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CONCEPT OF ALTERNATE MINIMUM TAX
Monday, April 16, 2012
DEFINITION OF SERVICE AS PROPOSED IN FINANCE ACT 2012
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DEFINITION OF SERVICE AS PROPOSED IN FINANCE ACT 2012
DEFINITION OF SERVICE AS PROPOSED IN FINANCE ACT 2012
Friday, April 13, 2012
Tuesday, April 3, 2012
80% Depreciation on Wind Mills - No More after 31-03-2012
Income tax department has issued following notification restricting the rate of depreciation allowable on “Wind Mills” installed after 31st March, 2012 to 15% only, which is the normal rate of depreciation on Plant and Machinery.
Thus, income tax department has withdrawn the incentive given for installation of Wind Mills by providing 80% depreciation. This is a major change in respect to Wind Mills industry as it was a major USP in setting up wind mills.
Following is the link to the text of notification.
CA Amit Mundhra
80% Depreciation on Wind Mills - No More after 31-03-2012
Rajasthan VAT - Due date for All returns for the financial year 2010-11 extended upto 30-04-2012
Rajasthan government has extended the due date for all returns under Rajasthan VAT Act for the financial year 2010-11 upto 30th April, 2012vide notification no. F.16(375)Tax/CCT/2006/543 dated 02-04-2012.
This is a good opportunity for dealers who are still to file quarterly / annual returns for the financial year 2010-11 or who have submitted these returns late.
Click Here for More Details: Rajasthan VAT - Due date for All returns for the financial year 2010-11 extended upto 30-04-2012
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