WE are private limited company. We have regularly filed income tax returns. We have claimed SET OFF from the unabsorbed loss of P.Y. in the F.Y. 12-13. We have in the SAME financial year (i.e. 12-13) have not claimed depreciation in the computation of income.
Now the question is whether the depreciation for the F,Y, 2012-13 CAN BE taken as unabsorbed depreciation over and above the unabsorbed depreciation of Previous Year; even if the depreciation table is not shown in the computation of that year.
We are following WDV method for calculating depreciation.

CASE LAW..1)Assesee acquired generator for his business use ON 1/4/13 that was in passive use(i.e.reamain idle for entire) year..will depreciation be allowed for the AY 14-15 ??as sec.32 says asset must be put to use for claiming depreciation..
2)CASE LAW..Assesee acquired computer for his business use ON 1/4 of PY..its was ready to use on 1/6/PY..it was put to use on 5/10/PY..WILL dreciation be allowed for full year or half year?as per sec.32 asset must be put to use for claiming depreciation..plz answer.thank you

Dear Experts,

Last year i paid my annual membership fee by drawing a DD in favour of ICAI and i delivered the DD at the regional office of ICAI in my area.

This time i paid the fee online (successfully through my debit card) but yesterday i received a communication that if i have paid the fee online i need to send a snapshot of the payment made alongwith Statement of Account to ICAI which should reach the institute before 30th September.

Firstly the very reason i chose online payment mode was for convenience but now this has caused me more trouble as now i have to send everythng physically by post to the institute ( not even by mail but by post.) If i made the payment and the institute's account gt credited, isnt that conclusive proof that i actually did make the payment

Could you all please provide me with the address where i need to send these physical documents? I seem to have lost the form that the institute had sent me for mkng the payment which gave the details of modes of payment available.

Hope for an early reply as time is of essence here...

Thanking you.

hii!
Actually i wanted to know how the notice to principal is to be served i.e. the format, time limits and all. And can anyone please give me the list of companies available for industrial training abroad?Also , one should go for industrial in govt or private co.s ?

Sir's, I was checking the accounts of a association. They have availed 'house keeping services' from a business, there were no services in April but from may to September the association has deducted TDS @2.26% and for the remaining months @1%. Can they do that? Because 1% is for individuals and HUF's...? Thanks in advance... Gavin

A private limited company which is incorporated in the previous year and taken advances from customers and invested in work in progress but not yet started its operational activities in the previous year should file its return or not???

actually i file return for the a.y 2014-15 but forget to shaw profit from long term capital gain from selling shop so it was neccesary to revise return or it will be shaw in next year

Every article student is eligible to go for industrial training ?
if yes how to proceed and when we have to join in such training ( means during which year of article ship training).

Sir, I have a client, whose "Demand details as shown u/s 143(1a) of 2 financial years of which income tax return were filled manually. It is well know fact if return was filled manually, intimation u/s 143(1a) can't be view online. I want to know how to get intimitation of the years in which manually return filled? would one need to visit department to get it or is there any process to get it online???????


Its urgent......

Hi.

If the amount of loan sanctioned for acquisition of the residential house property exceeds 25 lakhs or the value of the residential house property exceeds 40 lakhs .

can we avail the benefit under Sec.80EE at the time of above condition.

- Prasad.