Re: Profits & Gains of Business or profession
by [312] Guest on 24-Dec-08, 09:42 AM
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Dear Sir,
I want ask a Quetion
Is expense More than Rs 20000 for paying electricity expense is allow or disallow?
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Re: Profits & Gains of Business or profession
by [312] Guest on 29-Dec-08, 10:14 AM
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Yes
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Re: Profits & Gains of Business or profession
by [312] Guest on 03-Jan-09, 06:40 AM
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yes it is disallowed for paying elec bill in cash of more than Rs.20000
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Re: Profits & Gains of Business or profession
by [312] Guest on 29-Jan-09, 06:51 PM
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Que No. 6
Bill No. 1 15000/-
Bill No. 2 15000/-
Bill No. 3 18000/-
Cash paid of Rs. 48000/- on 1.1.2009
Ans. 40A(3) not Attracted.
My Question is
1. what will happen when Bill No. 3 Amt. 21000/- and rest of the question remains same.
2. what will happen when Bill No. 3 Amt. 21000/- and payment is of Rs. 51000/-
Kindly answer my question because for same type of question Mr. T. N. Manoharan is of the view that section will get attracted in your question.
Thanking you.
Regards
Nitin Maheshwari
C. A. Final
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Re: Profits & Gains of Business or profession
by ANKUR [1] Member on 23-Feb-09, 05:00 AM
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Dear Friends,
An undertaking engaged in developing and building Housing Projects shall be eligible to claim deduction under Section 80-IB of Income Tax Act 1961 subject to certain conditions. One of the conditions for claiming deduction is:
Condition : The built-up area of each residential unit should be subject to the following maximum limit -
I) Within the cities of Delhi and Mumbai: 1000 sq. ft.
II) Within 25 Kilometres from the local limits of Delhi & Mumbai: 1000 sq. ft.
III) At any other place: 1500 sq ft.
My query is related to above condition:
i. If an undertaking is developing housing project in NH-58, (situated within 25 Kilometres from the local limits of Delhi but within municipal limits of Other City). In which clause it is covered of Condition ?
ii. If area of some of the residential units exceeds the abovesaid limit of 1000/1500 sq ft, t is there any provision for proportionate deduction?
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Re: Profits & Gains of Business or profession
by RAVEESH [3] Member on 18-Jun-09, 08:34 AM
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why profits from securities are not speculative ????
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Re: Profits & Gains of Business or profession
by [312] Guest on 09-Jul-09, 01:52 AM
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Re: Profits & Gains of Business or profession
by [312] Guest on 22-Jul-09, 10:19 AM
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Is there any difference between municipal limits and municipal corporation limit
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Re: Profits & Gains of Business or profession
by [312] Guest on 01-Sep-09, 12:42 PM
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Prior Period expense disallowed u/s?????
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Re: Profits & Gains of Business or profession
by [312] Guest on 04-Oct-09, 06:43 AM
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