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 :
- Gst input credit
- CAN PARTNERSHIP FIRM SIGN SERVICE AGGREMENT WITH A
- E-waybill
- Sell of CAFC books
- ITC ON RENT
- GSTR-9 Table 8A Portal and Excel Issues
- IGST on Commercial Rental Income (Different State)
- Revocation of suo moto cancelled GST registration
- Is there any faculty taking chapterwise test in CA
- Late Fees and Interest
Related Topics :
CAclubindia
