S R RESORTS LTD. IS A COMPANY RUNNING HOTEL, BANQUET HALL AS WELL AS RESTAURANT BUSINESS.
IN RESTAURANT DIVISION IT USES VARIOUS KINNDS OF KITCHEN INSTRUMENTS (MIXER GRINDER, MICROWAVE OVEN, DEEP FRIDGER, COKE REFRIDGERATOR ETC.) TO PREPARE AND PRESERVE DISHES.

NOW MY QUERY IS;
WHETHER SUCH KITCHEN INSTRUMENTS WILL FALL IN THE CATEGORY OF "PLANT & MACHINERY" FOR THE RESTAURANT BUSINESS ?

IF YES THEN WHETHER COMPANY CAN CLAIM ADDITIONAL DEPRECIATION OF 20% U/S 32 ON ADDITIONS UNDER KITCHEN INSTRUMENTS.

Is there any information is required in tds deduction u/s 195, if yes how to furnish and in which forms ?

Incoem tax return filling compulsory under income tax act if tax payable is zero.

Pl reply.

What is Unique Transaction number & how it will be obtain?

Unique Transaction number is require to mention in Form 17 while making payment so how it will be obtained.

An NRI as per Income tax act is remitting money from salary earned abroad to his ordinaly SB account maintained in India

Is it necessasary that he maintain an Non resident account in the bank in India in order to claim his remittances as not taxable? Kindly quote circulars /references/sections if any.



Thanks ,

Anil.

Dear All,

I have a query which i am putting here as below:-

I have a house property as self occupied acquired 5 years ago.

I have entered into a purchase agreement with a builder regarding purchase of a flat in a under construction building.I will get the possession after 6 months from now.

I have a plan to sell my existing self occupied property and i want to avoid LTCG on the same.

As per section 54 of Income Tax Act, I can purchase a house property "one year before the date of transfer" to avail exemption of LTCG.

In my present situation as discussed above, my questions are as below:-

a) Will i get exemption under section 54 of Income Tax Act for my booking of A FLAT in a under construction building. Will it be a "purchase" and not construction so as to qualify for "one year before the date of transfer" cretaria ?

b) What will be the "date of purchase" ? Will it be the date of buy agreement or the date of getting possession ? This is relevant because accordingly i will plan the date of sell to qualify for exemption under section 54 of income Tax Act.

If answeres are based on any Rulings/circular, please indicate some reference so that i can retrieve the same.

Thanks

Subhash Sinduria

Dear all,
I have made TDS payments using NSDL. I have the payment details BSR Code, Challan No. etc. But in form 16 I am supposed to quote acknowledgement nos. How can I get these nos. Please help

Dear All members,

What is the last date to deposit the tds for march09 and also what is the last date to file the return of last quater.

Thank you

Hi ! Friends
Can anyone tell me whether the depreciation is to be mandatorily charged on a plant which is being used for one year and thereafter due to the shut down it has not been in use for the previous 4-5 Assessment years.
What if the assessee dont want to claim depreciation.

Thanks in anticipation

Dear Experts

I am a indiviual resident of India, working as software developer in a private company.

I had expenditure Rs 2.5 lac towards my father's bypass surgery (CABG). My father who is retired govt. servant, aged 62 years and is dependent on me.

Can I claim this expediture under sec 80DDB? Does CABG (Bypass Surgery) mets with disease?

Please reply at the earliest. You can contact me at Udayaravi_Patil@shamsgroup.com

Thank you