Hi,

Wanted to understand the provisions of INCOME TAX ACT for depreciation in following situation:

If we have purchased any asset, and it is ready to use, but it is not put to use, whether the depreciation should be charged on the same?

For eg., our company has purchased a licenced software to be used in new product. The software cost will be depreciated in the due course.

The product in which it is to be used is under developement, and not yet ready. Hence, the software can also not be used till the time the product is ready.

In such a situation, what is the depreciation treatement for the software licence cost?

Regards,
Rajen

Hi,

Wanted to understand the provisions of companies act for depreciation:

If we have purchased any asset, and it is ready to use, but it is not put to use, whether the depreciation should be charged on the same?

For eg., our company has purchased a licenced software to be used in new product. The software cost will be depreciated in the due course.

The product in which it is to be used is under developement, and not yet ready. Hence, the software can also not be used till the time the product is ready.

In such a situation, what is the depreciation treatement for the software licence cost?

Regards,
Rajen

Could any one please help me in studying for costing paper for my nov 08 attempt - pcc. At the very thought of the subject i tend to loose sleep and also others like accounts and tax. Theory ones are okay. just 2 to 3 proper reading of the study material i feel will do.

Please somebody help me out.

Hi all,

Can anyone let me know the following query on depriciation:

One of a company is not showing Depriciation for last 3 years whereas it has a fixed asset base of a value of ~ INR 20 lacs.

Although as per Companies Act, Section 205 makes it compulsory to charge depriciation before declaring dividend but as company doesnt declare dividend so this section is not applicable.


1.Is that possible to not charge depriciation on F.A.

2.What is FORENSIC ACCOUNTING

I AM BELONGS TO HYDERABAD AND WORKING FOR A PRIVATE COMPANY, I WANT TO DO MBA-FINANCE,,PLEASE SUGGEST ME BEST WAY AND BEST INSTITUTE TO DO..PLEASE

IS IT NECESSARY TO DEDUCT TAX IN CASE CLIENT GIVES PAYMENT OF FLEX PRIENTING WORK,WHERE PRIENTING MATERIAL IS NOT BELONG TO CLIENT?

R/ Sir,
I am a student of CA Final yr.
My attempt is in Nov. 2008. Currently i have started my studies and they are at initial stage.
I am thinking that i can do the studies on my own also. I have confidence that i can cover my syllabus effectively.
But at the same time my other friends are saying just join classes and after that do the studies. Even if i joined classes i has to study on my own, classes may not be helpful in long term.
So even if i have to study on my own why should not study on my own. This will save lot of time and money.
I have notes of classes.
BUT, at the same time i am worried that, if my decision goes wrong and i fail in exam, then everyone will say to me that," I told u at that time to join classes, but u didnot listen to me"
I am really confused.
I request u please guide me sir, what should i do?

Can some one provide me the details of provisions under VAT Act of any state other than Assam, regarding submission of billwise details of purchases agt. tax invoices and sales agt tax invoices and agt C forms.
Most urgent please..

What is the monthly exemption limit for food coupons or foods provided in side the business premises to the employees?
Is the expenes taxable under FBT for the employer?
Regards,
Debasish.

Sir,
I am sending you a link in which there is a list of coaching institutes for CA of AHMD. Are they the ones, which you suggested me. There is a college named “h l college of commerce” , which is a college for B.Com. How cud it be a ca coaching centre.















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