Dear Members,
Are there any Provisions for Plant or Furniture which are similar to the Concept of "Deemed building" under Explanation-1 to Sec-32 under the IT Act? If not then how will the capital expenditure made by a person on Plant which is taken on rent by him be dealt with under the IT Act?
Regards,
Souvik Ghosh
HKC | Chartered Accountants & Business Advisors
Ludhiana
CA
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N N V Satish & Co.,
Hyderabad
CA Inter
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Fytomax Nutrition Private Limited
Aurangabad
CA Inter
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M N Rao & Associates LLP
Vijayawada
CA Inter
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CCI
Pro
CAclubindia
