Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights July 2014 Year 2014 This

One time vehicle tax paid on purchase of vehicle - the tax ...

Income Tax

July 24, 2014

One time vehicle tax paid on purchase of vehicle - the tax levied by the Act would form part of the actual cost of the motor car, a capital asset, on which the same is levied, and exigible to depreciation as a part to the actual cost - AT

View Source

 


 

You may also like:

  1. Liability to pay tax under the U.P. Motor Vehicles Taxation Act, 1997 - the requirement under law is to first pay the tax in advance as provided under Section 9 and...

  2. Availment and setting off of Input tax credit (ITC) - purchases of demo vehicles - car dealer - The demo vehicles are purchased all along for further supply with the...

  3. Depreciation - Cost of acquisition - depreciation to be allowed on WDV of the predecessor or Revaluation of assets - Conversation of firm to a company - The assessee as...

  4. Levy of GST - Valuation - determination of margin - old and used motor vehicles - claim of deduction of cost incurred on refurbishment from the margin - It is noticed...

  5. Classification of imported goods - Parts of seats of motor vehicle (parts of part) - import of child parts - It is undisputed that child parts used for making parts...

  6. Demand of Motor Vehicle tax based on local price of similar vehicle - in a case where the figures shown in the purchase invoice are not in any manner manipulated, and is...

  7. Refusal to honour the liability of paying the service tax (on the part of LIC) - Renting of immovable property to LIC - It is to be borne in mind that the LIC being an...

  8. Purchase Scrap/Used vehicles from Unregistered Dealers by Composition dealer - Reverse Charge Mechanism - Composition Dealer purchasing Scrap/Used vehicles from the...

  9. Sales tax set off as deduction u/s 43B - whether the set off or adjustment amounts to deemed payment? - When the assessee purchases raw materials, it is liable to pay...

  10. Eligibility to make adjustment of excess service tax paid against future service tax liability - Claim of Excess service tax paid due to issuance of revised invoice -...

  11. Detention of goods alongwith vehicle - E-Way bill stood expired - - This Court already held that there is no lack of bona fide on the part of the writ petitioner in the...

  12. Depreciation - Determination of WDV - Cost of Acquisition - waiver or write of loan - the manner of repayment of loan cannot affect the cost of asset. The actual cost...

  13. Levy of purchase tax payable - purchase of turmeric - Section 12 (2) of the Tamil Nadu Value Added Tax, 2006 - There was a paradigms shift from TNGST Act, 1959 when...

  14. Purchase tax paid in the State of U.P. Reassessment - Adjustment of tax paid on purchase of paddy - the purchase tax paid in the State of U.P. cannot be adjusted against...

  15. Input tax credit (ITC) - Demo vehicle purchased - There is clear provision in law for admissibility of Input tax credit on motor vehicles in any of' the three conditions...

 

Quick Updates:Latest Updates