Menu
DEPRECIATION ON REVALUED ASSETS AS PER INCOME TAX ACT
If company is recording assets on revaluation model and depreciation is calculated on that assets as per companies act provisions, Can we claim the depreciation on revalued assets as per income tax act?
Replies (3)
Quick Summary
No.......
Depreciation is calculated on cost or fair market value as per norms of accounting standard.
From where the wdv has been derived.
WDV STANDS FOR WROTTEN DOWN VALUE.
WDV STANDS FOR WROTTEN DOWN VALUE.
Recent Topics :
- Invoice made but goods not sent
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
- Capital Gains Tax
- LTCG 112A and business loss
- FAST-DS 2026 applicability: foreign employee share
Related Topics :
CAclubindia
