Can anyone please help me

It will be added to employee income as perquisites

whole amount Rs.6000 will be taxable...

whole 6000 will be taxable...and gft must be in kind only....

Dear All,

I have query regarding Windmill.

I am working in a Pvt. Ltd. Company, and for the tax benefit purpose in A.Y. 2012-13 I am planning to buy Windmill. It will be purely an investment by taking Loan & Own ie. 30:70(Loan) ratios. We don’t have any ideal fund to invest in this project.   Our Profit will be higher to absorb Depreciation on Windmill this year.

 Following are the Queries.

1.       MAT is applicable to whom? Whether Company/Proprietor/Partnership?

2.       Whether it is beneficial to take in Company’s Name or Individual Name?

3.       Is DTC will impact to Co’s  to avail Tax Credit of MAT ?

4.       How can I avail 80IA benefit ?

5.       MAT Credit can be c/f for how many years ?

6.       80IA available for how many years ?

7.       Depreciation on Windmill as per Co’s Act ?

8.       Depreciation on Windmill as per I.T. Act ?

Regards

Devendra

Can anyone know that case study ask in info-technology in may'11 Pcc exams?

Originally posted by : Shivangi Goswami
	Can anyone know that case study ask in info-technology in may'11 Pcc exams?

I think no ...........!!!!!!!!

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whole of Rs.6000 wil be taxable..

Yes, the perquisite value would be the market price of the gifted article. However, if the value of such gifts up to Rs.5,000 in the aggregate per annum would be exempt, beyond which it would be taxed as a perquisite. Gifts, which are made in cash or convertible into money (eg. Gift cheques) are not exempted.

it will be 1000 taxable as per perquisites rule 3(7)(iv) while in case of cash gift the whole amount is taxable