Subsidy on machinery
This query is : Resolved
26 July 2011
sir, one of my client gets subsidy from govt for machinery , our client purchased machinery last 2 years back and depreciation claimed as per income tax act but this year he gets subsidy what is the treatment and i suggested that deducted the machine value those subsidy but i have a dough about depreciation , i.e. if he gets subsidy before sept what is the depreciation taken i.e. opeing value or after subsidy value please suggest me as early as possiable
26 July 2011
Suppose WDV as on 1.4. 2010 of Machine is 250006
Subsidy received 50006
Charge depreciation on the Balance 200000
Question of more or less than 180 days of use arises at the time of addition.
Subsidy received 50006
Charge depreciation on the Balance 200000
Question of more or less than 180 days of use arises at the time of addition.
27 July 2011
thanks sir for replay and i am satisfied with your suggestion
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
- House Property Reporting in ITR
- TDS Claim year
- Relief u/s Section 89
- Rent lease agreement
- TDS Challan Code
- Merchant Export Accounting
- Supply through E-commerce Operators
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- Lease agreement and tax on sale
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- 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
- 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
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
