Depreciation
This query is : Resolved
04 December 2010
Respected Members
Can anybody pls tell me whether dep. rates prescribed by income tax are mandatory or only recommended?
Can anybody pls tell me whether dep. rates prescribed by income tax are mandatory or only recommended?
04 December 2010
Yes. it is mandatory. because in IT RETURN, depreciation has been calculated automatically as per the prescribed rate of it act.
04 December 2010
Agree With Ca Sanat, it is mandatory
04 December 2010
yes mandatory, If u not claim the depreciation in a particular year then department would considered that assesse has claim the depreciation in that particular year.
06 December 2010
thanks to all but i jst wanna know whether i calculate dep at a rate which is less than the rate prescribed by I.T. act.
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