Depreciation

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Querist : Anonymous

Querist : Anonymous (Querist)

27 May 2015 If i do not use assets at any point of time in a year whether i should claim depreciation for that? Is it compulsory?

IS it compulsory For The Companies Act?

CA. SHIVA SHANKARA R. SHETTY

CA. SHIVA SHANKARA R. SHETTY (Expert)
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27 May 2015 Under the Income tax Act, the depreciation will starts from the date of 'put to use'. In case, the assets not used in any point of time in a year,no depreciation is allowed.

Under the companies Act, no such condition.

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Querist : Anonymous

Querist : Anonymous (Querist)

01 June 2015 Thank You Sir, for providing your precious Time

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