Sir,
I request you to please solve my problem as given below-
One Corporate is having Manufacturing unit and Trading
unit also. That corporate prepared joint Balance sheet
& Profit & Loss account. As given below -
Corporate
1
2
Manufacturing Unit
Trading Division
Annual Profit by sale of product
Annual profit by sale of Product
Manufactured with the help of
out sourced from open market for
Fixed Assets ( Land,Building,Plant & Rs.150
Crs and sold for Rs.200Crs.
Machineries of Rs.100 Crs.
Net Profit – Rs. 5 Crs.
Net Profit -Rs. 50 Crs.
Total Income by clubbing both - Rs.55 Crs.
But –
that Corporate can avail depreciation Rs. 5 Crs only and
rest amount of
depreciation may be forwarded to next year.
Because depreciation is meant for
actual uses of Fixed assets. Otherwise Corporate
used to increase the value of
assets by over billing just to get benefit of
depreciation from the income .
Income from trading may be manipulated easily but
not from manufacturing.
- 0 Answers
- 1703 Views
- I also Faced
- E-Mail Answers
No Answer is Posted For this Question
Be the First to Post Answer
we have a licence of manufacturing himachal pradesh, so can we export raw material by purchase from our local vendor by issue of form H to the local vendor ?
You are request to reply these quieries, are below mentioned statement are true? (1) Deduction in respect of maintenance including medical treatment of a dependent who is person of disability shall be allowed to a non resident in India. (2) Only 35% of income from growing and manufacturing of rubber is liable to tax. (3) A business loss can be setoff against income from speculation business but loss in respect of speculation business can only be set-off against income of another speculation business. (4) Remuneration received by Member of Parliament are taxable under the head “profit and gains from business or profession. (5) Zero coupon bond shall be treated as “short term capital asset” if held for more than 12 months but not more than 36 months.
How up-to-date is the ?Case Lookup? information?
Your client is determined to take a case to court even though you believe he has no chance of winning and have advised him strongly not to do so. What do you do?
What does it mean to 'take' another's car?
Is it possible to stock transfer stock between two company of other state with some agreement without paying cst if yes then witch kind of agreement requard
Please refer me the provisions of section 37 of Partnership act,1932
What do you know about Anti Rape Law?
0 Answers State Bank Of India SBI,
What effect on the whole of society does someone crashing into a lamppost have?
Howmany members are there in security council ?
what is writ of habes corpus?
What you think about Protection of Women from Doemstic Violence Act, is it in favour of women or is it patial law?
-
Law AllOther (806)
