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 ?
CAclubindia
