No depreciation on development of roads/highways on BOT basis; development exp. to be amortized - CBDT clarifies

Posted Date : 23-Apr-2014 , 09:08:23 pm | Posted By CASANSAAR print

Listen to this Article

0:00

It has come to the notice of the Board that disputes have arisen as to whether the expe diture incurred on development and construction of infrastructural facilities like road /highways on Build-Operate-Transfer ('BOT') basis with right to collect toll is entitled for • epreciation under section 32(1)(ii) of the Act or the same can be amortized by treating it as n allowable business expenditure under the relevant provisions of the Income-tax Act, 196 ('Act')

Category : Income Tax | Comments : 0 | Hits : 482

Also Read - Extension of timelines for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24

Circular No. 16/2023 :?Extension of timelines for filing of Form 10B/10BB and Form ITR-7 for the Assessment Year 2023-24

Also Read - Govt notifies Cryptocurrency – Virtual digital assets under PMLA, 2002

MINISTRY OF FINANCE (Department of Revenue) NOTIFICATION New Delhi, the 7th March, 2023 S.O. 1072(E).—In exercise of the powers conferred by sub-clause (vi) of ...

Also Read - Guidelines for removal of difficulties under sub-section (2) of section 194R of the Incometax Act

Finance Act 2022 insetted a new section 194R in the Income-tax Act, 1961 (hereinafter referred to as "the Act") with effect from I" July 2022. The new section mandates a person,...

Also Read - Cost Inflation Index for the Financial Year 2022-23

S.O. 2735(E).In exercise of the powers conferred by clause (v) of the Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby makes the following further a...

Also Read - testing testing

testing