Sir,
Is it mandatory to claim depreciation under the income tax act 1961? Can I pay income tax without claiming benefit of depreciation under income tax act, 1961?
Regards,
Vikas
Sir,
Is it mandatory to claim depreciation under the income tax act 1961? Can I pay income tax without claiming benefit of depreciation under income tax act, 1961?
Regards,
Vikas
Applying Section 32 of Income Tax Act, 1961 is compulsory even if you don't apply this section and file return and your case is selected for assessment then AO will apply sec 32 as it is mandatory to apply sec 28 to 43 while computing income under the head P/G/B/P.
Agree with all above.
Yes, it is mandatory...
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