A company has acquired plant and machinery, in the py 2006-07 eligible for additional epreciation u/s 32. however company did not take additional depreciation in the PY.
can the company now claim additional depreciation?

is there any provision or judgement which says that additional depreciation can be claimed in the initial year of its acquition only??

Is TDS deductible on Labour charges paid for repairs if ESIC on the same is deducted by the company?

Respected Sirs ,
One of my clients rcd show cause u/s 271(1)b of the act , after rcving we realised that notice was served u/s 143(2) on the wrong address and returned back . since notice was not served in limitation period at the right address , we didnt attend scrutiny proceedings , assessee filed affidavit stating no notice has been received . AO says he will issue show cause u/s 148 . my question is ...can a show cause be issued u/s 148 , when initiation ( by issuing a notice ) of proceedings is commenced u/s 143(2) . can he start 148 before completing 143(3) . His issue is he cant complete 143(3) cos we have challenged his notice and not attending . i told him 144 is a better choice by taking us as assesse in default . Any advices ?

my client (private conmpany) has sold a assest (land & building(wdv)) on which both short term and long term capital gain has incurred.and that company has unabsorbed depriciation from 1993-94,94-95,98-99,00-01,05-06,06-07,07-08,08-09
i wanted a clarification that all the unabsorbed derpiciation belong to above mentioned year can be set-off against current year LTCG & STCG.

If it is possible can u please give reference section & recent case laws and where it is mention in current income tax act

I have referred the Section 32, in that it has mention that we can set-off from any other head,i wanted to know that it includes LTCG ( because it is charged under sepcial rate that is 20%)

Please help me,

Dear All,

One of my client (Individual) had paid for installation of electricity transformers, ownership of which was transfer to mseb immigiatly. Now the subject matter is that, whether is it treated as capital or revenue expenditure?

If it is treated as capital expenditure at what rate depreciation is to be charged?

Pls tell whether advance booking amount against Flats accepted by builders & real estate devolopers attracts 269SS

Dear All,

What is the kind of Gratuity (approved / unapproved)provision that is disallowed u/s 40A(7) and 43B?

In Form 3CD if we disallow gratuity provision u/s 40A(7),do we need to show the same amount in annexure related to items disallowed u/s 43B.

Thank you

I want to know that if my company pay money to our buyer( outside india) for rewarding the work of our supplier ( india) or contractors.

Then what entry i have to provide in my books of account for payment to buyer (outside india) in that matter

Kindly reply me as soon as possible.

My quetion is
Whether TDS should be deducted in case of Hotel Lodging if a person stays in hotel for more no. of days or a person is a regular customer of that hotel & therefore lodging expense of such hotel in the year exceeds Rs.50000 in aggreegate or Rs20000 in single bill.ASSUME THAT THERE IS NO ANY ANNUAL CONTRACT.

Please provide the ans. with examples. If there is any cerculation on the clarification of this quetion please give me the reference.

Thanks in Advance.
Ashwini