|
Whether depreciation is allowed pre-commencement of business such as computers, office equipment. As per Section 32, depreciation is allowed on the basis of put to use, not on the basis of commencement of business kindly clarify.
|
|
Menu
Depreciation u/s 32 of I.T.Act
Replies (2)
Well if the company is not commenced than all the expense are capitalised. so if u provide depreciation than also you cannot claim as expense and charge to P&L account... so its better if you dont do it..
Do it from the next year.
agree with shivang sir...and how can be aseet put to use before start of busines...so it is better to charge depreciation after commencing of business
Recent Topics :
- UDIN generation
- Reply plz guys
- Tax Deduction and Collection Account Number
- Where can students practice XAT PYQs effectively?
- Gst on Guest house 5% without ITC
- How do you collect documents from clients for ITR
- GST ITC on Construction/ Tenant Specific Renovatio
- GST Treatment and Reporting of Share & Mutual
- AGM Defective Notice
- IMS Rejection of Sales and Sales return
Related Topics :
CAclubindia
