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)
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Stamp Paper for partnership firm change new income tax 2025
- Capital gain from sale of house property
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- TDS on Purchase of Immovable Property by NRI from NRI
- FORM 26A APPLICABILITY
- SFT Cash Deposit in Current Account
- Annual return in Gst
- When TDS on GST applied
- 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
- Address Change to another state of a Registered Trust with 12AB approval
- Updated return in budget 2026
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
