Deduction u/s 80IB & 10B
This query is : Resolved
10 December 2010
As the business runs under the name of proprietor and get the deduction u/s 10B for cons. 10 years.
From the 5th year, proprietor is same but the name is different.
Assessing officer denies the give deduction u/s 10B.
Assessee can get the deduction ?
From the 5th year, proprietor is same but the name is different.
Assessing officer denies the give deduction u/s 10B.
Assessee can get the deduction ?
10 December 2010
In Section 10B /80IB deduction is available to an "undertaking". If name is being changed then new undertaking is coming into existence to which old plant & machinery have been transferred. He is perhaps right in doing so.
16 December 2010
If only name of the organozation is changed , i donnot think any effect on deduction u/s 10B, You please confirm whether new organistion has been established by the same proprieter by transferring the assets or some thing else.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- LC charges in relation to Asset purchased should be Capitalised ?
- Annual return in Gst
- Transporter Declaration form
- Regarding TDS Applicability For Director Remuneration
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
