banner_ad

Depreciation

This query is : Resolved 
Profile Image

Profile Image

(Querist)
27 April 2014 If d Business is of purchase & sell of shares & Mutual funds.. Fixed assets are in the form oc ACs.. can Depre.b claimed under Income tax act,1961 ? Bcoz dere is no direct use of Assets in generating revenue. Moreover the resultant revenue is also Exempt u/s 10(34) & 10(2A) ...
Profile Image

Rajagopalakrishnan R

Profile Image

Rajagopalakrishnan R (Expert)
27 April 2014 Section 14A prohibits the claim of any expenses which are incurred for earning any income which is exempt from Tax. Depreciation included!!.
IN any case why would you want to claim depreciation when no income is taxable??
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
04 May 2026
Content Writer Intern

Interactive Media Pvt Ltd.

New Delhi

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
06 May 2026
Account Assistant / Article Clerk

V.K. Ranjan & Co(Chartered Accountants)

New Delhi

B.Com

View Details
Company
22 May 2026
Audit assistant

Displayandbeyond

Mumbai

CA

View Details
Company
22 May 2026
Sr. Financial Analyst - Consolidation

Search Synergy

Mumbai

CA

View Details
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
08 May 2026
CHARTERED ACCOUNTANT

SHAH LADHA AND ASSOCIATE

Ahmedabad

CA

View Details