XYZ Pvt. Ltd. has purchased a flat in its name and is using it as its office. In the first year depreciation has been claimed on it. But from 2nd yr on wards it does not wish to claim depreciation on it. Can this be done?
Menu
Depreciation on flat
Replies (2)
can u plz clarify the reason why the company does not want to charge depreciation on the flat?
Dear Sir,
though the company might not claim it in its ITR, yet it is compulsory to claim it u/s 32.... thus, if the assessee don't claim it for a year (he can do so), but when the assessment is to be done for such A.Y., then the same will be allowed to the assessee... and all transactions are required to be done as the depreciation has been claimed by the assessee and allowed by the Dept. (it is deemed in such case)
Recent Topic
- Client consent under DPDPA: Is client sharing PAN,
- TDS MISMATCH
- Rebate on other income even if LTCG is above my 12
- Need CA to certify shareholding pattern.
- Ltcg savings
- Please share the roc and income tax compliance fo
- Proprietor have 2 business. One is registered unde
- ITR-4 – Gross Receipts or Turnover for Secti
- Unrelated entries in AIS and Form 26as
- Payment to foreign national
Related Topics
CAclubindia
