Whether penality paid for getting the asset in to existence can be capitalised ?

Whether the penality paid can be allowed to add as an expense to the Fixed Asset as Per Income Tax Act ?

sir,
my brother working in usa and send 1200000 for household expenses and that amount was kept in Short term deposit on my father's name and meanwhile my father received interest of 56000 on such STD. in jan09 such STD closed and that amount was transfer to my mother's account and now under which head such interest of my father's to be shown in his assessment. and what is the nature of such interest and any deduction is available for this amount.

awaiting reply thanks alot

Incase of T.D.S. has been deposited by the assessee inleau of E payment , whether the assessee will be deemed to default in payment of t.d.s or he will get the credit of the same. what is the remady available to the Act. Kindly advise .
A.K. Dokania

Dear Experts

Pls help me how to account last year income tax amount paid

Thx & Rgs

Harsha

A Nepalies company (Ltd. Co.) came to India and filed a tender at India as per news paper invitation made by State Government for supply of stone boulders etc.,and the co. supplied stone boulder about Rs.2000000/-during the financial year 2008-09 and get the payment after raising the invoice and submit the same at India . At the time of payment the department has deducted the income tax at source from the payment made by the State Govt. The company have no branch at India and further having no bank account in India and hn any place of business in india.The stone boulder has been supplied from Nepal to Nepal, as per purchase order. The department has issued the cheque for payment and get receipts of the cheques. Since the Nepalies Company having no bank account in India, so the company requested the Govt. department to issue the bank draft, payable at kolkata. The Govt. Department has made the Bank draft payable at Kolkata after filled up the application form of bank to issue the bank draft payable at kolkata in favour of the company. Then the company deposited the above drafts at standared charterd Bank Kolkata and collect the same at Nepal through bank.
Under the above circumstances, Kindly advise me , whether the company will have to file the I.T. return at India for the supplied goods, if yes under what residential status ?
Kindly Suggest.

A.K. Dokania

In Fbt surcharge is applicable or not For the assesseement year 2009-10

sale consideration 400000
cost of acquisition 100000
stamp value 500000
amount invested 400000

how much amount is exempted (amount invested out of gain)?

CAN U TELL ME WHAT IS DIFFERENCE BETWEEN MEMORANDUM OF ASSOCIATION AND ARTICLE OF ASSOCIATION ,AND PLEASE GIVE SOME DETAILS

We are making GTA payment towards PLA whether we are eligible for aviling CENVAT Credit for the same.

Dear Sir,
What is the accounting treatment of Plants & trees purchased from a nursery to be sowed along the boundary of a manufacturing unit. What is the treatment of this expenditure captial or revenue & under what head of accounts it is to be accounted for. Purchase is made for a new manufacturing unit and expenditure is substantial. Production of this unit has not yet been commenced so definately this is a capital expenditure. What is the rate of depreciation under Income Tax Act, 1961 under which block. Please advice
Thanks
CA Rajpreet Singh
+919888035627