What is difference between Capital Expenditure and Revenue Expenditure? How the same as treated in Income Tax?

Our firm has hired a Professional Designer for repairs and renovation of our office. The fees paid to the Designer is to considered as the asset or the expenditure pls. explain in detail. Thanks.

Dear Sir,

I received intimation to my email U/S 143(1) for demand of rs 120.

Rs 115 i had paid as self assessment tax on 29/06/2012 and filed my ITR on 13/07/2012.

In the intimation/order the same amount is not matching with CPC.

Where as the amount is reflecting in 26AS and NSDL OLTAS.

Plz guide me what should i do ?

In how many days i have to clear the demand ?

I can mail with attachments, if you want to have a check.

Thanking You in anticipation for your replies.

We are storing pulses,Matar etc on Tonnage basis by allocating a portion of warehouse,since this is an agriculture produce,pl advise service tax is applicable on this ?

ashok thakker

1) Why are Pre-acquisition profits considered as Capital Receipts ?

2) Are Bonus/ Right Shares entitled to receive dividends ?

3) Are Preference Shares included in Fixed Income bearing securities ?

Mine is Proprietorship firm getting service of security supply from Proprietorship firm,will reverse tax mechanism apply here,service provider is enjoying exempt status?

ashok thakker

I m Employee the ABC Co.My TDS cut. I m apply for Refund. now my question is that can I file the separate for Return file or my application for refund is consider for return file?

My friend taken a education loan for his son in may 2005 rs.1.5 lacs he was start is repayment in 2005 and paying the interest rs.50000 up to 2011-12 and in the current year 2012-13 in may 12 paid the full & final amount of loan. he was not claim the interest u/s 80E my question is can he claim the hole interest amount in from 2005 to 2012, in the current year ie 2012-13.

If tax payable before deducting TDS deducted is 20000 & after TDS is
2000 is advance tax & sec 234B & C applicabl
e.

In Receipts and payments account it is to be shown And in b/s the unspent amount is deducted whether it is correct or not and o/s electricty charges are to be shown in b/s liablity it is clear .
ex: Electricty : 12000
unspent Elec: 6386
o/s Elec: 9000
this was the problem and how to treat unspent electricty.

A company is paying telephone, lodging bills of its employees.whether CENVAT credit can be claimed by that company for the service tax charged on that bill?