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Is it necessary to claim depreciation

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Querist : Anonymous

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Querist : Anonymous (Querist)
31 October 2016 Hello All,
Plz clarify is it necrssary to claim dep
as per IT act. If we don't claim then
Any consequences,

Thanks & Regards
Vinay Chahar
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Amol S Joglekar

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Amol S Joglekar (Expert)
01 November 2016 depreciation, if not claimed by the assessee, shall be deemed to have been claimed. The WDV shall be accordingly considered in the subsequent years
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Querist : Anonymous

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Querist : Anonymous (Querist)
01 November 2016 Dear Amol sir,
Yes dep shall be deemed to be charged. But tell me weather AO
may levied any penalty on not
Chargability of dep
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Amol S Joglekar

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Amol S Joglekar (Expert)
01 November 2016 No. Assessing Officer can NOT levy penalty for the same.
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