Is it necessary to claim depreciation

This query is : Resolved

Querist : Anonymous

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

Amol S Joglekar

Amol S Joglekar (Expert)
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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

Querist : Anonymous

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

Amol S Joglekar

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

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