Depreciation
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 November 2013
A new firm in its first year did not use the assets . Now the company wants not to charge depreciation for the first year. Is that possible? If yes, is any resolution required to be passed?
26 November 2013
as per income tax depreciation allows only when assets is put to use , if assets not used then, no depreciation allowed.
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