treatment the same in audit.

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..... treatment the same in audit.
Query (Issue) Started By: - ashok joshi Dated:- 6-1-2011 Last Reply Date:- 8-1-2011 Income Tax
Got 1 Reply
Income Tax
dear sir, sub- income tax Mr. Love i .....

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..... mport a machinery from japan worth Rs. 1 crore., but that such machinery\'s there is no such operator in india., so, Mr. Love say to him(exporter) please provide me a operator for the same because of .....

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..... their (india) is no operator., so, he (exporter) provide his employee for the same for 1 year agreement/contract for Rs. 10 lacs. now Question is arise that what will be the total value of machinery .....

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..... ? what will be the value revenue and capital expenditure ? what will be treatment for the same ? Rs. 10 Lacs will be shown under which head and either this expenditure is capitalizes or not ??? co .....

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..... ntact - [email protected] with regrads Ashok Kumar Joshi Reply By CA Rachit Agarwal: The Reply: Rs. 10 Lacs will be revenue expenditure. It is immaterial that whether the machine is run by the .....

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..... reisdent or non resident. However if Rs. 10 Lacs is paid under Trial production phase, then it would be capitalized. Further if the business does not commences withing that period then only the Rs. .....

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..... 10 Lacs would be capitalized.
Discussion Forum - Knowledge Sharing .....

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