100% Deduction U/S 35AD of the Income Tax Act 1961|CASANSAAR 90
Middle Image
   Login  |  Register  |  Forgot Password 
Below Login Ad
All Queries |  Resolved Queries |  Today Queries |  Become an expert Ask Query

Please Help: 100% Deduction U/S 35AD of the Income Tax Act 1961

Posted Date : 16-Jun-2011 , 12:58:41 pm | Posted By: GangadharBadaya

Category : Income Tax | Answers : 3| Comments : 0| Hits: 3151

Assessee is engaged in dealing of preserved goods, agricultural produce and for which theses items have to be preserved in cold chain which is owned by assessee and not providing of any type of cold chain facility can he eligible to claim 100% deduction of plant and machinery under section 35AD

Answers:
   Answer by: CA Richa Gupta
NO. DED WILL B ALLOWED IF HE IS CARRYING BUSINESS OF PROVIDING COLD CHAIN FACILITY OR OTHERS AS SPECIFIED.
   Answer by: CA. Sachin Data
Yes, as per my opinion, the assessee can claim 100% deduction on Plant and Machinery u/s 35AD provided the conditions laid under the section are fulfilled. It is immaterial whether he is dealing in the preserved goods or agricultural produce. If he is having a cold chain facility, then he is elgible to claim deduction.
   Answer by: CA VIKAS JAIN
yes deduction will be allowed, the word cold chain facility means the chain of STORAGE AND TRANSPORTATION of agricultural product etc. BUT in sec 35AD the word cold chain facility means a chain of STORAGE OR TRANSPORTATION... so in my opinion the deduction will be allowed even if he operates the cold chain facility only.
Comments

Search By Categories

More Categories

Hall of Fame for Queries

Name Pic Queries Rank
Rambabu Senkarasetti 569 13
 
Vaneet Gupta 560 8
 
CA Satuti Mahajan 360 22
 
Ashish Karundia 317 9
 
Rishabh Upadhyay 300 20
 

Search Question:

 
 
www.casansaar.com
...keeps you updated

Home

  |  News

  |  Articles

  |  Discussion

  |  CA Firms

 |  Members

 |  CA Community

 |  Jobs

 |  Empanelment

 |  Files

 |  Matrimonial

 |  Students zone

 |  Queries

 |  Classified Ads

 |  Events

 |  About us

 |   Top Members

 |  Coaching Centres

  | Testimonials

 | Judiciary

 | Notifications/Circulars

 | Book

 | eDirectory

 | Interview

 | Website

 | Emails

 | Software

 |  Score Board

 |   Press Release  

 |   Blood Bank  

  |   Opinion Poll  

  |   Feedback

 |   Advertise us

 |   Terms & Conditions

 |   Contact us

 |   Blog

  |   Sitemap

Follow Us : Twitter Icon Facebook Icon Orkut Icon Linkedin Icon

CASANSAAR Updates

↑ Grab this Headline Animator

Developed By: CASANSAAR Copyright © casansaar

Top Accounting Firms,CA COMMUNITY,CA SANSAAR,Chartered Accountant,Ca Networking Firms,Partner Portal,Ca Assignments,CA,Online Communities For Chartered Accountant,Circle For Ca,CS,CMA and FINANCE,Articles By CA / CS / CMA,accounting news articles,Ca Firms In Delhi,CA ANNOUNCEMENT

accounting jobs,article trainees,best website creator,empanelment,income tax slab, ITR, TDS Chart,budget of india 2014-15,gst,auditing,Income tax,students zone,cpt,community matrimony for ca,Classified Ads,Community Matrimony For Ca,Students Zone,Coaching Classes,Company Secretary,Cost Accountant,Judiciary.