Hi,
One of my client is a company having its branches within karnataka. It has transferred frequently assets & also accquired assets on transfer from its branches. Kindly elaborate on depreciation ?
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Depreciation
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For calculating the tax depreciation, it is to be done at the company level as per section 32 of the IT Act, 1961. Depreciation is calculated from the date it has been put to use by the company and is not dependent upon the branch location or movement within branches.
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