Is charging depreciation on fixed assets is mandatory?
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Charging depreciation
Replies (7)
No.., but provision for depreciation is Helpful for purchasing new asset when life of asset is expired
No.., but provision for depreciation is Helpful for purchasing new asset when life of asset is expired
No.., but provision for depreciation is Helpful for purchasing new asset when life of asset is expired
for income tax it is compulsory pursuant to section 32 of the said. however in company act it is nowhere mentioned whether it is compulsory or recommendatory
agree with above
Yes it is mandatory to claim depreciation as per income tax act
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