Depreciation on gross value of capital goods
This query is : Resolved
10 June 2017
Can we avail Input Tax credit for purchase of Capital goods if we also claim depreciation as per I.T Act & Rules of the said assets on the gross value ( for depreciation purpose) ?
10 June 2017
It is specifically prohibited. Either claim ITC or depreciation, but not both
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
- Money lost in stock market related scam
- Required to submit form 10IEA_fy 24-25
- Error whilst validation
- Reminder of Dues under the WBGST Act 17
- Rebate u/sec. 87A manually
- ERRROR IN ITR2 FILING
- ITR2 Not Validating Short Term Capital Loss as value less than zero
- ITR3
- GSTR ITC relationship
- Hash value error indicated whilst validating itr 2 online
- ITRU invalid and political donation
- Regarding Hackathon Prize W-8BEN Form Tax Treaty Benefit & 115BB/115BBJ
- Excess Interest paid on TDS challan- Can it adjusted against tax payable
- Exemption of gratuity in case of govt employees
- RECEIPT NUMBER OF EARLIER STATEMENT FILED FOR FORM 26Q- PREVIOUS TDS RETURN FILED FOR F.Y.2017-18_Q4
- Leave Encashment after resignation
- Regarding ITC show in Electronic Credit Reversal and Re-claimed Statement.
- TDS on disallowance and reporting
- Requirement of MGT-14 for resolution passed at EGM for appointment of auditor
- ICWAI-Final
Trending Online Classes
-
Input Tax Credit, GST refunds and Recovery of refunds- Roadblocks and way outs
CA Nipun Arora03 September 2025 -
GST LIVE Certification Course - 43rd Weekdays Batch(With Govt Certificate)
Industry Expert15 September 2025
CAclubindia
