Treatment u/s 32 ac(1a)
This query is : Resolved
03 July 2015
Dear Sir (s)
The Company is eligible for Investment Allowance U/s 32 AC (1A) of Finance Bill, 2014. Please advise if they need to make the provisioning for the same in the Balance Sheet or it shall only be incorporated in the Income Tax Computation at the time of filing of return?
Thanks
Anurag Aggarwal
The Company is eligible for Investment Allowance U/s 32 AC (1A) of Finance Bill, 2014. Please advise if they need to make the provisioning for the same in the Balance Sheet or it shall only be incorporated in the Income Tax Computation at the time of filing of return?
Thanks
Anurag Aggarwal
03 July 2015
Investment allowance u/s 32AC is only a deduction for computing taxable profit under PGBP. No reserve needs to be created out of profits like it was required in the past.
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
- About TDS & Income Tax
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Scrutiny and reopening of past returns
- Type of Capital Gain
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- Accounting with Claude
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- 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
- Taxation in the hands of Landowner under JDA
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
