There is a machinery which has been written off subsequently.The machinery is no more depreciable.But the Machinery has been still put to use in production.It is the only machinery used for production.Can a company charge depreciation on such machinery? According to Companies Act,1956,a machinery which has been written off upto 90% of its Historical cost is said to be written off.

I need clarification regarding accounting treatment for costs incurred such as flooring, roofing, first time water proofing and other construction expenses incurred on a rented building (not on lease) used by a company for business purposes.

Whether such costs are to capitalized as building or are they to be expensed as repair and maintenance.

I know for a fact that they are to be included in the Block for Buildings under the Income Tax Act, but how is it to be treated under the Companies Act and whether any accounting standard is relevant for this purpose?

Can they be treated as miscellaneous expenditure and amortised over say 5 years?


Thanks

Please clarify! Can a MD of the company receive salary as well as professional fees from the company!If so TDS is to be deducted U/s. 192 and 194J is it!

Dear All,
If any employee claiming HRA and submitting rent receipt for whole year and if he also puchased home and claiming EMI and PEMI along with stamp duty and regsisteration fees (80C) for the same financial year... My query is this OK and what document we should ask to submit for calculation of Income Tax of the financial year?
Thanks
Subodh

As per new notification of icai what is procedure and critaria for joining the course.

Pls tell me whether there is any non-mathematical proof for Black-Scholes Option Pricing Model.If yes provide me with the same or suggest me the source for the same.A clumsy formula is given in the study,is there any easy way to remmember the same.Pls suggest
Thanks

can both service tax and income tax be levied on renting of immovable properties ... this issue was under contraversy ,,, what is the clarification

Please Clarify!A Sales Manager of the company is receiving sales incentives.Does FBT is liable on this sales incentive as it has been specifically exempted FBT on sales incentives given to distributors.but here an employee of the company is receiving sales incentives.

I am a service holder . I would like to join the CA course. I would like to know if it will be possible for me to do the articleship training while in service.

Whether EPCG benefits availed by the Service provider for import of machinery?

The services rendered to SEZ is to be considered as deemed export for fulfilment of export obligation under EPCG scheme?

How much time it will take to get the EPCG license once you apply online?