The Company has changed the method of Depreciation, the depreciation is now recalculated with the new method from the date the asset was put to use . Now my querry is that:
a) whether the diff in the amount of Depreciation due to the old and new method should be shown below the line or above the line .
b)whether the diff will be considered for calculating the book profit I.e if the diff is shown above the line then whether we have to add back or deduct as the case may be from the Net Profit or Not.
c) In Calculating the Book profit, if the company has brought forward Business loss and unabsorbed depreciation, whether the lower of the business loss and unabsorbed depreciation will be deducted from the net profit for calculating the Book Profit.

a civil contractor paid to an agent rs 137000 for drawing the structure of buildings.

please tell me the applicable tds rate? can i treat it as a sub contract..?

Dear Sir(s),

Eagerly waited new company bill approved by cabinet.. It'll be presented before parliment before November..Happy to hear this as a person working as a trainee in a corporate world..

But as a CA Student, I feel disguised to accept this.. So Kindly Let me know if the New amended companies come into force, will it affect the students who are writing thier PCC exams on May & Nov 2009?


Thank You

Regards

Anthony.R

Hi Experts,


Its with regard to Manufacturing 100% EOU compnay. They have deducted the TDS amount from the transporters of goods U/s 194 C. But failed to remit the same..and no return has been filied...

Could you please tell me what is the penalty for non remittance of TDS amount and non filing of E-TDS return...and section reference...

Is TDS to be calculated on Basic amount inclusive of Service tax or just on the basic amount.I m aware that TDS on rent is to be calculated on basic amount exclusive of Service tax.What abt other TDS payments?

i need a clarification w.r.t procedures for setting/formation of liaison in india for ROC/ INCOME TAX DEPT/ DOCUMENTS NECCESSARY. REPLY its urgent

the company in FY 2004/5 was having block of assets building @10 % depreciation with opening wdv say rs 100.
during the year comapny was demerged and part of block of assets transferred to the other company say rs 70.
So balance rs 30 remained as wdv of the company which consisted of only few residential flats which at end of the year the comapny showed as residential building and in effect transferring from building block @ 10 % to residential building block @5%.
was the company right in doing so or should it have retained it as building block @ 10 %.??
the comapny has since filed IT returns for the next few years and can it change back to building block @ 10 % showing previous transfer as a mistake??
keeping in mind that the residential flats were purchased long ago and at that time had been shown for non residential use.
IS it the nature of the building or the use to which it is put that decides if it is residential or non residential?

What is the taxability of amounts received after maturity from investments made under section 80C?

what is the meaning of interim order?

The company has block of assets as residential building.it consists of 3 apartments.
Value of blaock of assets is say 100
During the current year company has sold one apartment say value is rs 400.
So there is deemed short term capital gains of rs 300 as per section 50.
Now company is purchasing one apartment of rs 400 so as to set off short term capital gains.
If for any reason the new apartment purchased is not put to business use can the ITO disallow the asset to be included in the "block of assets" and hence resulting in short term capital gains?
Or is it that ITO can only disallow depreciation on the new asset but inclusion in "block of assets has to be allowed??