Fix asset & income tax

This query is : Resolved

mansi (Querist)
Follow

23 September 2012 Sir
There are many provisions in Income tax Act
which one has to take care while doing Tax Audits viz from depreciation rates to valuation of FA in case tr to group companies etc....

What are the rules & sections applicable in case Assets transferred from one co to another & in case both the co.s are from same group.( Block of Asset )

Is there any Complete Guidance Note for all the Income tax issues relating to FA valuation & Depreciation etc..

Thanks ,

Mansi
CA Student.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

23 September 2012 Guidance note on tax audit issued by ICAI is the best course material. Would like to know what is bothering you for FA valuation? Chartered Accountant is not VALUER. He/she needs to rely on the VALUER (Govt approved or otherwise) for the value of FA. Like to know your difficulty in this regard.

Message likes : 1 times

mansi

mansi (Querist)
Follow

28 September 2012 Thank you very much , In our client's some Assets are purchased from Group Company . What will be vale for Gross Block Purpose & as per Co Act in books.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

28 September 2012 Recors it at 'actual cost" at which the block is purchased

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

DHANASHRI KARMARKAR

CA Aakarsh Jain

Michael & Co.

divakar podaturu

sachingurav

Subscribe Now

Fix asset & income tax

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA