Depreciation
This query is : Open
31 March 2009
Hi ! Friends
Can anyone tell me whether the depreciation is to be mandatorily charged on a plant which is being used for one year and thereafter due to the shut down it has not been in use for the previous 4-5 Assessment years.
What if the assessee dont want to claim depreciation.
Thanks in anticipation
Can anyone tell me whether the depreciation is to be mandatorily charged on a plant which is being used for one year and thereafter due to the shut down it has not been in use for the previous 4-5 Assessment years.
What if the assessee dont want to claim depreciation.
Thanks in anticipation
31 March 2009
For the purpose of Income Tax, you have to charge Depreciation.
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31 March 2009
its mandatory under companies law to charge depre
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02 April 2009
Thanks for your support but our contention is that if the plant in not in use as it is shut down and hence no wear and tear so, depreciation for what?
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