Depreciation Allowance under Sec 32 of the Income Tax Act, 1961

Puneet Taneja , Last updated: 24 September 2020  
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Depreciation is an allowance on capital assets acquired and put to use and not an expenditure unlike repairs to machinery, plant, or furniture. It need not be incurred by the assessee during the previous year. The depreciation allowance is calculated on the assets of the assessee as per the methods

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Published by

Puneet Taneja
(Finance Professional)
Category Income Tax   Report

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