Depreciation
This query is : Resolved
24 July 2010
If company is making loss from past two years whether it is suitable that we should not provide for depreciation in the current year. However depreciation is not provided in the previous years also. Is it correct. If it is not correct please suggest the correct treatment?
24 July 2010
Depreciation is not connected to losses. It is mandatory to claim depreciation even if there are losses.
25 July 2010
Agree with Rahul Ji.
Many thinks why claim depreciation as per Income Tax if there is loss since it can be claimed later when there is profit. But it is wrong there should be uniformity in policies adopted.
So you are advised to claim depreciation as usual and carry forward for adjustment in case of losses.
Regards
Many thinks why claim depreciation as per Income Tax if there is loss since it can be claimed later when there is profit. But it is wrong there should be uniformity in policies adopted.
So you are advised to claim depreciation as usual and carry forward for adjustment in case of losses.
Regards
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS on Purchase of Immovable Property by NRI from NRI
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Capital gain from sale of house property
- Regarding TDS Applicability For Director Remuneration
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Multiple trade mark
- Copyright software
- LC charges in relation to Asset purchased should be Capitalised ?
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
