Depreciation

13 December 2017

Firm is not dissolve but last financial year there were no work. Can firm claim dep. For that financial year?

Reply
Follow
Share

6 Replies

Rakesh Bandal (Self Employed and Agriculture) (1349 Points)
Replied 13 December 2017

Yes depreciation can be claimed for passive work also once machinery is put to use

Yash Chawda (300 Points)
Replied 13 December 2017

depriciation claim but since there is no income than such case depriciation become unabsorb depriciation and carried forward to future years

Yash Chawda (300 Points)
Replied 13 December 2017

you can not show loss due to depriciation

Preety Acharya (85 Points)
Replied 13 December 2017

Can bank interest and charges claim by firm

eusuf (CA ) (39 Points)
Replied 13 December 2017

yes u can claim depreciation and also interest since the funds are used for business not necessarily in the current year but also in previous years

eusuf (CA ) (39 Points)
Replied 13 December 2017

but check the provisions of sec 43b if interest is overdue it will not be allowed as deduction

1 Like

Start a New Discussion

view all classess

Forum Home