My friend is from Assam having a salary below Rs. 3000. He wants a PAN card as he does not have any proof of his staying in Mumbai. If after receiving PAN is it compulsory to file return

Hi,

Wanted to understand the provisions of INCOME TAX ACT for depreciation in following situation:

If we have purchased any asset, and it is ready to use, but it is not put to use, whether the depreciation should be charged on the same?

For eg., our company has purchased a licenced software to be used in new product. The software cost will be depreciated in the due course.

The product in which it is to be used is under developement, and not yet ready. Hence, the software can also not be used till the time the product is ready.

In such a situation, what is the depreciation treatement for the software licence cost?

Regards,
Rajen

IS IT NECESSARY TO DEDUCT TAX IN CASE CLIENT GIVES PAYMENT OF FLEX PRIENTING WORK,WHERE PRIENTING MATERIAL IS NOT BELONG TO CLIENT?

What is the monthly exemption limit for food coupons or foods provided in side the business premises to the employees?
Is the expenes taxable under FBT for the employer?
Regards,
Debasish.

Is distribution of note-books to students studying in municipal school is charitable activity/donation if the object of trust is stated as education and other charitable activity
what to do if CIT denies registration stating that it is a donation and not charitable activity.

in a pvt. ltd. co. during the year 07 - 08 rs. 37000/- was stallen, out of building premises.FIR files in local police station. so this exp. allowed in enpenditure or not.

party 1 has raised a Performa Invoice for Rs. 5,00,000 and then a final bill for the same amount.
Now, Party 2, to whom the bill is raised has paid TDS for both for the Proforma Invoice and the final bill.
So, what are the consequences and how can they be solved.

SERVICE TAX LIABILITY IS ALSO INCLUDED

Rebate on agricultural incom calculation & the sections

Any individual having no taxable income, has to file its income-tax return. What is the last date of filing it. If the said return is not filled before due date, is there any penelaty or interest. Is there any compulsion of filing return for any individual having no taxable income.

What do you mean by MAT ? Explain all its features in detail and when it is levied.