Charging of depreciation
This query is : Resolved
10 January 2018
whether charging of depreciation is optional eventhough asset used in business.
10 January 2018
No depreciation will be available whether or not the assessee claim.
10 January 2018
ok, and what if in earlier years , assessee was calculating his business income on presumptive basis under section 44AD so was not charging depreciation, and now he is maintaining books of accounts then that asset will be taken in books at historical cost or wdv need to be calculated for past those years when 44 AD adopted
11 January 2018
Need to calculate WDV.
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