A private limited company acquired in 1986 commercial property which consists of open land and building thereon. It has let out the entire said property to one tenant and is earning rental income from this property.
The company has also been claiming depreciation on the said property.
The company does not have anyother income.
The company wants to sell the property. Can the company be exempted from paying Capital Gains Tax if it reinvests the sale proceeds in another commercial property? If yes, what are the conditions to be complied with?
Thankyou

Sir, As the law provides that a basic exemption limit of Rs. 10lacs is availble to every person liable to pay service tax... Is the same avialble for the service receiver in case of service received from outside india....Or he has to pay service tax from 1st payment itself ....?

There are two business units : One Manufactruing Unit (Under Construction) Second Trading Units (Started Trading)

In Case of Manufactruing Unit (Under Construction), all the expenditures trfd to CWIP for capitalization nothing debited to PNL

In Case of Trading Units (Started Trading)
There is no any revenue generated but there are some expenditures like Office Rent, Telephone Exps, Travelling Exps, Salary and other Admin Exps and Depreciation on Computers, Car, Office Equipments.

My simple questin is ??
whether all the expenditures of trading units will be allowable and loss will also be allowable to carry-forward.

Have any case law in this regard?

I'm a PCC student having my exam in May2010.I did'nt attend any coaching classes and not yet started reading as well. I'm really afraid if self studies would be fruitful and if i can complete my syllabus before May. Kindly guide me.

can u give me any article or case law on the following issue

our company having lot of units of which two are eligible for 80IB

we are claiming the 80IB deduction

in over all because of difference between income tax and companies act depreciation we are having carried forward of loss to set off against future income

my query is whether we are eligible to claim the unabsorbed depreciation loss as per AS 22

hello everyone . i m cwa qualified. i just wanted to knw wat are the course which i can pursue in finance & accounts along with my job which can help me in future. plzz help me .....thnk u in advance

We have a commercial complex and leased out to two tenants. They gave interest free security deposit. We have invested this amount in our business. When they vacate the building, we can return the same amount without interest.

My question: Is the interest part of this Rental Security Deposit is applicable for Service Tax?

sir, one of my client is warehousing corporation where these house store grains & wheat, rice etc. to their godown. they get all the said items through transport of goods by road and they paid transport charges to the transport agency. kindly let me know that any abatement can the corporation take ? i think 75 % abatement is availbale on transport on goods by road.

HI SIR/MADAM,

ONE OF MY CLIENT PAYING THE RENT FOR THE ACCOMMODATION TAKEN FOR ONE OF THE CONSULTANTS OF THE BUILDING CONSTRUCTION, THEY DIDNT START THE OPERATIONS OF THE BUSINESS'''''' STILL BEING IN PROGRESS OF THE CONSTRUCTION OF THE BUILDING,,,,,,ARE THEY OBLIGED TO DEDUCT TDS ON RENT OR WHAT /////THEY ARE SHOWING THAT EXPS AS PRE-OPERATIVE EXPENSES....PLEASE CLARIFY...TNKS IN ADNCE....

A company is redeeming its Preference Shares by paying a premium of 50% on the face value of each preference share. what's the accounting procedure for the above and can the company book the redemption premium as expenditure. If so in how many years?