DEPRECIATION
This query is : Resolved
05 February 2010
A factory remained closed due to lock out during the previous year.Whether depreciation can be claimed for the relevant previous year?
05 February 2010
Yes
05 February 2010
in income tax when dep is provided in one year then for next year dep will be applicable even if assessee don't take credit of this dep it is assumed dep is taken and for next year opening balance of asset will be taken by subtracting last year dep which is not taken by assessee.
So in your case dep will be claimed
So in your case dep will be claimed
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