dear sir,
plz tell some of the important point in case of capital goods , like fixed asset he should I take the credit fully or partially
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Capital goods purchase
Replies (5)
sir fullllly
yes you can avail at first time without any proportionate
but not allowed to deduct the Depreciaton for same as per ITC
Rightly answered. Input tax credit and debit and depreciation deduction is not allowed to be taken simultaneously. The same will amount to double deduction.
double deduction mince what i am not properly understand. it mince take only one deduction (itc or depression) both are not allowed Right sir.. other wise clerify me..
Yes. Your understanding is right.
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