Loom hours
Sumiti Jain (FP) (1364 Points)
13 June 2011
Can anybody tell me the meaning of Loom Hours under the head Capital Gain of Income Tax Act.
2 Replies
(Guest)
In todays time Loom hours is a outdated concept. It existed when Govt. used to give licences to textile industry for manufacture of fabric etc on number of hours basis. Suppose X Ltd is given 1000 hours for 10 days , X ltd used 700 hours in 10 days. The remaining hours were transferable. Since no cost was paid for acquiring this right, therefore it was called self generated assets whose COA is deemed to be nil.
Recent Topics
- Share office desk in bkc, near family court
- 80D claim for payment paid by parent
- TDS on purchase of Flat under subvention scheme be
- Nznxnc call me at the end of the day of the
- Nsje snswk fjw ed le ene djff ne enje ejdd rejje
- Hxjcif the day I have been in touch with me and
- Iska djd djrbdsjebshe sir ur rei ejr reinr the jr
- GST registration for medical shop in Karnataka
- Hsshs me know if you are free number of the
- Chu Kang and the situation of the situation and I
Related Threads
CAclubindia
