Kritika (CA) (26 Points)
08 October 2021Can income tax depreciation be claimed on above mentioned things if kept exclusively in office or used exclusively for office purpose? do office purpose need to be proved? Is there any way to claim depreciation or any case law to refrain from same? What is the common practice in industry?
JGM
(Knowledge Sharer)
(443 Points)
Replied 14 October 2021
It depends upon the business and whether you can substantiate that these were used for the purpose of business. The claim for depreciation is allowed if it can be shown that the asset is put to use for the Company's business
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