What is the tds liability in this case under which tds provision?
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Adarsh AgrawalIntermediate
Suppose opening WDV 10L, machinery purchased in December 5L, and sold that new machine in january for 13L. What is the rate to be charged on closing WDV of 2L machinery. And why?
Wasif KalimIntermediate
The maximum deduction allowed to Family member — <60 yrs———-Rs.25000/- >60 Yrs———Rs.50000/- For Parents <60 yrs———-Rs.25000/- >60 Yrs———Rs.50000/- If total Premium paid Rs.1,30,000/- What will be the amount of total deduction allowed in——- i) Assessee and Parents are senior citizen ...
Priyanka VanjaniIntermediate
Source- ICAI MTP PAPER 6C April’22 Equalisation levy is governed by Finance Act. Hence it won’t get affected by DTAA provisions ( when we determine more beneficial provisions out of DTAA & IT Act, 1961). Ans to MCQ no 4 is (d). ...
Source- ICAI CS Digest ( International Tax- 6C) CS- 18; MCQ No 3 Chapter XII states that if TDS deducted at a rate lower than 10% iro royalty/ FTS( approved by CG), by availing beneficial provisions of DTAA, then no exemption from ...
As per BB sir, 80RRB cannot be claimed against income taxable as per 115BBF but as per VG Sir, it can be claimed. As per sec 115BBF, expenses are not allowed to deducted but 80RRB is income-based deduction. Didn’t find ...
Source- ICAI MCQ Booklet MCQ 1.5 Ad per 45(3), in case of transfer of Capital asset by partner to firm, FVOC=BV recorded in by Firm. Sec 55 stipulates that Cost of Acquisition of Immovable property acquired on or b4 01.04.2001 shall be ...
Priyanka VanjaniIntermediate
Source- ICAI MCQ Booklet Q.17.3 For calculating Depreciation on computers, shouldn’t we capitalise the interest expenditure incurred between 15.05.2021-15.10.2021, coz asset was purchased on 15.05.2021; & interest to be expensed off to P/L should be the interest incurred from 15.04.2021 to ...
