Depreciation
This query is : Resolved
Quick Summary
MAKARAND DAMLE
(Querist)
07 January 2021
Sole proprietary concern is having losses for f y 19-20
Can we not claim depreciation on assets so that loss will be lesser to that extent
Is it allowed under income tax act ?
Can we not claim depreciation on assets so that loss will be lesser to that extent
Is it allowed under income tax act ?
KAVIRAJA ADDANGADI
(Expert)
07 January 2021
Depreciation is wear and tear , efflux of time you need provision to replace new asset after life time of Asset you cannot avoid to claim depreciation as and when you require
Dhirajlal Rambhia
(Expert)
02 October 2021
Agreed. WDV of assets reduces, whether you claim depreciation or not.
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