Income tax query

consumables 

as tarpauline is not a part of plant and machinery, and it get damages faster, also does not find resale value of damaged tarpauline, so its revenue expenditure, but in case of stock at end of year, u can keep "consumable stores value for unused portion" in balance sheet assets

i am agree with mr sharma tarpauline is not a capital items so it trerate as revenue exp debited to profit & loss accounts

Can any1 plz tel me what is taxabilty in case of mutual fund which is counted as units and we also took ded'n U/S 80-C, eg. i am investing Rs.10000/- per month in Max New York Life Insurance and for tht i am getting accumlated Units for each premium. So on maturity what abt taxabiltiy 1)if i shown in Assets 2) if i debited to cap a/c every year. And tell me whether it is fully exepmt from tax?????? plz rly soon.........

A Pharma Company Makes the payment to doctors in name of Academic Aid . Is any TDS libility arsies on this ?Is any Case Law ? Is this type expenditure allowable undre Income Tax and if Yes under Which section. As an Auditor under tax Audit or in company Audit what Remarks/Observation to be given.