Depreciation query

This query is : Resolved

Mohan (Querist)
Follow

30 July 2013 Whether a woman working on retaininership with a company, if does not raise any bill/debit note after first 4 months of the F.Y. due to preganancy (i.e. she does not do any business), allowed depreciation on fixed assets for the whole year? She paid service tax only for 4 months. What is the interpretation of Act, any case laws favouring/disfavouring the assessee?

Thanks

CA UMESH DULAL

CA UMESH DULAL (Expert)
Follow

30 July 2013 Depreciation can be claimed once the assets is put to use till the disposal/cession of assets whether it is earning income for the business/profession provided it is business asset

so you can claim depreciation for idle period of 4 months

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now