ITDepreciation not cliamed in Preceding Years

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This query is : Resolved

Prakash (Querist)

13 August 2009 Dear there,

my client started his business 2 yrs back. He filed IT returns. But he did not claim the Depreciation allowed as per sec 32.

Now I wish to claim depreciation on his assets. How can do that, how can I get the WDV of assets ?Should i take the purchase price or have ti calculate the IT depreciation for the preceding years?

Durai.Prakash

Ranjeet

Ranjeet (Expert)

13 August 2009 Dear Mr. Durai,

ur client has not claimed any depreciation during last years means he has paid extra tax (because he has not claimed dep. as deduction) so i think that it is no need to ge worry and moreover of its there nowhere mention in income tax a/t abount not deduction of dep. u can claim dep. for current year and put the date of purchase of assets as actual.

Ranjeet
you can mail me @ ranjeet1985@gamil.com

Prakash

Prakash (Querist)

14 August 2009 dear Ranjit,
thank u for ur reply, my question was waht should be the value of Assets. Whether i can take the original value or WDV should be calculated for the precedign years?

Prakash

Prakash (Querist)

14 August 2009 dear Ranjit,
thank u for ur reply, my question was waht should be the value of Assets. Whether i can take the original value or WDV should be calculated for the precedign years?

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