Depreciation

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Querist : Anonymous

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Querist : Anonymous (Querist)
27 August 2013 whether loss making company require to charge depreciation on fixed assets?

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27 August 2013 yes depreciation can be charged...

27 August 2013 Depreciation is mandatory, therefore it has to be charged for income tax purpose irrespective of the trading result. Please see explanation 5 to section 32(1) of the Income tax Act,1961.

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Querist : Anonymous

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28 August 2013 Thanks for reply


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