additional depreciation
This query is : Resolved
KIRTI J. SHAH
(Querist)
11 July 2007
Whether additional depreciation is compulsory like normal depreciation ?
SHIV KUMAR GUPTA
(Expert)
11 July 2007
VERY PURPOSE OF BOTH IS DIFFERENT ONE IS FOR COMPANIES ACT FOR ANNUAL BALANCE SHEET ANOTHER ONE IS FOR INCOME TAX FOR ASSESSMENT OF INCOME FROM BUSINESS.
S.K.GUPTA
S.K.GUPTA
11 July 2007
Extra depreciation is available for claim in Income Tax assessment and it is upto you to avail it or not . It is not compulsory.
Abhisek Konar
(Expert)
13 July 2007
at the option of the assessee
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