Start up business nature and eligibility

Others 232 views 6 replies

Praveen Chavda

7 Points Posted on 20 April 2020

in a situation a start up formed for the purpose of sale of used Earth moving Machinery and Equipment and Heavy Vehicles bought from any where and India and made available to customers any where in India.
This enables Customer of any where to get the machine/equipment of his choice at his place on a web site or by physical verification at a located place of sale in India.

the customer get choice and price of his affordability.

whether this nature stands eligible for start up business to avail the incen
tives

prescribed in the Govt scheme.

for more detail request please contact me.

Praveen Chavda
Raipur
9111354300

Replies (6)

yasaswi gomes

My grammar is 💯 good I

7301 Points Posted on 20 April 2020

Capital allowances can only be claimed on plant and machinery that is owned by the business. The inventory your talking about, like earth moving equipment and trucks for sale online at any physical location is not a qualifying expenditure to claim allowances. But, since your starting up a company, you will be qualified to get incentives if you check online. For example, https://cleartax.in/s/additional-depreciation-income-tax-act

Praveen Chavda

7 Points Posted on 20 April 2020

What I wrote is a business model.
to run that business model we will have building
comouters
phone
air conditioner
transport vehicle for employees.

So, since u r aware it require a eligible business model have creativeness to claim the incentives, please Inform said business is a creative one to become eligible one, is my query.

yasaswi gomes

My grammar is 💯 good I

7301 Points Posted on 20 April 2020

Yes. It is the right business model. Building, computers, air conditioners, vehicles etc are qualifying expenditure. You need an auditor to find out what equipment you can get incentives for. Because I’m not sure about telephone. So, they will be able to assist you in giving you the list of equipment that you can get incentives or allowances for. All the best.