29 September 2017
If an asset is completely depreciated as per Companies Act, but it is still having written down value as per IT act in the financial year apropos. Can we still claim depreciation as per IT Act for the calculation of Taxable Income?
29 September 2017
That depends upon many other Following Criteria as you might be knowing that income tax follow the block of asset concept:
1. does the asset exist?
2. do you have any other asset in that block?
3. Does the other asset in the same block still exists?
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