Itr - 2
This query is : Resolved
22 September 2013
SIR I AM AN EMPLOYEE, IN MY 1ST YEAR BALANCE SHEET I HAVE SHOWN, MOTOR BIKE, TV, FURNITURE & FIXTURE, COMPUTER AS FIXED ASSETS..
NOW I WANT TO KNOW, IS IT NECESSARY TO CLAIM
DEPRECIATION ON THE ABOVE ASSETS, IF YES..WILL IT BE DEDUCTED/DEBITED FROM MY INCOME.
IS THERE ANY PROBLEM IF I DO NOT CLAIM DEPRECIATION ....REGARDS
NOW I WANT TO KNOW, IS IT NECESSARY TO CLAIM
DEPRECIATION ON THE ABOVE ASSETS, IF YES..WILL IT BE DEDUCTED/DEBITED FROM MY INCOME.
IS THERE ANY PROBLEM IF I DO NOT CLAIM DEPRECIATION ....REGARDS
22 September 2013
Depreciation is eligible for assets used in the business u/s.32
incase you are salaried employee and having only salaried income, no depreciation is allowed
incase you are salaried employee and having only salaried income, no depreciation is allowed
22 September 2013
Not only that cannot claim depreciation, there is no need for you to prepare balancesheet and P&L account for tax purposes.
File your tax return on the basis of Form 16, any other income received - interest etc.
File your tax return on the basis of Form 16, any other income received - interest etc.
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