Depreciation

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Querist : Anonymous

Querist : Anonymous (Querist)

13 March 2014 Dear Sir,
I want to not charged depreciation on fixed assets it is possible as per companies act,1956 while preparing the Balance sheet.Please suggest me

Thanks
Vinod

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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13 March 2014 If the depreciation is not charged in the books then the balancesheet of the company is not a true and fair view.

So according to my knowledge and understanding my view is charging of depreciation in books according to the rate prescribed under companies act 1956(2013) is compulsory in the case of company assessee.

OM SAI SRI SAI JAI JAI SAI

Querist : Anonymous

Querist : Anonymous (Querist)

13 March 2014 Thanks Sir please provide section no for references in which section written mandatory charged depreciation on fixed assets.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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04 October 2021 Yes, whether used or not, value of assets get reduced & hence charging depreciation is mandatory.

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