SEC 35ABB
This query is : Resolved
Guest
Guest
(Querist)
17 June 2009
PLEASE EXPLAIN ME SEC 35ABB OF IT I ONLY WANT KNOW SALE OF LICENCE PROVISION WITH CERTAIN EG.(NUMERICAL EG.)
17 June 2009
Dear Sweta
Take it for Granted u have purchased Telecommunication License for 10 years for Rs.10 Lacs, u will get Rs.1 lac as deduction per year (cost of License amortise over no. of years for which lisence valid)
now say after 4 year u sold out some portion of license for Rs.3 Lac, therefore now deduction for 5th year onward shall be
cost after 4 year Rs.6 Lac
Less Sold out portion viz.Rs.3 Lac
-----------
Balance Rs.3 Lac
No. of Year remain 6
Deduction per year Rs.0.5 Lac
(Rs.3Lacs/6 year)
Take it for Granted u have purchased Telecommunication License for 10 years for Rs.10 Lacs, u will get Rs.1 lac as deduction per year (cost of License amortise over no. of years for which lisence valid)
now say after 4 year u sold out some portion of license for Rs.3 Lac, therefore now deduction for 5th year onward shall be
cost after 4 year Rs.6 Lac
Less Sold out portion viz.Rs.3 Lac
-----------
Balance Rs.3 Lac
No. of Year remain 6
Deduction per year Rs.0.5 Lac
(Rs.3Lacs/6 year)
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