Depreciation allowance under section 32 of the Income Tax Act, 1961

CA CMA CS Ram Pavan Kumar Melam , Last updated: 17 July 2023  
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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 has to be calculated on the assets of the assesee as per the met

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CA CMA CS Ram Pavan Kumar Melam
(CA)
Category Income Tax   Report

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