Depreciation
This query is : Open
21 September 2011
My Company is not working since last 4 years,
As the machinery was utilised last years we used to charge depreciation,
but when we business is not running the depreciation is not being charged.
IS IT MANDATORY TO CHARGE DEPRECIATION EVEN IF THE MACHINERY STOPPED BEING UTILISED.
As the machinery was utilised last years we used to charge depreciation,
but when we business is not running the depreciation is not being charged.
IS IT MANDATORY TO CHARGE DEPRECIATION EVEN IF THE MACHINERY STOPPED BEING UTILISED.
21 September 2011
No it is not mandatory to charge depreciation but however to declare dividend it is must to provide depreciation if any outstanding.
For income tax purpose the depreciation is must to charge for and it will be carry forward as unabsorbed depreciation for long term.
For income tax purpose the depreciation is must to charge for and it will be carry forward as unabsorbed depreciation for long term.
22 September 2011
but we are not utilising the assets,
any reference if possible plz
any reference if possible plz
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