Machinery lost by fire on 1.1.2009. Replacement by new machinery took place before 31.03.2009. Can depreciation be claimed on the machinery even if production is not started as on 31.03.2009. If possible can enhanced depreciation be claimed being it a new one.

WE HAVE CREDITED MAINTAINCE CHARGES(TDS ON CONTRACT) ON JAN 1 2009 BUT TDS PAID ON MAY 6, 2009 WITHOUT INTREST.

WHAT WILL BE INTREST AMOUNT IF WE WANT TO MAKE PAYMENT OF INTREST IN NEXT MONTH (june 2009)?

KINDLY ADVISE.

Is there any new rule going to come regarding transfer in favour of students
If yes then till when.
?
Please reply

If the Invoice date is 1.04.08 and the asset is received on 30.04.08 but the same is booked in the accounts on 31.05.08 then from which date we can charge depreciation. (assuming the asset is computer and the date of asset put to use is not known)

whether the TDS on the contract value is to be deducted after charging Service tax and VAT or before that on the gross figure???? what is the rate of TDS and also when the same is to be deducted at WCT or on contractor???

In a.y. 2005-2006, my client took Interest free refundable security for the entire premises by way of a/c payee cheque of Rs. 300000/- from his tenant and the same was duly disclosed in the balance sheet of my client. His wife being co-owner of the property receives 50% rent. When the case came up for scrutiny in a.y. 2007-08, the AO says that since his wife was also 50% co-owner of the property she should have received 50% of the security amount and he now wants to add 50% (i.e. Rs. 150000/-) in my client’s income in a.y. 2005-06 by way of issuing notice u/s 148. It will be not out of place to mention here that the entire amount of Rs. 300000/- was returned to the tenant in a.y. 2008-09 by cheque when he vacated the assessee’s premises. Is the action of the AO justified? thnx..

My client is leaving present organisisation in which she is a Director and is holding 20% shareholding in the company. She wants to know the value of her shares as on date. It is a running private ltd company and will continue business in future.The present shareholding will be brought by the other directors in the company. As per balance sheet as on 2008 the reserves are Rs 7 crores and share capital is Rs 1 croroe.

Please tell me if an article assistant works for more than 35 hours in a week, is he entitled to a compensatory leave? if yes than what is the creteria about how much compensatoris will be given??
Please reply soon..

suppose there is a DTAA signed between a foreign co. n Indian concern n the foreign co gives technical assisstance to the indian concern for which royalty is paid by the indian concern so how would sec 195 n 115A apply???

So basically Sec 115A would apply to the foreign co. to whom royalty is paid and sec 195 to the indian co. who is paying the royalty, isn't it??