Depreciation
This query is : Resolved
TARIQUE RIZVI
(Querist)
30 August 2017
It is a pvt ltd Company and the Ay is 2017-18 ( Fy Year Ending 31st March 2017). Whether depreciation on purchase of fixed assets from URD { Unregistered Dealer } is allowable ?
CA Nipun Goyal
(Expert)
30 August 2017
If you have proper documents evidencing ownership, then depreciation will be allowed.
TARIQUE RIZVI
(Querist)
30 August 2017
The buyer has purchased in cash by way of splitting (10,000 three times ). There is no documentary evidence also. I think we will have to pay tax on purchase for claiming depreciation.
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