Regarding new section 32ac inserted by budget 2013-14
This query is : Resolved
02 March 2013
Whether said deduction will be available on the assets for which the 50% advance made prior to 01.04.2013 but asset received and capitalized by the assessee after 01.04.2013? -What if in the case of 100% advance?
-What if in case asset is received but payment 100% payment made after 01.04.2013?
-What if 50% payment made after 01.04.2013?
-What if in case asset is received but payment 100% payment made after 01.04.2013?
-What if 50% payment made after 01.04.2013?
02 March 2013
In my opinion and going by the intention of the law, advance paid but new asset is received and put to use after 31.03.2013, then you may treat the same as investment for the purpose of 32AC
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
- STCG....................................................
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Taxation on LTCG for property sold after 24JUL2024
- STCG FOR GOLD ETFs
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- GST ON DAMAGED GOODS
- Last year TDS Claim
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
