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claiming depreciation

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11 Points Posted on 05 July 2019
Hi,
Whether depreciation can be claimed on assets purchased but business operations are not started yet?
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On 05 July 2019 at 15:51 Report
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student
285 Points Posted on 05 July 2019

Unless the asset is put to use, no depreciation can be claimed over it.

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On 05 July 2019 at 16:48
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11 Points Posted on 05 July 2019
what if asset is ready to use but business operations r not started
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On 05 July 2019 at 16:50
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Accountant
4533 Points Posted on 06 July 2019
In this case also you cannot claim depreciation on the asset.
It is clearly mentioned in the act that depreciation will be charged only when the asset is "put to use" not when the asset is ready to put to use. ( As per the case law Dinesh Kumar gulab Chandra Agrawal, Bombay High Court)
19 Reply
On 06 July 2019 at 02:12
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11 Points Posted on 08 July 2019
But u/s 32 put to use is being defined as active use ND passive use both...so do we have to consider that ND claim depreciation r nt...m confused between that
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On 08 July 2019 at 11:55


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