Hello Everybody,
I have a query regarding Depreciation in case of a Co. The co. did not charge Depreciation in the year 2006-07 on new addition to Plant & Machinery. How to calculate the Depreciation for 2007-08 ?

Is it necessary to charge Depreciation for 2006-07? What is the recourse in this case.

Respected Sir,

With referce to above subject, I want know Dematerlise Form 16 A which is implemented w.e.f 2010

I want know Form 16 (Dematerlise) will be issued by Income Tax Department or NSCL ?

With best regards,


Vilas Chouhdari

Rs. 10000/- TDS deducted on Contract payment. This 10000/- have to deposited before 7th of June, 2008. Is it compulsory to deposit this TDS in a single Challan of Rs. 10000/- or we can deposit in 2 different challan for Rs. 5000/ -each?

Can any body tell me about Form 13,(lower deduction/no deduction

One of our client has entered into a sale agreement (without giving possession)to sell a site for Rs.10 lacs and received advance of Rs.2 lacs with a condition that the balance has to be paid at the time of registration and the registration has to be done on or before 2 months from the date of sale agreement. Rs.10 lacs is also the value fixed by the stamp valuation authority on the date of sale agreement. But the valuation authority has increased the rate to Rs.20 lacs by the time of registration and the stamp duty is paid by the buyer on rs.20 lacs. The seller has received the balance Rs.8 lacs at the time of registration.The seller has paid the long term capital gain taking the consideration as Rs.10 lacs. The case is selected for scrutiny. Now the ITO has raised a tax demand taking the sale consideration as Rs.20 lacs as per Section 50C? Is there any way out for the client to argue that the sale consideartion has to be taken as Rs.10 lacs instead of Rs.20 lacs? Are there any case laws on the above subject?

One of our client has entered into a sale agreement (without giving possession)to sell a site for Rs.10 lacs and received advance of Rs.2 lacs with a condition that the balance has to be paid at the time of registration and the registration has to be done on or before 2 months from the date of sale agreement. Rs.10 lacs is also the value fixed by the stamp valuation authority on the date of sale agreement. But the valuation authority has increased the rate to Rs.20 lacs by the time of registration and the stamp duty is paid by the buyer on rs.20 lacs. The seller has received the balance Rs.8 lacs at the time of registration.The seller has paid the long term capital gain taking the consideration as Rs.10 lacs. The case is selected for scrutiny. Now the ITO has raised a tax demand taking the sale consideration as Rs.20 lacs as per Section 50C? Is there any way out for the client to argue that the sale consideartion has to be taken as Rs.10 lacs instead of Rs.20 lacs? Are there any case laws on the above subject?

please explain Me About Foregone of salary

if It is possible then mail at

sanket_ca_shah@yahoo.com

Employee is residing in USA. We are paying salary from India. He is incurring local travel expenses there and send us the bill for reimbursement.Can our company have to pay FBT on these expenses which are incurred in USA?

I m in construction industry.we receive advance against booking from customer on booking a space on our Mall.Is there any contravention of Law ,If any party directly deposit booking amount in company`s bank account.we obtain all documents eg PAN card etc.

Dear Seniors

Our Client is having their own Approved Gratuity Trust set up.

As per their Internal proces they pay gratuity to resignees even they have not completed the 5 years of Service.

Will such gratuity will qualify for tax exemption under section 10(10)(ii) or 10(10)(iii).

Kidnly help me out so that I can advise them.