installation of product takes 6-8 months. the installation is other than incidental to sale of product.

if contracts fall in two different accounting years, whether AS - 7 (percentage completion) or AS -9 (completed contracts) should be applied for recognising revenue and why.

Shop was purchased in the year 1987-88 at 1.50 lacs and renovation to the said shop was made amounting to Rs. 1 lac in the same year.

Now we are expecting sale proceeds in the A.Y 2009-10 amounting to Rs. 25 Lacs.

Kindly let us know the tax implications and or investment to be paid so as to have mimimum tax liability within the legal framework.

Shop was purchased in the year 1987-88 at 1.50 lacs and renovation to the said shop was made amounting to Rs. 1 lac in the same year.

Now we are expecting sale proceeds in the A.Y 2009-10 amounting to Rs. 25 Lacs.

Kindly let us know the tax implications and or investment to be paid so as to have mimimum tax liability within the legal framework.

Shop was purchased in the year 1987-88 at 1.50 lacs and renovation to the said shop was made amounting to Rs. 1 lac in the same year.

Now we are expecting sale proceeds in the A.Y 2009-10 amounting to Rs. 25 Lacs.

Kindly let us know the tax implications and or investment to be paid so as to have mimimum tax liability within the legal framework.

hi,

I had opening balance(WDV) of ford car of Rs 720000/- as on 1-4-2007 and i have sold the same car on 20-1-2008 for Rs 560000/- and further no new car has been purchased .

My queries are-

1) Can I claim deprecition of ford car for Financial year 2007-08?

2) If yes then at what rate?

3) If no, please give me the reasons citing specific sections of the act.

sir
whether 40A(3) is applicable in the following case
Mr.A purchased goods worth Rs. 15000 and Rs.16000 on 14-05-08 and on 20-05-08 respecively from Mr.B
and payments made on 25-05-08, Rs.31000 in cash

hi,

I had opening balance(WDV) of ford car of Rs 720000/- as on 1-4-2007 and i have sold the same car on 20-1-2008 for Rs 560000/- and further no new car has been purchased .

My queries are-

1) Can I claim depreciation of ford car for Financial year 2007-08?

2) If yes then at what rate?

3) If no, please give me the reasons citing specific sections of the act.

hi,

I had opening balance(WDV) of ford car of Rs 720000/- as on 1-4-2007 and i have sold the same car on 20-1-2008 for Rs 560000/- and further no new car has been purchased .

My queries are-

1) Can I claim deprecition of ford car for Financial year 2007-08?

2) If yes then at what rate?

3) If no, please give me the reasons citing specific sections of the act.

hi,

I had opening balance(WDV) of ford car of Rs 720000/- as on 1-4-2007 and i have sold the same car on 20-1-2008 for Rs 560000/- and further no new car has been purchased .

My queries are-

1) Can I claim deprecition of ford car for Financial year 2007-08?

2) If yes then at what rate?

3) If no, please give me the reasons citing specific sections of the act.

hw i would istudy tax as i m having problem in learning section & remembering their provisions.