DEPRICIATION ALLOWANCE
This query is : Resolved
R K BINDLISH
(Querist)
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
CA Navin Jain
(Expert)
06 October 2010
yes u can claim depreciation
R K BINDLISH
(Querist)
06 October 2010
THANKS FOR ANSWER. PL SEE THE MODIFIED QUESTION
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