ITDepreciation not cliamed in Preceding Years

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Prakash (Querist)
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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)
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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)
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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)
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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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