DEPRICIATION ALLOWANCE
This query is : Resolved
06 October 2010
AN ASSESSEE IS A PROPRITOR OF THREE PROPRITORY FIRMS FOR WHICH SEPERATE ACCOUNTS ARE PREPARED.AT THE END OF YEAR CONSOLIDATED ACCOUNTS ARE PREPARED FOR INCOME TAX PURPOSE AND CONSOLIDATED BLOCK OF ASSETS IS PREPARED FOR CLAIMING DEPRICIATION.DURING THE YEAR ONE FIRM HAS NOT DONE ANY BUSINESS ACTIVITY.CAN DEP ON ASSETS OF THIS UNIT BE CLAIMED BECAUSE BLOCK OF ASSETS IS PREPARED FOR ALL THE THREE FIRMS AND BEING ONE ASSESSEE NO SEPERATE BLOCKS FOR EACH FIRM ARE FILED IN I TAX RETURN. WILL IT MAKE ANY DIFF IF DEP FIGURES OF EACH FIRM ARE SEPERATLY AVAILABLE
06 October 2010
yes u can claim depreciation
06 October 2010
THANKS FOR ANSWER. PL SEE THE MODIFIED QUESTION
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
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Opting our of sec 44AD
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Transporter Declaration form
- Copyright software
- Multiple trade mark
- Regarding TDS Applicability For Director Remuneration
- Value of property in capital gain
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
