27 May 2008
If ur calculating depreciation as per company act Rate for mobile phones is(COMPANY ACT=13.91%) =Asset cost*rate/100*no of days used/365.
If ur calculating depreciation as per Income tax act :If asset is used for less than 182 days u can claim 1/2 of rate applicable for depreciation.. Rate for mobile phones is(IT ACT) 15% (7.5% if used for less than 182 days)
29 May 2008
Do we have to pay corporate tax on revenues earned from abroad assignments. we are a pvt ltd co. registered in india. we expect a revenue of around 2 crores from abroad assignments and 25 lac from indian assignments. our expenses for this fin yr cud be around 25 lac. what is my corporate tax liability.
30 May 2008
sec 10AA provide tax exemption to service exporters (which u are), but for that a company shud be established in SEZ and shud start working on or after 01.04.05 in that SEZ.
but i think, this is not ur case, so perhaps there is no exemption in income tax for u this time. but let other experts give their opinion.
CAclubindia
