Profits from windmill power generator
This query is : Resolved
24 March 2012
Mr A , an asseseee had set up an windmill unit in the year March 2007. Till now he has not paid any tax due to carry forward of depreciation lossess.
However from the current year he will be showing good profits. Can he claim exemption u/s 80ia for a period of ten years.
Please reply.
However from the current year he will be showing good profits. Can he claim exemption u/s 80ia for a period of ten years.
Please reply.
24 March 2012
YES DEDUCTION CAN BE CLAIMED UNDER SECTION 80-IA THE DEDUCTION CAN BE CLIMED FOR 10 YEARS OUT OF FIFTEEN YERAS FM THE YEAR IN WHICH IT STARTED GENERATING POWER
CA MANOJ GUPTA
JODHPUR
09828510543
CA MANOJ GUPTA
JODHPUR
09828510543
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Adjustment entry in the case of Individual and HUF on 31st March
- Stock difference tax applicable on composite rate or normal rate
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
