1) As per Sec. 32 of Income Tax act and rule 5(1) wind mills are eligible for an accelerated depreciation @80% under the head plant and machinery, without option.
2) As per the ‘ Guidelines for Generation based incentives’ issued by the ‘Indian Renewable energy Development Agency’ established under the control of Ministry of New and Renewable Energy, Government of India, now, from 2009, every new Wind mill owner has to get registered with the Agency for claiming Accelerated Depreciation or Generation Based incentives. They have now made it optional and both cannot be claimed at the same time.
3) Thus now the situation arises that if the Wind mill owner goes for 80% depreciation as per Income Tax act, they cannot claim Generation based incentives.
4) But the assessee intends to go for Generation based incentives. So what will be the position of Depreciation under income tax act? Can the assessee go for 15% general rate of depreciation applicable for regular plant and machinery?
5) Please provide your valuable opinion at the earliest.

What is the due date for filing Excise Return? What is the rate or amount of Panelty/Interest if the return not filed in time limit???

Hello,

we are into logistics business incurre cost of freight charges which is Air Freight that again consists of following factors

Basic Freight(Tariff)
(Fuel Surcharge,Surcharges,X-Ray Charges)there are taxes that airline charges

So do we need to deduct TDS u/s 194C only on basic freight or freight including other surcharges also mentioned above.

Please revert.

Thanks,
Prashant

i need advice from the experts of CCI...plz pay attention...its very much imp for me...

i am currently preparing for CA PCC 2nd grup..m going to appear in this may....my 1st grup of PCC is cleared ....

exams will be finished on 15th may....and as we all know result will come near about in the end of july....

i will have approx 2 n haf months after exam...i want to ask whether i shud join for CA finals coachings or i shud wait for results...?

plz reply this query at ur earliest....m waiting...

what will happen if a person forgots to pay advance tax or any of its installment or is unable to do so for any reason like out of india during that period etc.

plz reply soon...

we paid freight on the outward to a person with the more than one truck. In a day we made 4 invoices to different parties with one truck or more. Then what will be the treatment of service tax in this regard.

hello sir,
can you please tell me the detailed procedure of winding up of a provate company?

Can anyone provide me the profession tax slabs for Andhra Pradesh,Gujarat,Karnataka,Kerala,
Madhya Pradesh,Maharashtra,Orrisa,Tamil Nadu,Jharkhand, Rajasthan
for 2010-11 and 2011-12 asap.
Thanks

My client was a director and shareholder in a pvt ltd company. My client wanted to leave the company because of mis-management of funds and improper working of other director (who is also the managing director). My client resigned from the directorship and also transferred his shares to this director. In return, my client was offered Rs. 20 lacs.

i am appearing for c.p.t. nd i wanna do b.com pass regular, c.a and llb . how can i do these..tell me how i can manage time or should i do these courses in shifts coz after clearing c.p.t i can appear for c.a till 3 years. am i going right or not?