claiming depreciation

265 views 4 replies
User Avatar

11 Points Joined January 2019
Hi,
Whether depreciation can be claimed on assets purchased but business operations are not started yet?
Kindly reply
0 Reply Share Follow
On 05 July 2019 at 15:51 Report
Replies (4)
User Avatar

student
285 Points Joined November 2018

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

2 Reply
On 05 July 2019 at 16:48
User Avatar

11 Points Joined January 2019
what if asset is ready to use but business operations r not started
Reply
On 05 July 2019 at 16:50
User Avatar

Accountant
4533 Points Joined February 2017
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)
Reply
On 06 July 2019 at 02:12
User Avatar

11 Points Joined January 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
Reply
On 08 July 2019 at 11:55


CCI Pro

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Threads

More recent discussions | Post

Related Threads
Loading