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 March 2016 Year 2016 This

Reducing the subsidy for the purpose of calculation of ...

Income Tax

March 4, 2016

Reducing the subsidy for the purpose of calculation of depreciation - When the statute does not contemplate computation of actual cost of assets after it becomes part of a block of assets, Explanation 10 to Subsection (1) of Section 43 of the Act cannot be made applicable to assets of which the actual cost has been determined and forms part of a block of assets. - AT

View Source

 


 

You may also like:

  1. Depreciation - nature of Industrial Investment Promotion Assistance - subsidy receipt should not be reduced from the actual cost of fixed assets for computing...

  2. Depreciation on Capital subsidy - subsidy was granted for the specific purpose of technology up-gradation - for the purpose of computing depreciation allowable to the...

  3. Nature of incentive subsidy - Capital or revenue receipt - subsidy on the purchase of generator set - the same is capital subsidy and should go on to reduce the cost of asset - AT

  4. Determination of cost of assets - Depreciation - Applicability of Explanation and proviso to 43(1) - subsidy utilisation specifically under the head building, furniture,...

  5. No part of the subsidy was specifically intended to subsidize the cost of any fixed asset - Therefore, for the purpose of computing depreciation allowable to the...

  6. Incentive in the form of subsidy cannot be considered as a payment directly or indirectly to meet any portion of the actual cost and thus it falls outside the ambit of...

  7. Claim of Depreciation - Determination of cost of Acquistion - Reduction of amount of entertainment tax subsidy - As entertainment tax subsidy granted by the State...

  8. Taxability of subsidy received under TUF scheme - revenue or capital receipts or reduction in value of fixed assets - to reduce from the cost of asset, the subsidy...

  9. Claim towards exchange fluctuation loss - for the purpose of depreciation, the cost of asset cannot be reduced or increased due to exchange rate fluctuation - allowed as...

  10. 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...

 

Quick Updates:Latest Updates