Menu
ICDS 9
Whether amount disallowed in icds 9 can be shown as addition and depreciation on it can be claimed? or icds 9 was a permanent disallowance?
Replies (1)
Summary: Disallowed borrowing costs under ICDS IX cannot be claimed as depreciation because they are typically excluded from the "actual cost" of the asset as defined under Section 43(1) of the Income Tax Act. Adjustments for ICDS are for tax computation purposes only and do not automatically entitle you to include disallowed costs in the block of assets for depreciation.
Recent Topics :
- Clarifications for intra day transactions
- CA FINAL FR FINANCIAL INSTRUMENTS (Ind AS 109) Dou
- 70:30 GST rule for solar EPC: partial scope (struc
- TDS on Redevelopers hardship allowance received no
- Who will take FSSAI AND TRADE LICENSE: owner or te
- E Way Bill in respect of Without Bringing Material
- FAST DS 2026 query
- Consultation
- E-way notices for FY 22-23
- Gst file not created
Related Topics :
CAclubindia
