An LLP has not used a certain machinery, and as such does not want to claim depreciation on it.
is it ok if they do not claim depreciation on that machinery in the IT return ??
The depreciation will be shown in books of account, as per IT rules
Menu
Depreciation
Replies (2)
Quick Summary
As per my opinion
Depreciation is mandatory, you can't avoid
Depreciation is mandatory, you can't avoid
As per sec 32 of the Income Tac Act, depreciation can be claimed on any asset which is actually used ince the LLP has not used the machinery, the
Recent Topics :
- LTCG on property sale
- Capital gains incidence due to bonus shares
- Amendment of Object Clause of Memorandum
- How Can I Request a Refund for an Accidental Airte
- TDS on salary paid in cash
- YEAR END GST ENTRY FOR RCM NOT PAID RS 5000 I.E OU
- Last Date To Fill ITR For Non-Audit Case
- Guidance Required on Filing Fresh Registration und
- IT Return Refund Status AY 2026-27
- Clarification Regarding Income Tax Demand Notice
Related Topics :
CAclubindia
