Residual value taken 0%, then justification??
This query is : Resolved
18 February 2015
Hi everyone,
Can you please suggest that if i am taking residual value of asset at 0%, then whether i should give justification for that. because as per Company Act 2013, Justification required if res. value is different from Act, but in the Act it is mention that % shall not be more than 5%, so 0% is also not more than 5%. so as per my view, no justification required
Plz Explain???
Regards
CA Puneet Garg
ca.puneet2011@gmail.com
Can you please suggest that if i am taking residual value of asset at 0%, then whether i should give justification for that. because as per Company Act 2013, Justification required if res. value is different from Act, but in the Act it is mention that % shall not be more than 5%, so 0% is also not more than 5%. so as per my view, no justification required
Plz Explain???
Regards
CA Puneet Garg
ca.puneet2011@gmail.com
18 February 2015
You are right no justification required for 0% residual value.
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
- CG Tax On residential property
- Post Office RD Interest
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Gift of mutual fund units to daughter
- Building tax payment deduction in rental Income
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Reporting of STCG on Property in ITR
- Not able to file ITR
- Presumptive income under 2025 ACT
- Upload Level ValidationITR3Category of Defect B/D
- Presumptive income under Income tax act 2025
- Clarification Required on Business Code for 44ADA
- Under construction property in ITR
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
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
