciation on the revalued amount and will Income Tax allow this?

why capital redemption reserve & security premium are not use for convertion of partly paid up share into fully paid up share through issue of bonus share?
please give me reply fast.i am waiting for your reply about it.

Sir, I had applied for PCC registration on the month of April, but had not submitted form 112 as college holidays were going on, which caused the institute to sent an discrepancy letter requiring form 112. While submitting form 103, I had mentioned my second year's timing which clashed the new schedule laid down by ICAI from 1st April 2008.
My new college timing also clashing with that of the articleship timing.
So how could I continue the registration or terminte from it.

Hello Experts,

Our co. manufactures conveyor belts. Raw material used is all types of steel (M.S., S.S.). So what is the annual sale amount on which excise would come into existence for our company.

Wats the new rate of TDS on professional fee.5% or 10%

What's the board norms for 'Scrutiny' for non-corporate assessees for the current asst. year 2009 - 10

whether Profit or Loss earned in Intra Day (Derivatives)is considered as Speculation or Non Speculation Profit or loss

sale of rural Agriculture land is exempt under which setion covering all the said criteria

Respected Sir,
Wheather Insurance Premium paid on car on 1-3-2008 of Rs.12000/- [for period 1-3-2008 to 28-2-2009] is allowed fully in the year of payment or proportianetly as a prepaid in the next year.

As per the Act it says it is allowed in the year payment.

Thanking You

can any one tell me the criteria for scrutiny ?