Depreciation

Hello Experts,

1. Can I get the IT Act Section for Additional Depreciation for P&M for the first year of instalation.

2.We are using Trucks for shifting Materials from work site to required area, the payment is made on trip Basis. How can we treat this transaction, as rent or contract for TDS purpose. Further any Service Tax impact on this under GTA.

3. We use Cranes & JCB in site, payment of this how to be treated as rent or as contract.

Regards

Praveeri.

Replies (2)

1. Can I get the IT Act Section for Additional Depreciation for P&M for the first year of instalation.

Ans: Section 32(iia)

Originally posted by :Praveeri
" Hello Experts,
1. Can I get the IT Act Section for Additional Depreciation for P&M for the first year of instalation.
2.We are using Trucks for shifting Materials from work site to required area, the payment is made on trip Basis. How can we treat this transaction, as rent or contract for TDS purpose. Further any Service Tax impact on this under GTA.
3. We use Cranes & JCB in site, payment of this how to be treated as rent or as contract.
Regards
Praveeri.
"


 

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