Sec. 115BA Companies : Depreciation Fixed at 40%

CBDT has notified the maximum depreciation rates for newly set up companies and claming tax rate of 25% as per section 115BA of the...
fee to ROC

Payments to ROC for Increasing Authorised Capital is Revenue Expenditure & Allowable ...

The general answer to the question in title of this post i.e whether the payments made to ROC to increase the authorized share capital of...
New Rule 8D

Rule 8D Changed & Notified ! Good for Many & Bad for Some .

Section 14A of the Income Tax Act is one of the most abused law of land . The abuse of the law is more...
depreciation

No Depreciation Claimed on Business Asset ? No Application of Sec. 50 Then !

Under Income Tax Act , sale of a business asset on which depreciation is claimed is affected by the provision of section 50 of...
section 43CA

Section 43CA: Stamp Duty Valuation on Sale of Flats or Lands Held as Stock...

Assessment year 2014-15 maybe quite bothersome from builders and real estate traders as till 31/03/2013, they were not bothered about the stamp duty valuation...
depreciation

Depreciation Can be Allowed Even if Plant Machinery Not Used During Year !

Depreciation on plant & machinery  is allowance to be reduced as per section 32 of the Income Tax Act .Apart from the ownership ,...
section 14A

Section 14A Not to Apply if No Exempt Income Received , Special Bench...

After five years of wait , finally , ITAT Special Bench order in case of Cheminvest Ltd vs CIT 121 ITD 318 (Delhi) (SB)...
disallowance u/s 40(a)(ia)

Disallowance u/s 40(a)(ia) or Demand u/s 201 Can’t be Resorted for Non Filing of...

Disallowance  u/s 40(a)(ia) is provided if the  expenditure is related to a provision under which tax was deductible and either tax was not deducted...
depreciation on building

Is Depreciation Allowable on a Building Given on Rent during the Year ?

It happens that a business entity having certain buildings as business asset , is rented out during the year . Say a business entity...
section 50

Section 50 Not Applicable if No Depreciation Was Claimed on Business Asset !

In case of sale of business assets on which depreciation under section 32  is available and claimed   , there is special provision under section...

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