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
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Sales return eway bill
- Free lancer income
- Loan by Partnership Firm
- TDS related Query_Liquidated Damages
- Long Term Service award taxability in hands of company
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
