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Query related to depreciation

This query is : Resolved 
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(Querist)
24 August 2012 last year the company all asset are under wip and in current year the company's production has been started from july'11 and still buidling is under construction on31st march 2012 wip buidling converted into buidling. My query is now is it compulsory to provide depreciation on building or not in year 11-12
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Vivek Mehta (CA, DISA,CS, MBA)

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Vivek Mehta (CA, DISA,CS, MBA) (Expert)
24 August 2012 Yes it is compulsory to claim depreciation under the Income Tax Act now.
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CA Ayush Agarwal

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CA Ayush Agarwal (Expert)
24 August 2012 Confirm Put to Use of Building.
From That Year You Must Claim Depreciation Otherwise Next Year Depreciation is Allowed on Reduced Balance
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