I have heard that for nov 17 exams of direct tax if there is any asset charged at more than 40% depreciation then the rate is restricted to 40% only.. Is this amendment correct... Will it be applicable for coming attemp?
I have heard that for nov 17 exams of direct tax if there is any asset charged at more than 40% depreciation then the rate is restricted to 40% only.. Is this amendment correct... Will it be applicable for coming attemp?
the said amendment is effective from 01.04.2017, but the same has not been included in supplemeentary amendment book & rtp amendments!
https://www.incometaxindia.gov.in/communications/notification/notification103_2016.pdf
| Originally posted by : Sumati Bengani | ||
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the said amendment is effective from 01.04.2017, but the same has not been included in supplemeentary amendment book & rtp amendments! https://www.incometaxindia.gov.in/communications/notification/notification103_2016.pdf |
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Applicable for Nov-2017 CA Final Exams.
The said notification is covered under Annexure to the RTP, Page No. 71/98 of file or printed 111. https://bit.ly/2h67wry
Normal rate of depreciation restricted to a maximum of 40% that can be claimed as deduction under section 32, in case of a domestic company opting to pay tax @ 25% under section 115BA.
Here I am also attaching the PDF file for Amendments that were not applicable for May 2017 Exams but are applicable for Nov 2017 Exams)
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