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Depreciation on Ideal Assets

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HARIPARA SACHIN

PRACTICE IN INDUSTRY

21 Points Posted on 23 September 2023

if company don't want to claim Depreciation on plant and machinery due to temporary close down , So as per income tax can avoid depreciation.

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Quick Summary

This discussion explores whether companies can avoid claiming depreciation on plant and machinery if assets are temporarily not in use. While the Companies Act may allow for avoiding depreciation in such scenarios, income tax regulations generally require depreciation to be claimed even if the asset is not actively used.