LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Goapl Goel   08 May 2009 at 11:53

Query on Sec 80IA of the Income Tax Act

I have the following queries in respect of Sec 80 IA and Sec 50 of the Income Tax Act,1961:

We are running the construction business as well as the Internet business(ISP). We have certain assets like Optical Fiber (OFC) cable , Plant & mach., Building etc in the ISP on which we are claiming the depreciation u/s 32 of the Income Tax Act, now my queries are as under:

1. Suppose we sell the OFC to the third party, whether we have to calculate the capital Gain u/s 50 if we want to claim the 80IA deduction or I have to just reduce the sale consideration of the OFC from the block . I had clubbed the OFC in P&M block and there are various assets and value are available in the block. Pl provide your valuable opinion alongwith the case laws if any.
2. The other remaining assets of the ISP division are being transferred in a scheme of demerger to the resulting co during the year, now can I claim the deduction u/s 80IA upto the period for which undertaking is in my ownership or not. Pl clarify.

Umesh Madhwani   08 May 2009 at 11:45

salary

sunny bagla   07 May 2009 at 22:23

Bar council registration

What is the procedure for the registration under Bar council of India & State bar council after passing the law. Is there is any form for that, if yes then from where i will get the form??

SREEKUMAR   07 May 2009 at 21:48

REGISTRATION OF PARTNERSHIP

Is it mandatory that a firm should be registered under partnership act? if yes with whom?

Manikam   07 May 2009 at 21:25

settlement deed issue of ancestor property

my name is Manikam-from chennai .i have a query .
The father has 8 children, 4 sons and 4 doughter respectively.and the father owned 5 property which is earned by himself during his lifetime.

In 1962 he gifted one property to 4 doughter as a settlement deed.since all the 4 doughter are minor he nominated his wife as a guardian for the said doughters.
and he specifically said,in that will that
he dont have any rights to amend or cancel the same will in future.
and he gifted the remaining 4 property to his 4 sons.

in 1966 the father wrote another WILL cancelling the 1962 will which is gifted to his 4 doghters.and the father gifted the property to his 2 sons(which is gifted already to 4 doughters in 1962)

Now my question is which WILL is valid

1962 - property gifted to 4 doughters or
1966 - will which cancelled the 1962 will.

can the father cancell the first will.if he specifically mentioned in 1962 that he dont have rights to amend or cancel in future .

Rekha.....   07 May 2009 at 21:17

Urgent-Order 22 rule 6

Hello Respected Members of the Forum

Would u please guide us that if Oder passed under order 22and rule 6 of CPC. V decided to prefer appeal for the same. Where V hv to appeal? Before the District & Sessions judge or High Court? Please its very urgent as V hv to file the appeal tomorrow.( the order is against us)

yogesh   07 May 2009 at 20:37

whether permission is required for filing REJOINDER in CAT

Dear Friends,

Please inform whether prior permission is required through Hon'ble Bench before filing the rejoinder in Hon'ble CAT

Regards

yogesh   07 May 2009 at 20:32

Information on allied cases passed by the Hon'ble Courts

The Hon'ble Supreme Court has given judgement in case R.K.Sabhrwal vs State oF Punjab (1995) about the reservation roaster system and has specified that particular seat of certain category (GEN,SC,ST or OBC) will go to that category. For Example if SC Employee retires then seat will have to fill by the SC category only Similarly if GEN Retires the same will have to fill by the GEN seat

Further meaning of posts and vacancies are different

Dear Friends,

If any of you have more information about such allied cases which has been passed by the Hon'ble Supreme Court and Hon'ble High courts then it will be please if you provide me the case name title and Date of judgement so that I can file for certify copies as I need it very Urgently

Regards and Thankyou in anticipation

sunny bagla   07 May 2009 at 19:23

Creating a will

Is it necessary to write a will on stamp paper only or one can write it on plan paper also??

V V SATYANARAYANA   07 May 2009 at 16:23

Registration under VAT & CST

Sirs,

We are doing processing activity in which we process the material and give it back to the owner.As per the agreement the 'title' and 'ownership' of the material given to us for processing is always with the client. This does not attract VAT registration.

Now we would like to undertake trading activity in Bangalore, Kolkata & Delhi.

For this purpose do we have to take registration both under VAT & CST or only VAT registration is required.

Please clarify